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Mamtek bond issue sparks call for Moberly audit

Tuesday, November 1, 2011 | 7:45 a.m. CDT; updated 9:29 a.m. CDT, Tuesday, November 1, 2011

MOBERLY — A Republican lawmaker from the Moberly area is at odds with the Missouri House leader on whether the city should be audited because of a failed deal for an artificial sweetener factory.

Last week, House Speaker Steven Tilley suggested the state auditor should look into Moberly's finances, as well as the tax credit programs run by the Department of Economic Development. Tilley cited the failure of Mamtek U.S. Inc., which had received a $39 million bond issuance from Moberly and a pledge of additional state incentives to open a factory in Moberly.

But state Rep. Randy Asbury, of Higbee, said there's no need to audit Moberly. Although Mamtek missed a bond payment, Asbury said the city has no bond liability and is not in financial danger.

 


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