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Industrial Development Bonds
Industrial Development Bonds are tax-exempt Private Activity Bonds issued by the Industrial Development Bond Board of the County of McMinn (IDB) on behalf of manufacturing facilities to finance qualified capital projects. Tax-free bonds are available for new projects with investment up to $10 million. Investment in real and/or personal property cannot exceed $10 million within a 3-year period or the bond will become a taxable issue. Rates normally are 70 percent (70%) of prime plus handling.
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