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Authority' s industrial development revenue enue bonds if the interest <br /> thereon is to be exempt' from federal income tax. <br /> Commissioner Wilihoit 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 APPROVING THE ISSUANCE OF NOT EXCEEDING <br /> $1,500,000 AGGREGATE PRINCIPAL AMOUNT OF INDUSTRIAL <br /> DEVELOPMENT REVENUE BONDS OF=-.THE ORANGE "COUNTY <br /> INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING <br /> AUTHORITY TO FINANCE AN INDUSTRIAL PROJECT FOR <br /> ISOTECHNOLOGIES, INC. AND APPROVING THE INDUSTRIAL <br /> PROJECT. <br /> WHEREAS, the Board of Commissioners for the County of Orange <br /> (the "Board") has created a political subdivision and body <br /> corporate and politic of the State of North Carolina known as <br /> "The Orange County Industrial Facilities and Pollution Control <br /> Financing Authority" (the "Authority" ) ; and <br /> - WHEREAS, the Authority is authorized under the Industrial <br /> and Pollution Control Facilities Financing Act, Chapter 159C of <br /> the General Statutes of North Carolina, as amended ( the "Act") , <br /> to issue revenue bonds for the purpose, among others, of paying <br /> all or any part of the cost of any industrial or pollution <br /> control project for industry; to acquire, construct, improve and <br /> equip any such project; and to make and execute financing <br /> a agreements, security documents and other contracts and <br /> instruments necessary or convenient nn the exercise of such <br /> p o�.aers; and <br /> A ° <br /> 4 . <br /> . , r z-- -, <br />