Lowndes County Citizens Fight Bond Issue To Help Hyundai Suppliers - WSFA.com Montgomery Alabama news.

August 8, 2003

Lowndes County Citizens Fight Bond Issue To Help Hyundai Suppliers

They celebrated when a Hyundai suppliers said they would move to Lowndes County, but now a hearing in Hayneville could cause the tier one supplier to move out of Lowndes County.

Representatives from Hyundai say it is unlike anything they have ever seen before. A tiny courtroom filled with attorneys, local politicians met Friday, all to decide if a 7 million dollar bond issue that will be used to fund Daehon Solutions, is valid and legal.

Citizens say it is too much money for the poor county to pay back, and not enough in return. So their asking a judge to decide if it is legal. The consequences include Daehon Solutions pulling out of Lowndes County, but also funding for Hyundai itself and all the other suppliers around the state. What they're saying is if the way this bond issue is structured is ruled unconstitutional, it could mean a closer look at financing for Mercedes-Benz, the Honda plant, it could have a devastating impact.

Circuit Judge Ed Mcferrin is hearing the case. A ruling is expected in the next 10 to 15 days.

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