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County of Ashland, Ohio Deal - Lehman Brothers Collection

County of Ashland, Ohio

Company Deal$4,150,000 industrial development first mortgage revenue bonds
Transaction TypeIndustrial Development First Mortgage Revenue Bonds
Deal DescriptionThe County of Ashland, Ohio, issued the bonds to finance the acquisition, by purchase and construction, of certain real and personal property (the Project) located in the County to provide certain industrial facilities leased to Weil-McLain Company, Inc. (the Company). The Project was used by the Company's Hydr-O-Matic and Swimquip Divisions to manufacture fluid-handling equipment and has been designed in accordance with the specifications and requirements of the Company. A building was constructed at the Project consisting of approximately 200,000 square feet of manufacturing space and 20,000 square feet of office space. The Hydr-O-Matic Division used the Project primarily for manufacturing submersible waste water pumps and waste water collection tanks and the Swimquip Division used the Project primarily for manufacturing swimming pool filter tanks and pumps and other swimming pool equipment. The machinery installed at the Project included various metal fabricating, cutting, and handling equipment. The Company proposed to lease other similar machinery in addition to the machinery purchased with the proceeds of the bonds.
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