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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 <br /> from the provisions of qualify for the exemption <br /> Code afforded by Paragraph (1) of subsection 103 (b) of the <br /> the Vice ChairmanS ofpthegAuthorityDisthereby,authorizedhtirmak or <br /> and file, or cause to be filed, such election on behalf of thee <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 the issuance of the Bond and related matters. Su for approval <br /> are further authorized and directed to sign s' Such officers <br /> filed such financing statements gn and to cause to be <br /> s�atemen,,s and to cause to be recorded such <br /> instruments as counsel to the Authority shall deem necessary or <br /> advisable in connection with the issuance of the Bond. <br /> officers shall be entitled to rely h <br /> on t sulk <br /> Authority in deciding to take or not totakevany actionninl to the <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 />