Tax-free bonds | Arkansas Blog

Friday, July 4, 2008

Tax-free bonds

Posted By on Fri, Jul 4, 2008 at 10:04 AM

In my mail box today -- copy of a letter from the Friday Firm to the Little Rock School District notifying the district that the Little Rock City Board will vote July 15 on issuing tax-free revenue bonds to build a Sage Foods plant at the Little Rock Port. The vote will include an agreement on a payment by Sage Food in lieu of school and other taxes that won't be assessed because the public technically will own the plant.

I was thinking that since the bond counsel, the Friday firm, also reaps a fair amount of business as the school district's law firm, it would have been nice if this public notice had included as a small courtesy the specifics on the in-lieu-of payments, if any. Should anybody in blogland happen to have access to that information on this holiday, I'd appreciate the details.

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