Orange County NC Website
Browse       Search
Chapel Hill Herald <br />July 11, 1990 <br />County approves, <br />industrimal,bon- ds <br />Orange board authorizes sale <br />for plant addition, 46 -new jobs <br />By JUUA WHITE <br />The Chapel KU Herald <br />Bonds,,- <br />Continued from Page 3 <br />will consider the bond bid at <br />their next meeting. <br />Company spokesman' Joe <br />Heldreth said the industry, <br />which produces packages for <br />pharmaceutical -, and health <br />and beauty supplies, will pay <br />about $20,000 more in prop- <br />erty taxes after the expan- <br />sion. The company paid about :• <br />$50,000 in 1989, he said. <br />county board Tuesday gave Me- <br />bane Packaging the go,ahead to <br />begin expansion of its western <br />} <br />Orange County facility after <br />agreeing to authorize -the sale of <br />r ; <br />industrial revenue bonds. <br />The packaging own pacq► last <br />.': <br />month had requested <br />�;;;'������; • �; =,.,R. <br />lion in bonds to expand and add <br />about 46 jobs to its work force. <br />W. f <br />The counWs Industrial Facdi. <br />ties and Pollution Control Fi . <br />nancing Authority approved the <br />agreement and authorized the <br />... <br />law firm of Smith : Helms Mul- <br />liss & Moore to act as bond <br />Geof(w WedhUl <br />counsel. � <br />Industrial revenue bonds are. <br />Project can begin. <br />issued for businesses by a finan- <br />cal institution, but have low in- <br />torney Geoffrey - Gledhill said. <br />terest rates and are t. <br />As well as adding a - building; <br />-In exchange, the business meets <br />the - company plans to acquire a <br />state and county requirements: <br />$3.6 won printing press. <br />it uding environmental regula- <br />The county is not at any <br />Members of the county board <br />financial . risk for the bonds, as <br />to the agreement, and <br />have praised the Afo <br />company for its expansion prof -. <br />Mebane Packaging will under - <br />take all of the costs and .obliga- <br />ect+ and said its facilitlr was "ir4* <br />tions of setting up the sale of <br />pressive." <br />the bonds. . <br />The <br />The county commissioners <br />�g�Y equipment <br />construction supplies, county at <br />See BONDS, Page 8 <br />Bonds,,- <br />Continued from Page 3 <br />will consider the bond bid at <br />their next meeting. <br />Company spokesman' Joe <br />Heldreth said the industry, <br />which produces packages for <br />pharmaceutical -, and health <br />and beauty supplies, will pay <br />about $20,000 more in prop- <br />erty taxes after the expan- <br />sion. The company paid about :• <br />$50,000 in 1989, he said. <br />