Orange County NC Website
125 <br />VIII. PUBLIC HEARINGS <br />A. INDUSTRIAL REVENUE BOND APPROVAL FOR MEBANE PACKAGING <br />This item was presented by Chairman Carey. The purpose of <br />this item was to review information and bring to public hearing the <br />proposed issuance by the Orange County Industrial Facilities and <br />Pollution Control Financing Authority of $5.5 million in industrial <br />revenue bonds to pay for all or a portion of a facilities and equipment <br />expansion of Mebane Packaging corporation located on Oakwood Street <br />Extension in Orange County within the extraterritorial jurisdiction of <br />the Town of Mebane. Approximately 60,000 square feet will be added to <br />the existing building as well as a new $3.6 million printing press. The <br />expansion will employ 46 new employees and will be owned and operated <br />by Mebane Packaging Corporation. The Orange County Industrial <br />Facilities and Pollution Control Financing Authority entered into a <br />Memorandum of Agreement with Mebane Packaging Corporation on July 10, <br />1990. <br />Chairman Carey stated that pursuant to Chapter 159C of the <br />General Statutes of North Carolina and the regulations thereunder he had <br />been advised that The Orange County Industrial Facilities and Pollution <br />Control Financing Authority (the "Authority ") intended to file an <br />application with the Secretary of the Department of the Economic and <br />Community Development for approval of an industrial and manufacturing <br />project in Orange County, North Carolina, consisting of the construction <br />of an approximately 60,000 square foot manufacturing building addition <br />to be located on property owned by Mebane Packaging Corporation, a North <br />Carolina corporation (the "Company) , on Oakwood Street Extension, Mebane <br />Industrial Park, Mebane, Orange County, North Carolina and the <br />installation of a printing press and other equipment in addition to be <br />used to manufacture packaging for products for retail sale (the <br />"Project ") by the Company and to be financed for the Company by the <br />issuance of approximately $5,500,000 aggregate principal amount of bonds <br />of the Authority. Such application for approval cannot, under <br />regulations of the Department of Economic and Community Development, <br />be officially received until, among other things, the Board has, by <br />resolution after having held a public hearing, approved the issue of <br />bonds for the proposed Project and approved the Project in principle. <br />Chairman Carey presented to the Board copies of the Authority's <br />resolution approving the Project and the inducement agreement between <br />the Authority and the Company. The Chairman then stated that a notice <br />had been published by the Clerk to the Board on July 20, 1990 stating <br />that the Board would hold a public hearing on August 6, 1990 on the <br />proposed revenue bond issue and the Project (the "Notice "). <br />A motion was made by Commissioner Hartwell, seconded by <br />Commissioner Marshall, to ratify the publication of the notice and <br />designate this meeting as a public hearing on the Revenue Bond issue and <br />the Project. <br />VOTE: UNANIMOUS <br />