DURING
THE JANUARY MEETING—THE THOMASTON-UPSON DEVELOPMENT AUTHORITY
WELCOMED TWO NEW MEMBERS MARK IRVIN AND CHASE PHILLIPS AND
APPROVED RESOLUTIONS FOR INDUSTRIAL REVENUE BONDS FOR TWO
LOCAL COMPANIES WHO WANT TO INVEST MORE IN THE COMMUNITY.
STANDARD
TEXTILE—A $12 MILLION IRB AND INTERFOR ONE OF THE
LARGEST BONDS EVER, $112 MILLION .
THE
BOND FOR INTERFOR HAS A TAX ABATEMENT FOR COUNTY TAXES
ONLY.
WITH
STANDARD TEXTILE'S BOND IT REFLECTS A TOTAL INVESTMENT OF
OVER $25 MILLION IN RECENT YEARS.
INTERFOR-A
CANADIAN COMPANY-- AIMS TO USE THE FUNDING TO UPGRADE ITS
PLANT AND RETAIN CURRENT JOBS.
ALTHOUGH
THE IDA ISSUES THE BONDS IT HAS NO LIABILITY IN THE
TRANSACTION, ITS ONLY A CONDUIT—ACCORDING TO THE BOARD'S
ATTORNEY JOEL BENTLEY.
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