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Commission OKs industrial revenue bonds and tax exemptions for Hillsborough Industries (Ordinance 5189-25)
Summary
After a public hearing, the commission approved ordinance 5189-25 to authorize industrial revenue bonds for a new Hillsborough Industries facility; the financing structure includes federally tax-exempt A bonds and a $2 million B bond to document remaining project proceeds and enable property- and sales-tax exemptions.
The Newton City Commission approved ordinance 5189-25 to authorize industrial revenue bonds for a new manufacturing facility constructed by Flint Hills Industries, doing business as Hillsborough Industries.
Sarah Steele of Gilmore and Bell, the city's bond counsel, described the financing: about $8…
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