7/1/1981 - Laserfiche WebLink

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WHERE A GROUP OF CITIZENS COULD GIVE ADVICE AND MAKE RECOMMENDATIONS TO THE BOARD. COMMISSIONER FLETCHER ASKED MR. DAVIS IF HE WOULD BE MOVING TO THIS COUNTY WITHOUT THE FINANCE AUTHORITY. MR. DAVIS RESPONDED THAT THEY COULD NOT AFFORD TO MOVE HERE WITHOUT IT. MR. NORTON ONCE AGAIN ENCOURAGED THE BOARD TO APPROVE THIS PROGRAM FOR INDUSTRIAL REVENUE BONDS AS THE CHAMBER OF COMMERCE WAS INTERESTED IN PROTECTING THE COUNTY, AND ALSO FOR PROVIDING JOBS HERE FOR THE UNEMPLOYED. MR. BOBROFF, DEPARTMENT OF COMMERCE, STATED THAT THE INDUSTRIAL REVENUE BONDS WOULD BE EXTREMELY IMPORTANT IN THE STATE OF FLORIDA FOR THE STIMULATION OF ECONOMIC GROWTH. HE CONTINUED THAT MISSISSIPPI WAS THE FIRST STATE TO USE THEM AND NOW 47 STATES USE THIS PROGRAM. MR. BOBROFF REPORTED THAT THIS WOULD CREATE JOBS FOR THE PEOPLE THAT ARE ALREADY HERE, AND FOR THOSE THAT WILL MOVE HERE PLUS FOR THE CHILDREN OF THIS COUNTY. HE NOTED THAT IN 1958, $120 MILLION WORTH OF ISSUES WERE BROUGHT ABOUT; IN 1975, $1.8 BILLION OF ISSUES WERE DONE; AND IN 1980, THERE WERE $8.4 BILLION WORTH OF ISSUES GENERATED. MR. BOBROFF THOUGHT THIS COMMUNITY HAD A LOT TO OFFER, BUT SO DO A LOT OF OTHER COMMUNITIES AND STRESSED THAT UNFORTUNATELY, THIS FIELD WAS COMPETITIVE - THE INDUCEMENT TO COME TO AN AREA WOULD BE WITH INDUSTRIAL REVENUE BONDS. HE EXPLAINED THE IMPORTANCE OF OBTAINING AN INDUCEMENT AGREEMENT FROM THE COUNTY IN ORDER TO PROCEED WITH THE INDUSTRIAL REVENUE BOND PROGRAM. A LONG, DETAILED DISCUSSION FOLLOWED ABOUT THE COMPOSITION OF AN INDUSTRIAL DEVELOPMENT AUTHORITY, AND IT WAS POINTED OUT THAT THE BOARD OF COUNTY COMMISSIONERS COULD ACT AS THIS AUTHORITY. COMMISSIONER BIRD INQUIRED ABOUT THE OWNERSHIP OF PROPERTY ACQUIRED WITH THE BONDS. ATTORNEY WHEELER INTERJECTED THAT THE COUNTY OWNS THE PROPERTY AND IT IS NOT REMOVED FROM THE TAX ROLL - IT IS SIMILAR TO A LEASE -BACK. mu - 46 PAGE 75 7 J