Agenda - 06-24-1986 - Laserfiche WebLink

Browse Search

THE ORANGE COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY June 24, 1986 Secretary, Local Government Commission Treasury Department 325 North Salisbury Street Raleigh, North Carolina 27611 Attention: John D. Foust Re: Isotechnologies, Inc. Industrial Revenue Bond Financin , Oran e Count , North Carolina Dear Mr. Secretary: Pursuant to G. S. 159C-8, The Orange County Industrial Facilities and Pollution Control Financing Authority hereby files this application for approval of the issuance of its Industrial Revenue Bond in a principal amount not to exceed $1,500, 000 for the financing of an industrial project in Orange County, North Carolina to be operated by Isotechnologies, Inc. , a North Carolina corporation. The Authority hereby requests that the Local Government Commission (a) approve the issuance of the Bond pursuant to G. S. 159C-8, (b) approve the private sale of the Bond on the terms and at the price set forth in the form of the Bond Purchase Agreement pursuant to G. S. 159C-9, (c) determine the interest rate to be borne by the Bond as set forth in said Bond Purchase Agreement pursuant to G. S. 1590-6, and (d) approve the system of registration for the Bond, as set forth in the Bond Purchase Agreement, and the appointment of a Bond Registrar pursuant to G. S. 159E. The Authority has transmitted a notice of this filing to the Secretary of the Department of Commerce pursuant to G. S. 159C-8, as required. Your office has been furnished with copies of the most recent drafts of the following documents in connection with the proposed issuance of the Bonds: 1. Copy of Application for Approval of Project pursuant to Section 159C-7 of the Act as filed by the Authority with the Department of Commerce. 2 . Form of Loan Agreement, dated as of July 1, 1986, by and between the Authority and Isotechnologies, Inc. (the "Company" ) with the form of the promissory note of the Company attached as Exhibit A thereto.