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Durham commissioners approve resolution for up to $40 million RTI revenue bonds; county not on hook for repayment, bond counsel says
Summary
The Board unanimously adopted a resolution July 8 approving in principle up to $40 million in Public Finance Authority revenue bonds for Research Triangle Institute; bond counsel said proceeds will finance enterprise software and the county will not be responsible for repayment.
Durham County commissioners unanimously adopted a resolution July 8 approving in principle the issuance of up to $40 million in Public Finance Authority revenue bonds to benefit Research Triangle Institute (RTI).
Jim Twiddy, an associate with McGuireWoods serving as bond counsel, told the Board that the proceeds would be loaned to RTI and…
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