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County receives briefing on industrial revenue bonds and exemptions
Summary
Outside counsel Bob Perry explained how industrial revenue bonds (IRBs) and project-exemption certificates (PECs) work, emphasizing the county serves as a conduit and does not assume debt; the briefing was educational and no action was taken.
The commission heard an educational briefing from attorney Bob Perry on industrial revenue bonds (IRBs), project-exemption certificates (PECs) and typical payment-in-lieu-of-tax (PILOT) arrangements used to incentivize economic development.
Perry described the statutory process: a company requests county involvement, the governing body may pass a…
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