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	Name:	Maverick -
	Subject:	Maybe a Little Clearer Now
	Date:	10/27/2007 10:08:30 AM

After reading the article in the Outlook this morning.

Excerpts:

To afford the bond, the Lake Martin Area Industrial Development Authority entered into agreement with the county commission to use its credit in order to earn the bond.

The money then would be borrowed by the county commission, but much of the debt would be the responsibility of the authority, according to Beck.

"[The authority doesn't] have the assets to borrow," Beck added. "That's why it is going through the county."

The initial agreement between the authority and the commission would be that Sejin would lease the building for up to two years and then pay up to $6 million for the building. That money would be put directly into retiring the bond's debt, according to Beck.

However, the remainder of the bond issue would be left for the county to repay, thus the total debt would be paid in full by 2011, according to Beck.

URL: Suit filed against taxpayers