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M . <br /> WHEREAS, the Authority desires to approve the issuance of <br /> not exceeding $1,250, 000 aggregate principal amount of industrial <br /> development revenue bonds of the"-Authority to finance an <br /> Industrial Project for Isotechnologies, Inc . (the "Company" ) ; <br /> NOW, THEREFORE, <br /> BE IT RESOLVED by the Authorit <br /> y as follows: <br /> (1) The Memorandum of Agreement relating to the e financin g <br /> of an Industrial Project for the Company in Orange County, North <br /> il Carolina is hereby approved in the form of that presented at this <br /> meeting and attached hereto as Exhibit A, and the Chairman or the <br /> Vice Chairman and the Secretary or the Assistant Secretary of the <br /> Authority are hereby authorized toy execute and deliver five <br /> counterparts of such Memorandum of Agreement for and <br /> on behalf of <br /> -the Authority. <br /> (2 ) The Authority hereby agrees to issue, subject to the <br /> terms and in accordance with the provisions of Chapter 159C of <br /> the General Statutes of North Carolina, as amended, not exceeding <br /> '`r <br /> $1,250,000 aggregate principal amount of its industrial develop- <br /> _ <br /> evelo - <br /> merit revenue bonds to p <br /> Pay all or a portion of the cost of the <br /> Industrial Project, all as set forth in the Memorandum of Agree- <br /> 1..7 <br />,, ment. <br />' (3) The Authority hereby appoints <br /> the Board of Commis- <br /> '. ,! <br /> 7 : <br />'] i <br /> sioners for Orange County as its agent to apply for any <br /> allocation with respect to Executive _b-rder 113 of the Governor of <br /> the State of North Carolina, <br /> i' 3. __ <br /> Or <br />