(The other Shelby County municipalities have their own IDBs.) The IDB can also provide tax-exempt
industrial development bond financing to assist qualified projects.
The Massachusetts Development Finance Agency has issued a $7.04 million tax-exempt
industrial development bond on behalf of Horn Packaging Corp., an Ayer manufacturer of protective packaging and shipping materials.
Barbara Left, (R-Paradise Valley) Chairman of the House Commerce Committee, for her sponsorship and outstanding effort on HB 2390, the Multifamily
Industrial Development Bond Allocation bill.
This discussion suggested a number of ways in which NLC policy and lobbying may need to be strengthened, including, dynamically shifting private use percentages with redevelopment bonds, solid waste facility bonds, and a constantly changing market for recyclables, and the difficulty of controlling the capital expenditures of a private firm that may be using facilities created through a city-sponsored
industrial development bond.
A Northern California daily newspaper recently won city council approval for a $5.1 million
industrial development bond package to construct a new newspaper plant, but due to time constraints in meeting an Oct.
The
Industrial Development Bond Cap was created by the Federal Tax Reform Act of 1986 and establishes an annual bond volume cap ceiling for the issuance of certain tax exempt private activity bonds issued by the State and other authorized entities during a calendar year.
The Oregon Economic and Community Development Department has provided $750 million in
industrial development bond financing to Oregon companies since the state launched the bond program in 1975.
According to a nationwide survey of states' private activity volume cap usage by The Bond Buyer, the portion of the cap devoted to the
industrial development bond sector shrank significantly in 2001.
These companies were financed through ADFA's and the Arkansas Economic Development Commission's
Industrial Development Bond Program, which enables the state to expand its industrial base and create employment by offering tax-exempt and taxable interest rates.
Finally, the authors discuss the growth of
industrial development bond (IDB) issues in the Detroit area.
Advanced Environmental Recycling Technologies Inc., in a filing with the Securities & Exchange Commission, disclosed that it paid off and terminated the Series 2003 bonds and a $1 million loan to Regions Bank and then refunded a prior 2003
industrial development bond obligation.
The Arkansas Economic Development Commission approved a $5 million guarantee on an
industrial development bond for a Welspun plant in June.
