No vote on $7 million bond request for Norcom
by Ray Lightner
Mar 06, 2013 | 1638 views | 0 0 comments | 5 5 recommendations | email to a friend | print
The Spalding County Board of Commissioners did not vote Monday on a request for $7 million in industrial revenue bonds for Norcom.

Spalding County Attorney Jim Fortune said the county’s “bond counsel realized we didn’t need a motion. They misread it. We don’t need it.”

The request came from the Griffin-Spalding Development Authority, and County Manager William Willson Jr. said that this would not affect or deny the bonds.

“They just don’t need action from this board,” he said.

The Development Authority can issue the bonds, Fortune said, “but when is still up in the air.”

The bonds were to be used to purchase equipment the Development Authority will own and lease to Norcom for use in its manufacturing operations with the bonds paid back with the ad valorem taxes Norcom pays on the equipment.

Fortune recommended that the county commissioners take a vote to remove the item from Monday’s agenda. The board voted 4-0 to do so.
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