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the cost of acquisition of a tract of land of approximately 20 <br /> acres located east of Hillsborough, North Carolina, on State Road <br /> 1879 or Elizabeth Brady Road near the intersection of State Road <br /> 1879 and U.S. 70, the construction thereon of an approximately <br /> 30,000 square foot building and the acquisition and installation <br /> therein of machinery and equipment (the "Industrial Project") , <br /> that bond counsel for the Authority had prepared and distributed <br /> a Memorandum of Agreement, that counsel to the Authority had <br /> d reviewed the Memorandum of Agreement, that the Company,F. had <br /> requested that the Authority approve and execute the Memorandum <br /> of Agreement, and that he believed that it was in order for the <br /> Authority to approve the Memorandum of Agreement and authorize <br /> its officers to execute the same. <br /> Commissioner • then introduced the <br /> following resolution, a copy of which was distributed to each <br /> Commissioner and the title of which was read: <br /> RESOLUTION AUTHORIZING EXECUTION OF A <br /> AGREEMENT BY AND BETWEEN THE ORANGE COUNTY AL <br /> FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY <br /> AND ISOTECHNOLOGIES, INC. RELATING TO THE FINANCING OF TY <br /> AN INDUSTRIAL PROJECT IN ORANGE COUNTY, NORTH CAROLI <br />;; AND AUTHORIZING THE ISSUANCE �' <br /> $1,250,000 AGGREGATE PRINCIPAL AMOUNT NOT F <br /> EXCEEDING <br />° DEVELOPMENT REVENUE BONDS OF THE AUTHORITY THER FOR. IAL <br /> i <br /> WHEREAS, The Orange County Industrial Facilities <br /> Pollution Control Financing Authority and <br /> y (the "Authority") desires <br /> to authorize the execution of the Memorandum of Agreement; and <br /> 2. <br />`r <br />