Politics & Government
Oconee County Industrial Development Authority Approves Payment Against Caterpillar Bond
Payment for Caterpillar bond is part of a $120,500 budget approved by the Authority.
The Oconee County Industrial Development Authority agreed on Monday to contribute $50,000 to the nearly $700,000 payment due next year for the bond for Caterpillar, but IDA Chairman Rick Walker told anyone who was listening not to expect a similar payment in the future.
The payment for the Caterpillar bond was part of the $120,500 budget approved by the Authority at its regular meeting in the Courthouse on Monday afternoon.
Final approval of the budget and bond payment followed a detailed presentation and discussion of the budget and of the bond payment details.
During the nearly half-hour discussion, however, no one mentioned the word Caterpillar.
Even the item on the budget was labeled simply ‘ALLOCATION - REVENUE BOND, SR2012, DEBT.”
For more on the story, go to Oconee County Observations.
Pictured: IDA Chair Rick Waller.