Newspapers / The Charlotte Post (Charlotte, … / Jan. 15, 1981, edition 1 / Page 17
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Roy Thompson, Jr. ~~ SMALL USINESS NEWS & VIEWS Industrial Revenue Financing An excellent source of financing lor larger North Carolina firms is the state's industrial revenue bond financing program. Industrial revenue financing is a financial tool that permits a county lo issue bonds to raise funds for local industry. The funds can be used to purchase land, construct a facility or equip a factory. The local firm ten enters into an agreement to lease or purchase the facility and to pay the principal and interest on the bonds. The firm also pays for all of the expenses of maintaining, insuring, and repair ing the new facility. Now the primary advantage of this form of financing is that the bonds are tax free and are general b lower in cost than regular bond i>sues. These bonds are exempt Irom all present Federal Income Taxes and are exempt from SEC registration. In addition the firm receives the regular investment tax credit and takes deductions for all interest and depreciation ex penses. Technically the firm can obtain too percent financing of a new manufacturing plant to include cost of the site, purchase and installation of machinery and equipment, interest during con struction, and all legal expenses of the bond issue. In addition the bonds can be used for special pollution control equipment and facilities. A pollution control project will need to be certified by the North ( arolina Division of Environment al Management and can be for an existing industry, an expanding industrial plant, or for a proposed new facility. A new manufacturing expansion or new facility would qualify if it creates new jobs, if the average wages paid will be above the average manufacturing wage in that country, and if there is no major adverse effect on the en vironment. These Trill Us trial revenue bonds are the liability of the firm and not of the country or state govern ment The first step in seeking this type of financing is to apply to your local industrial development board or county commission. The entire bonding process can oe accompnsnea in iweive weexs, however, it generally takes 90 to 120 days for approval, placement and sale of these bond issues. There are two rules to con sider. The $1 million rule provides that a unit of government may issue bonds up to $1 million. For example, to finance a $1,200,000 plant expansion, the firm might seek at $1,000,000 industrial re venue bond issue and finance he $250,000 excess from its own work ing capital or term loans. The $10 million rule limits capi tal expenditures to that amount over a six year period. This in cludes three years prior to an issue and three years following the bond issue.. Inquiries on this method of financing can be directed to Bruce Strickland Jr., N.C. Department of Commerce, 430 N. Salisbury St., Raleigh, N.C. 27611 or call 919-733 5297. For additional information write this column at Economic Develop ment Division, Center for Improv ing Mountain Living, Western Carolina University, Cullowhee, N.C. 28723 or call 704-227-7492. ORDER YOUR CHARLOTTE POST • NOW! CHARLOTTE’S MOST WIDELY READ WEEKLY Just Mail In The Coupon Listed Below: Please Send ME The Charlotte Post Enclosed is the sum of: $13.52 (Please Print) NAME ADDRESS CITY-STATE-Zl P SIGNATURE Mail To: The Charlotte Post P. O. Box 30144 Charlotte, N.C. 28230 • ___ a _ • . . _^ a _________.__ . _ a- - _ _, The Paper Chase Returns To Home TV Screens January 20 After a two-year hiatus, “The Paper Chase,” the critically ac claimed series about a group ol first year law students and their inlperious professor, will return to television bn January 20 at 10 p m ON CENTER, Channel 58. Based on John Jay Osborn Jr.'s novel of the same title - from which the film was also taken — the series follows five young law stu dents at a top-flight Eastern school ‘In Touch’ To Look At Black College Survival WBTV Community Affairs Director Ken Koontz hosts "In Touch: United Negro College Fund - It Makes The Difference," Sun day, January 18th at 6:30 p.m. on WBTV, Channel 3. Joining Koontz for a panel dis cussion will be North Carolina UNCF Director Cynthia Perry and UNCF Volunteer Curt Peters. The JJnited Negro College Fund .is a private, non-profit organiza tion that provides funding to 41 predominantly Black private col leges and universities in the United States. What this organization does and why it is so important to the survival of the 41 member schools, will be the topic of conversation for Koontz and his guests on the 30 minute program. Keep your out-of-town friends informed on what’s happening in Charlotte by sending them a copy of the Charlotte Post each week. The cost is only $13.52 per year. who band together in a study group, meeting regularly to share notes and to go over points of law By revealing their successes and failures, their friendships and ani mosities, their personalities and ambitions, the series depicts the adventures, "crises and personal growth of these students In “The Paper Chase," John Houseman recreates the role which won him a 1973 Academy Award for Best Supporting Actor He plays the great Professor Charles W. Kingsfield, a stern and flinty professor of contract law, whose aim is to turn first-year law students < with brains, he claims, of “mush") into Socratie scholars and hard-thinking lawyers. Often his demands seem to go beyond the boundaries of human capabilities dames Stephens plays young law student James T. Hart, whose study group is the focus for the series, and Francine Tacker is • Elizabeth Logan. Hart’s fellow law student and a member of the study group Houseman also hosts the series by introducing, summarizing and commenting on the issues raised in each of the 13 episodes which were originally seen on CBS Robert C. Thompson, who served as produceTonhe motion-picture ’’The Paper Chase," is executive producer of the television series John Jay Osborn Jr., who wrote the novel, is the scriptwriter of several of the series' episodes. AMERICAN DRY <mB5 & LAUNDRY EMPLOYEE OF THE WEEK Doretha Rushing Pants Presser Doretha has been with us 5 years and has had 5 years prior experience. She enjoys her work and co-workers. Doretha is a deconist at Myers Tabernacle on Cherry St. A Devoted Christian, Mother & Employee. I i 1806 N. Graham St. 317 East Moreheari St. i 332-1667 333-6111 1__ Hours; 6:30 a.m. - 6:30_p.m. IN NED OF A CAR? Best Buys In Town! Buy Here, Pay Here No Credit Needed Cars Start At *199°° Down JAMES ASSOCIATES 332-7600 1201 S. Tryon St. 332-3727 3039 E. Ind Blvd. J Tena’s House of Charm -presents REUBEN of Los Angeles “International Hairstylist " GEOMETRIC & ISOMETRIC CUTTING-NOVAS •PERMS«CURLS»BLOW CUTS*ALL CHEMICAL RELAXERS*COLD WAVES*CONDITIONING •AND EVEN THERMO PRESS & CURL "Ladies Come On Out! Let Reuben have an affair with your hair!! signed. Miss Tenti 1315 Beatties Ford Rd.
The Charlotte Post (Charlotte, N.C.)
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Jan. 15, 1981, edition 1
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