MARYVILLE, TN Developers are working to decide on the entrance road and financing for the luxury resort hotel planned at the Royal Oaks Golf Club in Tennessee. One of the big obstacles is determining an access road. Developers want to have the easiest entrance on the busiest street- which has caused many objections from the city counsil. Also the hotel s financing is being tailored by Robert Fowler, president/Public Finance Consultants in PA. He told council members that they could create a special development corporation that would issue tax-exempt bonds with no financial obligations for city. Fowler said he envisions issuing $20 million in bonds to be paid back in 20-25 years. They will be sold to investors in $100,000 increments. (12/14/00) Source: The Knoxville News-Sentinel, TN
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