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ORANGE COUNTY U o' <br /> BOARD OF COMMISSIONERS ACTION AG NDA <br /> ACTION AGENDA ITEM ABSTRACT ITEM NO. <br /> MEETING DATE June 24, 1986 <br /> • <br /> SUBJECT: Orange County Industrial Facilities and Pollution Control <br /> Financing Authority -- Isotechnologies, Inc. Project • <br /> DEPARTMENT: Economic Development I PUBLIC HEARING: YES X NO - <br /> ATTACHMENT(S) : Yes INFORMATION CONTACT: Sylvia Price <br /> (FINANCIAL DOCUMENTS ARE AVAILABLE PHONE NUMBERS: HILLSBOROUGH - 732-8181 <br /> IN THE CLERK TO THE BOARD OF HILLSBOROUGH - 732-9361 <br /> COMMISSIONERS OFFICE) CHAPEL HILL - 967-9251 <br /> MEBANE - 227-2031 <br /> DURHAM - 688-7331 <br /> RMWaX <br /> The Orange. County Industrial Facilities and Pollution . Con- <br /> trol Financing Authority (the "Authority") has met and has taken <br /> the following _action in connection with the proposed issuance and <br /> sale of the Authority ' s Industrial Revenue Bonds for the <br /> Isotechnologies, Inc. Project: • <br /> 1. approved the form of a Loan Agreement, to be dated . <br /> !OX as of July 1, 1986, by and between ' the Authority and <br /> Isotechnologies, Inc. (the "Company") ; <br /> 2. approved and authorized the endorsement without <br /> recourse and pledge of a promissory note of the Company, to <br /> be dated as of July 1, 1986; <br /> 3. approved the form of an Assignment, to be dated as <br /> of July 1, 1986, from the Authority to NCNB National Bank of <br /> North Carolina (the "Purchaser") ; <br /> 4. authorized the borrowing under and the issuance <br /> and performance of the Authority' s Industrial Revenue Bond <br /> (Isotechnologies, Inc. Project) , in a principal amount not <br /> to exceed $1,500,000, and direct the execution and delivery. <br /> cX of said Bond; <br /> 5. approved the form of the Bond Purchase Agreement, <br /> to be dated as of July 1, 1986, by and among the Authority, <br /> the Purchaser and the Company, providing for the issuance <br /> and sale of the Bond; <br /> 6. approved the form of the Security Agreement, to be <br /> dated as of July 1, 1986, by and between the Company and the <br /> Authority; <br /> RECOMMENDATION(Si: Approve the Resolution <br />