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U <br />educational institutions. <br />Both First Union and NCNB have been contacted concerning underwriting the <br />$5.5 million in bonds. Both have shown a willingness to issue a letter of <br />credit. Legal counsel for Mebane Packaging is Brooks, Pearson, et.al. in <br />Greensboro. <br />II. Questions by IRB Committee Members <br />of the 253 total current employees, approximately 75 are on salary and the <br />remainder paid hourly wages. Administrative people encompass <br />approximately 40 of those 75 and include Customer Service, Corporate <br />Personnel, and Graphics Staff. The expansion would be completed on land <br />currently owned by Mebane Packaging. Adequate buffers would be left on <br />all sides of the site. Additional water would be needed mainly for <br />domestic uses. Mebane Packaging currently pre - treats waste water from its <br />CUSTOMFLUTE process. Specialized technology dictate the need for in -house <br />training of new employees by exerienced pressmen. <br />352 - 402 of the work force is black, 602 - 652 is white. Women are <br />employed in the process primarily in administrative, finishing, and <br />packaging work. The printing, cutting, and stripping departments are <br />staffed by men because they require more weight lifting. Mebane Packaging <br />is located on Oakwood Street Extension in the Mebane Industrial Park. <br />Fifteen of the 46 new employees will be employed to work as pressmen at a <br />minimum wage of $10.00 per hour. Mebane Packaging encourages its <br />employees by promoting from within. The low unemployment rate in Orange <br />County has not inhibited Mebane Packaging from getting new employees. <br />III. County Attorney Comments <br />Geoff Gledhill reported that the first step towards approval of the <br />industrial revenue bonds was to get approval of the project in principle <br />by the Board of County Commissioners after an Inducement Agreement was <br />considered and approved by the Industrial Facilities and Pollution Control <br />Financing Authority. Bond Counsel is normally selected by the Industrial <br />Revenue Bonding Authority, but Mebane Packaging's counsel may be utilized <br />in this case. The Inducement Agreement passed by the IRB Authority would <br />allow Mebane Packaging to start spending. <br />IV. Motion of Support in Principle <br />John Gastineau made a motion that the project is a good candidate for <br />approval for an Industrial Revenue Bond. This motion was seconded by <br />Sandy McClamroch and passed unanimously. <br />Minutes Prepared by: Minutes Approved By: <br />R o,, <br />G 9a L(r — (�'c 7 <br />livier Devaud a e Tom Tiemann Date <br />Econ. Dev. Com. Staff Chair, Ind. Fac. Authority <br />Page 2 <br />