|Published: 9:31 AM, 11/29/2012
Author: Nelson Morais
Source: The Newport Plain Talk
NEWPORT-The Cocke County Regional Planning Commission
voted Tuesday, Nov. 27, to stop issuing letters of credit to developers in the
county, but left open the possibility that in the future they might allow
certified bonds to cover the building of roads in new developments.
At Tuesday's meeting, the commissioners voted unanimously
to change the subdivision regulations to stop accepting letters of credit, or
bonds, for developments.
After the vote, Commissioner Lee Willis said perhaps the
commission could recommend the acceptance of bonds certified by bond
developers, and which could perhaps be allowed to be renewed once during the
term of the bond.
For more details, please see the Thursday edition of the
Newport Plain Talk.
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