United States:
Measure Creates New Borrowing Authority For Additional Economic Development Funding
08 November 2012
Bradley Arant Boult Cummings LLP
To print this article, all you need is to be registered or login on Mondaq.com.
Economic Development News
By a resounding 69% affirmative vote, Alabamians approved a
measure that amends an existing Alabama Constitutional Amendment to
allow the State to issue general obligation bonds to finance
economic development incentives. This new authority permits
periodic borrowings so long as at no time more than $750 million of
bonds issued under the amendment are outstanding. The amendment
results in an immediate increase in the State's borrowing
capacity to $160 million (up from only $30 million). The passage of
the amendment by such a strong margin shows the commitment that the
government and the people of Alabama have to foster economic
development. The state's major business and trade associations,
as well as Governor Robert Bentley, supported the amendment.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Strategy from United States
ESG And The Sustainable Economy Handbook
K&L Gates
Environmental, social, and governance (ESG) and the sustainable economy are concepts that often overlap and frequently intertwine. Whether viewed separately or together...
Flexibility Is Key In Hybrid Capital Investment Strategies
Cohen & Gresser
In recent months, we have seen Blackstone announce that its tactical opportunities business raised $5.2 billion of capital commitments for its fourth flagship comingled fund, this being a substantially higher amount than its third fund.
Restaurant Sector | March 2024 Report
Ankura Consulting Group LLC
This month's Restaurant Industry Update highlights newcomers Sweetgreen and CAVA leading stock gains, alongside notable shifts in pricing strategy and subscription services among key players.