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Casper staff outlines industrial revenue bond program, council asks for policy and safeguards
Summary
City staff proposed an industrial revenue bond (IRB) program to help recruit and grow capital‑intensive projects, explaining IRB mechanics, tax‑exempt considerations and a proposed application process; council asked for clarity on fees, state volume cap and legal protections and directed staff to draft a resolution and policy for future council action.
City staff laid out a proposed industrial revenue bond (IRB) or conduit debt program during the Dec. 9 work session, describing how IRBs could help finance large capital projects without creating city liability and outlining an approval and oversight process they say will protect taxpayers.
Liz Becker and Jill Johnson explained IRBs are a financing mechanism where the city nominally issues bonds but the project — not the city — repays them; staff emphasized that state statute and case law limit municipal liability. “Bonds are called conduit debt because…
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