Posted on 04/01/2013 4:52:46 PM PDT by WKB
JACKSON, Miss. (AP) — The Mississippi House on Saturday passed a bill to help finance buildings for suppliers that might locate at Nissan Motor Co.'s plant near Canton.
The bill was blocked from going to Gov. Phil Bryant immediately because some House members are seeking a second round of debate.
Senate Bill 2920 would allow the Madison County Economic Development Authority to issue industrial development bonds, which would be repaid by Nissan. The local authority would own buildings that would be home to suppliers that are brought in to support an expansion of Nissan's assembly plant on Interstate 55.
(Excerpt) Read more at chron.com ...
Mississippi ping
It has now been approved and on the way to the Gov.
1. If these are county bonds, and the state has no responsibility/guarantees, then why is there even a bill to go to the governor. 2. It says that the county will OWN the buildings. Why. Isn't their a private developer willing to put them up? 3. The main reason that industrial development bonds began decades ago was to take advantage of the lower interest rates that governments paid to borrow, as opposed to corporations. Along with that came the additional break from the lower rates that state and municipal tax-exempt bonds enjoyed compared to corporate and Treasury bonds.
Interest rates art are at decades level lows..in addition , I suspect that Nissan's credit rating now is BETTER than Mississippi's.
Didn't the good people of Miss.. learn ANYTHING from the Jackson County multi-billion bankruptcy?
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