HomeMy WebLinkAboutC.054.93008_0778 (2)333
Project), Series 1984, in the aggregate principal amount of $3,000,000:
1. approve the form of a Loan Agreement by and between the Issuer and LOF
Platics Inc. or Libbey-Owens-Ford Company (the "Company");
2. approve the form of a Trust Indenture by and between the Issuer and NCNB
National Bank of North Carolina (the "Trustee");
3. approve the form of a Bond Purchase Agreement by and between the Issuer and
The Frazier Lanier Company Incorporated (the "Underwriter");
4. approve the form of a Letter of Representation from the Company to the
Issuer and the Underwriter;
5. approve the form of an Official Statement with respect to the Bonds; and
6. authorize the borrowing under and the issuance and performance of the
Issuer`s Industrial Development Revenue Bonds (LOF Plastics Inc. Project), Series
1984, in the aggregate principal amount of $3,000,000, and direct the execution and
delivery of said Bonds.
(b) The Board of Commissioners for the County of Iredell has reviewed the
action to be taken by the Board of Commissioners of the Issuer in connection
with the issuance and sale of the Bonds and has made such other examination and
investigation as it deems necessary and relevant as the basis for the approval
set forth herein.
(c) The Bonds shall not be deemed to constitute a debt of the State of North
Carolina or any political subdivision or agency thereof, including Iredell County, or
a pledge of the faith and credit of the State of North Carolina or any political
subdivision or agency, including Iredell County, but shall be payable solely from the
revenues and other funds provided therefor.
Section 2. Pursuant to and in satisfaction of the requirements of Section
159C -4(d) of the General Statutes of North Carolina, the Board of Commissioners for
the County of Iredell hereby approves the issuance by the Issuer of its Industrial
-- Development Revenue Bonds (LOF Plastics Inc. Project), Series 1984, in the aggregate
Principal amount not to exeed $3,000,000.
Section 3. This resolution shall take effect immediately upon its passage.
VOTING Ayes - 5; Nays - 0.
ADJOURN: MOTION from Chairman Hedrick to adjourn the meeting at 11:20 p.m.
Next meeting: February 5, 1985, 7:30 p.m., Agricultural Center Conference Rooms 1
and 2.
Clerk to the Boar
APPROVED, 2/5/85 Recorded at Register of Deeds Book 27, pp. 122-137.