Tuesday, July 26, 2011

Sanpete County Commission considers bond for Moroni Feed

Moroni Feed Co. executives are asking Sanpete County to sponsor a $4.1 million industrial bond to upgrade its feed plant. Kent Christensen, vice president of live production for Moroni Feed, told county commissioners
Tuesday the money would go toward two pelletizing machines that are necessary to keep the business competitive.

The company is seeking a county sponsorship of a “private activity bond” (PAB) from GE Capital. The bond would be secured by the company’s assets, and the county would not be liable for the bond’s repayment. Sanpete Messenger