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Sussex approves $60 million bond for Bioenergy Devco


Seaford  Delaware  19973-1238United States
On the recommendation of its Industrial Revenue Bond Committee, Sussex County Council unanimously approved a low-interest solid waste revenue bond for up to $60 million for Bioenergy Devco and its Bioenergy Innovation Center project, a poultry plant waste-recycling facility south of Seaford.
During council s April 27 meeting, Sussex County Finance Director Gina Jennings said Bioenergy Devco will pay all county costs, including lawyer s fees, associated with issuance of the bond. In addition, the company will pay the county one-half of 1 percent of the total amount of the bond used, which could be as much as $300,000.
Jennings said the county is a conduit to pass through bond market money for capital projects in order to get tax-exempt status, which the county has done in the past for The Moorings at Lewes, Perdue Agricycle and NRG. ....

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