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Authority, the Purchaser and the Company, providing
for the issuance and sale of the Bond;
6. approved the form of a Security Agreement, to
be datea as of December 1, 1982, between the Company
and the Authority;
7. approved the form of the Project Deed of
Trust, to be dated as of December 1, 1982, from the
Company to Jerone C. Herring, as Trustee, for the
benefit of the Authority;
8. authorized the acceptance by the Chairman of
the Authority or, in his absence, the Vice Chairman,
of (i) the forms of the Collateral Deeds of Trust, to be
dated as of December 1, 1982, from the Company to the
Purchaser, its successors and assigns, and (ii) the
form of a Guaranty Agreement, to be dated as of Decem-
ber 1, 1982, from James L. Thorneburg (the "Guarantor")
to the Purchaser.
(b) The Board of Commissioners for the County of Iredell
has reviewed the action taken by the Board of Commissioners
of the Authority in connection with the issuance and sale of
the Bond and has made such other examination and investiga-
tion as it deems necessary and relevant as the basis for the
1
approval set forth herein.
Section 2. Pursuant to and in satisfaction of the
requirements of Section 159C -4(d) of the General Statutes of
3.
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