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JDA switches insurers for Stanton Springs park
Lowered interest rate sought in deal
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In another domino effect of the Wall Street meltdown, the Joint Development Authority, of which Newton County is a member, has had to pursue evasive maneuvers to avoid paying a higher insurance rate on the bonds for Stanton Springs Industrial Park.At the Newton County Board of Commissioners Tuesday meeting, the board voted to accept a Letter of Credit from Bank of America to substitute for the bond insurance policy issued by Ambac Assurance Corporation.Attorney James Griffin, who works for County Attorney Tommy Craig’s office, told the board Tuesday that due to the implosion of many Wall