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manufacture of athletic hosiery products to be financed for
Thorneburg Hosiery Co., Inc. by not exceeding $3,000,000
aggregate principal amount of bonds of the Authority. Since
such application for approval cannot, under regulations of
the Department of Commerce, be officially received until,
among other things, the Board approves the project in principle,
the Authority has recommended and requested that the Board
pass a resolution approving the project in principle without
in any way prejudicing -the right and responsibility of the
Board under G.S. 159C -4(d) to approve or not to approve the
issuance of the bonds after the Department of Commerce has
approved the project and the Local Government Commission has
approved the bond issue, by which time additional information
relative to the project, Thorneburg Hosiery Co., Inc. and
the proposed financing will have been developed.
Thereupon, Commissioner Troutman introduced
the following resolution, a copy of which had been distributed
to each Commissioner and the title of which was read:
RESOLUTION OF APPROVAL IN PRINCIPAL OF
AN INDUSTRIAL AND MANUFACTURING PROJECT
IN IREDELL COUNTY, NORTH CAROLINA, TO
BE FINANCED FOR THORNEBURG HOSIERY CO.,
INC. BY NOT EXCEEDING $3,000,000 AGGREGATE
PRINCIPAL AMOUNT OF BONDS OF THE IREDELL
COUNTY INDUSTRIAL FACILITIES AND POLLUTION
CONTROL FINANCING AUTHORITY.
BE IT RESOLVED by the Board of Commissioners for the
County of Iredell:
On 26 FAsi 158
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