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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF 21 <br />THE COUNTY OF ORANGE, NORTH CAROLINA <br />The Board of Commissioners of the County of Orange, North <br />Carolina (the "Board "), met in regular session in the Courtroom <br />of the Old County Courthouse, Churton and Kings Street, <br />Hillsborough, North Carolina, the regular place of meeting at <br />7:30 p.m. on August 6, 1990 with Chairman <br />presiding. The following Commissioners were: <br />PRESENT: <br />ABSENT: <br />ALSO PRESENT: <br />The Chairman stated that pursuant to Chapter 159C of the <br />General Statutes of North Carolina and the regulations thereunder <br />he had been advised that The Orange County Industrial Facilities <br />and Pollution Control Financing Authority (the "Authority ") <br />intended to file an application with the Secretary of the Depart - <br />ment of Economic and Community Development for approval of an <br />industrial and manufacturing project in Orange County, North <br />Carolina, consisting of the construction of an approximately <br />60,000 square foot manufacturing building addition to be located <br />on property owned by Mebane Packaging Corporation, a North <br />Carolina corporation (the "Company "), on Oakwood Street <br />Extension, Mebane Industrial Park, Mebane, orange County, North <br />Carolina and the installation of a.printing press and other <br />equipment in such addition to be used to manufacture packaging <br />for products for retail sale (the "Project ") by the Company and <br />to be financed for the Company by the issuance of approximately <br />$5,5o0,000 aggregate principal amount of bonds of the Authority. <br />such application for approval cannot, under regulations of the <br />Department of Economic and Community Development, be officially <br />received until, among other things, the Board has, by resolution <br />after having held a public hearing, approved the issue of bonds <br />for the proposed Project and approved the Project in principle. <br />The Chairman presented to the Board copies of the <br />Authority's resolution approving the Project and the inducement <br />agreement between the Authority and the Company. The Chairman. <br />then stated that a notice had been published by the Clerk to the <br />Board on July 20, 1990 stating that the Board would hold a public <br />hearing on August 6,'1990 on the proposed revenue bond issue and <br />the Project (the "Notice "). <br />