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Industrial Development Bonds (IDBs), the type of bonds proposed for financing of an adult home in Harris Hollow, are funded privately in accordance with federal and state regulations.
The federal government established IDBs several years ago as a means whereby each state could promote industrial growth and development. IDBs are attractive to developers because they offer legitimate low-interest loans.
In addition, the bonds, which are purchased by private citizens who actually finance IDBs, are at
86.0%