AG19840416 - Laserfiche WebLink

Home Browse Search

(the "Purchaser") and Morrison Millwork, Inc. (the "Company"), providing for the sale of the Bond; (3) approved and authorized the execution, delivery and performance of the Loan Agreement, dated as of March 1, 1984, between the Authority ~nd the Company with the form of the Company's Promissory Note dated as of March 1, 1984 (the "Note") attached as Exhibit "A" thereto; (4) approved the form of the Note and authorized the endorse- ment thereof without recourse to the order of and the pledge thereof to the Purchaser; (5) approved and authorized the execution, del'ivery and performance of the Assignment, dated as of March 1, 1984, between the Authority and the Purchaser; '(6) approved and authorized the execution, delivery and performance of the Security Agreement, dated as of March 1, 1984, between the Authority and the Company; (7) approved the form of the Deed of Trust, dated as of March 1, 1984, from the Company to J. Thomas Dunn, Trustee for the Authority; (8) appro=ed the form of the Guaranty Agreement between E. L. Morrison Lumber Co., Inc., John H. MorrSson, Jr. and Hugh H. Morrison (collectively, the "Guarantors") amd the Purchaser, dated as of March 1, 1984; and (9) approved the form of the Company Guaranty Agreement, dated as of March 1, 1984 between the Company and the Purchaser. (b) The Board of Commissioners for the County of Cabarrus has reviewed the action taken by the Board of Commissioners of the Authority in connection with the issu- ance and sale of the Bond and has made such other examination and investigation as it deems necessary and relevant as the basis for the approval set forth herein. Section 2. Pursuant to and in satisfaction of the require- ments of Section 159C-4(d) of the General Statutes of North Carolina, the Board of Commissioners for the County of Cabarrus hereby approves the issuance by the Authority of the Authority's Industrial Revenue Bond (Morrison Millwork, Inc. Project) in the principal amount of $800,000. Section 3. This resolution shall take effect immediately upon its passage.