Special Nov. 25 meeting on $4 million in county business incentives for Plasticard
Full announcement from Buncombe County:
The Buncombe County Industrial Facilities & Pollution Control Financing Authority will hold a special meeting on Monday, November 25, 2013 at 12 noon in the Planning Conference Room at 46 Valley Street in downtown Asheville to consider the approval of a Resolution Authorizing Execution of an Agreement with Plasticard-Locktech International, LLP, ("Plasticard") Relating to the Financing of an Industrial Project in Buncombe County, North Carolina and Authorizing the Issuance of Bonds of the Authority in the Aggregate Principal Amount of up To $4,000,000.
Plasiticard has requested that Buncombe County and the Authority authorize the issuance and sale of revenue bonds, pursuant to the terms of Article V, Section 9 of the Constitution of North Carolina and Chapter 159C of the General Statutes of North Carolina, as amended, as then in force, in an aggregate principal amount of up to $4,000,000 for the purpose of paying all or a portion of the cost of the acquisition and installation of new machinery and equipment to be located at 605 Sweeten Creek Industrial Park, Asheville, Buncombe County, North Carolina, which will be used for the manufacturing of magnetic strip cards for the hotel key, gift card and/or other types of industries (the "Project") in Buncombe County, North Carolina.
Plasticard has determined that as a result of the Project approximately 45-50 jobs will be created or saved. Plasticard will be obligated to pay sums sufficient in the aggregate to pay the principal of and interest and redemption premium, if any, on the bonds when and as the same shall become due and payable.