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Jasper County Auditor's Office
115 W Washington St
Suite 200
Rensselaer, IN 47978
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Industrial Revenue Bonds

Industrial Revenue Bonds and Economic Development Bonds provide a financing method for economic development projects.  Bonds can be issued by the County Council which then loans the proceeds to a private company.  The company issues a promissory note and the bonds are payable from the payment on the note only.  The issuer, the County Council, has no liability.

There are state laws and procedures, as well as federal laws that must be followed for the bonds to qualify as tax-exempt.  The applicant must hire its own bond attorney to provide representation through the approval process.

The use of bonds has decreased in recent years due to low interest rates and readily available private financing which make tax-exempt financing less attractive.  However, it is still advantageous for some projects.  Those interested in exploring this financing method are urged to first seek the advice of a financial consultant or bond counsel to determine its suitability for the particular project.