Orange County NC Website
Browse       Search
satisfactory to themselves and counsel for the Authority of <br /> payment therefor. <br /> Section 9. The Authority has determined to elect to have the <br /> Bond issued pursuant to this resolution qualify for the exemption <br /> from the provisions of paragraph <br /> rah 6 (1) of subsection 103 (b) of the <br /> Code afforded by subparagraph p ( ) ( ) thereof, and the Chairman or <br /> the Vice Chairman of the Authority is hereby authorized to make <br /> and file, or cause to be filed, such election on behalf of the <br /> Authority by submitting a letter to such effect in a form approved <br /> by bond counsel to the Authority. <br /> Section 10. The officers of the Authority are hereby <br /> authorized and directed to execute and deliver such certificates <br /> and statements .as may be required by the Bond Purchase Agreement, <br /> the Loan Agreement, the Security Agreement, the Deed of Trust, the <br /> Assignment, the Company Guaranty or the Personal Guaranty or as <br /> may otherwise be required in connection with the issuance of the <br /> Bond, including the filing with the Internal Revenue Service of <br /> Form 8038 of the Internal Revenue Service and the filing with the <br /> Secretary of the Local Government Commission of the State of North <br /> Carolina, pursuant to G. S. 159C-8, of an application for approval <br /> of the issuance of the Bond and related matters. Such officers <br /> are further authorized and directed to sign and to cause to be <br /> filed such financing statements and to cause <br /> to <br /> instruments as counsel to the Authority shall deem necessarysorh <br /> advisable in connection with the issuance of the Bond. Such <br /> officers shall be entitled to rely on the advice of counsel to the <br /> Authority in deciding to take or not to take any action in <br /> connection with the issuance of the Bond. <br /> Section 11. This resolution shall take effect upon its <br /> passage. <br /> Commissioner Moses Care <br /> foregoing resolution entitled; moved passage of the <br /> RESOLUTION APPROVING AND AUTHORIZING THE ISSUANCE OF A <br /> NOT TO EXCEED $1, 500, 000 INDUSTRIAL REVENUE BOND <br /> (ISOTECHNOLOGIES, INC. PROJECT) OF THE AUTHORITY; <br /> APPROVING THE FORM AND AUTHORIZING THE SALE OF THE BOND <br /> PURSUANT TO THE BOND PURCHASE AGREEMENT; APPROVING AND <br /> AUTHORIZING THE EXECUTION AND DELIVERY OF THE LOAN <br /> AGREEMENT, THE BOND PURCHASE AGREEMENT, THE SECURITY <br /> AGREEMENT, THE DEED OF TRUST AND THE ASSIGNMENT; <br /> APPROVING THE FORM AND AUTHORIZING THE ENDORSEMENT AND <br /> PLEDGE OF THE NOTE; APPROVING THE FORM OF THE COMPANY <br /> GUARANTY AND THE PERSONAL GUARANTY; AUTHORIZING <br /> EXECUTION AND DELIVERY OF CLOSING CERTIFICATES; AND <br /> 5. <br />