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REQUEST FOR INDUSTRIAL REVENUE BOND - NYLACARB CORPORATION <br />The Board reviewed the following memos dated 7/1/87: <br />MEMORANDUM <br />TO: Board of County Commissioners <br />FROM: Don C. Scurlock, Jr., Chairman <br />Finance Advisory Committee <br />DATE: July 1, 1987 <br />SUBJECT: Nylacarb Corp. "pok <br />At our July 1, 1987 Finance Advisory Committee, the <br />Committee made the following motion: <br />ON MOTION by Mr. Morrison, SECONDED by Mr. Minotty, <br />the Committee unanimously agreed to recommend to the <br />Board of County Commissioners that Nylacarb Corp be <br />denied their application for Industrial Revenue Bonds <br />in Indian River County as the Committee does not see <br />any significant beneficial impact upon the County by <br />this company. Furthermore, it was the Committee's <br />opinion the company would reflect unfavorably upon <br />the County's credit rating as it would be an obli- <br />gation that would be indirectly incurred by the County <br />to the extent of $2,000,000 to employ approximately <br />6 people, 2 of whom would be the principals. <br />MEMORANDUM <br />TO: Board of County Commissioners <br />FROM: Carolyn K. Eggert, Chairman <br />Economic Development Council <br />DATE: July 1, 1987 <br />SUBJECT: Industrial Development Bonds <br />The Economic Development Council recommends that Nylacarb <br />Corp. be given the $2,000,000 in Industrial Development Bonds <br />provided the background of the two principals, and what happened <br />to the two companies that Mr. Cooley sold, can be adequately <br />checked and approved. <br />43 <br />L 7 1967 <br />B00l4uir , � j E 7,? <br />