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IDB holds public hearing on proposed tax-exempt bond financing for Lindenwood Education System
Summary
The Industrial Development Board convened a federally required public hearing to allow local comment on proposed tax-exempt bonds to finance Lindenwood Education System's purchase of Miller-Mott College; the board took no action and the bonds would be issued by an out-of-state issuer.
The City of Chattanooga Industrial Development Board on Tuesday held a public hearing to accept local comments on a proposed tax-exempt bond issue to finance Lindenwood Education System’s planned purchase of Miller-Mott College.
Jay Moneyhund, serving as local bond counsel, told the board the hearing was being held to “comply with federal tax law” and to provide a forum for any local concerns. “This board is not being asked to issue the bonds or to be…
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