Bond Program Expires

October 10, 1990

Carroll County was a major participant in the federal government's recently discontinued Industrial Revenue Bonds, a tax-exempt, low interest program.

The county was the first in the state to make use of the bonds, issuing a $2.6 million bond to Random House, Westminster, in 1965. The county also was among the last with a $2.25 million loan to Evapco, Inc., Taneytown, Sept. 27. The program expired Sept. 30.

During the 25 years of the program, 27 companies used the bonds to expand or build here.

To date, Congress has not extended IRB program.

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