I was reading about these recovery zone facility bonds that recently were awarded to Berry Plastics and Bowersock Mills & Power Co. I saw where they were part of the stimulus program. Does that mean the government is paying for these projects?
No. Paying off the bonds will be the responsibility of Berry and Bowersock. The advantage the bonds offer over traditional bank financing is that the bonds are exempt from federal taxes. That causes interest rates on the bonds to be about 1 percent less than traditional financing, according to city economic development leaders.