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One Million Dollar Issue
If the facility to be financed does not qualify as an exempt facility
and is used in the trade or business of a for-profit person or enterprise, it is possible
to finance the facility through the issuance of not exceeding one million dollars of
industrial development bonds. The small issue exemption may not be used to finance working
capital or inventory, and may only be used to finance property or items which are capital
in nature.
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