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Lea County opens inducement process for up to $3.18 billion industrial revenue bond for Louisiana Energy Services expansion
Summary
Lea County commissioners voted to begin negotiations on an inducement resolution for industrial revenue bonds that could total up to $3.18 billion to support an expansion by Louisiana Energy Services LLC, with staff and company representatives outlining proposed facilities, phased construction and potential job growth.
Lea County commissioners voted May 22 to begin the inducement process for an industrial revenue bond (IRB) to support an expansion by Louisiana Energy Services LLC.
County staff presented Resolution 25May37R as a nonbinding "inducement" step to signal the county’s intent to negotiate an IRB; the resolution described a potential aggregate principal amount of “up to $3,180,000,000.” Mr. Needham, the staff presenter, said an inducement resolution is an early procedural step and not a final county commitment to issue debt or grant tax relief.
Company representatives Lisa Hardison and John Kirkpatrick described the planned work at the Lea County site as a…
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