Wyoming Lawmaker Expresses Caution On Coal Plant
CHEYENNE, Wyo. (AP) — The Carbon County Commission has approved resolutions supporting a Texas company's plan to issue $545 million in bonds to help fund construction of a planned $2 billion coal-to-gasoline plant.
The Rawlins Daily Times reports (http://bit.ly/xjWl6Y ) that the commission unanimously endorsed issuing $300-million in industrial development bonds and $245 million in tax exempt bonds.
DKRW officials have asked the State of Wyoming to purchase the $300-million bond issue. The $245-million bond issue would be sold on the open market.
State Sen. Phil Nicholas, R-Laramie, is chairman of the Senate Appropriations Committee. He says legislative leadership would be comfortable investing a maximum of between $50 million to $100 million in the bonds.
Nicholas says an investment of $300 million would require the state to hire its own experts to evaluate the project.