Lauderdale County supervisors Monday approved millions of dollars in bonds to bring a new business here.
The board approved almost $17 million in general obligation industrial development bonds. Most of that money will go to help renovate the old Delco-Remy building for Tower Industries, the new company planning to locate there.
The rest will go to build access roads at the new industrial park just off Interstate 20-59.
"What we're trying to do is position ourselves so when these other industries that we're in negotiation with say they're ready to move to Lauderdale County we will have all the money in place to do the things that are necessary for us to bring in more industry here," said Joe Norwood, president of the Lauderdale County Board of Supervisors.
The board will immediately issue $10 million in bonds. The rest will be kept in reserve for any future economic development project that requires county money.
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