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(a) The Board of Commissioners of The Iredell County
Industrial Facilities and Pollution Control Financing
Authority (herein referred to as the "Authority") met on
December 30, 1982 and took the following action in connection
with the proposed issuance and sale of the Authority's
Industrial Revenue Bond (Thorneburg Hosiery Company, Inc.
Project), in the principal amount of $2,300,000:
1, approved the form of a Loan Agreement, to be
dated as of December 1, 1982, by and between the
Authority and Thorneburg Hosiery Company, Inc. (the
"Company");
2, approved and authorized the endorsement
without recourse and pledge of a promissory note
of the Company, to be dated as of December 1, 1982;
3. approved the form of an Assignment, to be
dated as of December 1, 1982, from the Authority to
Branch Banking and Trust Company (the "Purchaser");
4, authorized the borrowing under and the issu-
ance and performance of the Authority's Industrial
a
Revenue Bond (Thorneburg Hosiery Company, Inc. Project),
i
in the principal amount of $2,300,000, and directed the
execution and delivery of said Bond;
S. approved the form of a Bond Purchase Agree-
ment, to be dated as of December 1, 1982, among the
2.
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