Sun Pacific Holding Corp (SNPW)

[benjaminc1100]

So you're a Bond expert now...who can't and therefore doesn't read. Try reading this krusty 🤡...

Nick Campanella: SNPW has several options currently set up. We are looking to close on debt or minimal equity positions while using State Inducement Resolution bonds as leverage for securing capital loans from one of our financial institutions which has provided term sheets.

Nick Campanella: We originally were looking at Texas as our plan for manufacturing and decided to search other properties since Texas was 5 times more expensive and the state did not offer us any incentives. We were fortunate enough to find the property in Elba, where the State of Alabama offered SNPW a 100% tax abatement on sales and use tax as well as a 50M Inducement Resolution. This would allow us to refinance or take out debt funding with a 20-year bond.

This part is so your head doesn't explode...
Inducement Resolution: A resolution adopted by the Issuer or the Borrower to indicate the preliminary intention to issue the Tax-Exempt Bonds, subject to satisfaction of certain conditions precedent which may be satisfied on or after the adoption of a Bond Resolution.

HEAR ME NOW GOONer PYLE or was that not clear enough!!!!!!!!!!!!!!!!!