LETTSWORTH, La. (AP) — A Florida company that plans to build five fertilizer plants in Pointe Coupee Parish said the project has taken another step forward with the Louisiana Attorney General's approval of a $1.25 billion tax-exempt bond issue that will help pay for the project.
In April, BioNitrogen Corp. of Doral, Fla., received the state Bond Commission's permission to issue the bonds. The Advocate reports (http://bit.ly/14CKNF0 ) the company plans to build five plants that will convert agricultural waste into fertilizer.
The state Attorney General's Tax Equity and Fiscal Responsibility Act approval is a pre-condition to issuing the tax-exempt bonds.