In connection with the lease, the registrant and the Effingham County Industrial Development Authority entered into the Bond Loan Purchase Agreement, pursuant to which the Effingham County Industrial Development Authority agreed to issue up to $300,000,000 in Taxable Industrial Development Revenue Bonds. The bond will be issued as a single bond draw-down instrument, which will mature on July 1, 2033 and bear interest at a rate of 6.00% per annum, payable on July 1 of each year. The proceeds of the bonds will be used by the Effingham County Industrial Development Authority to acquire the movie studio project to be developed on the land, which project will be leased to the registrant.
This is my opinion and ONLY My opinion. Please verify with your own Due Diligence.
