A sweet deal gone sour

Dear Boonville, one coffee. Black. No sweetener, said the Moberly city officials. I would imagine a missed interest payment, a downgrade in the credit rating of bonds and a state investigation don’t make for too many restful nights. That the city of Moberly is likely sweating the sweet stuff because it issued $39 million in industrial development bonds to build a plant for an artificial sweetener company, Mamtek, that is now trying to avoid bankruptcy makes a pretty safe bet. But for the the city of Boonville, which signed a three-year $300,000 agreement with the nonprofit organization integral in completing the Mamtek deal, what kind of taste did the economic development gone sour leave?

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A sweet deal gone sour – Columbia Daily Tribune