Alan Neves, president of Biomass International Inc., has clarified some statements attributed to him in news reports when the Weber County Commission approved a resolution authorizing the issuance of $25 million in industrial revenue bonds with the money being loaned to the company to construct a solid waste recycling plant.

Neves was quoted as saying he was optimistic that a contract for the purchase of the bonds and related loan agreements with Biomass will be entered into by the end of the year.He said there can be no assurance that the bond financing for the Biomass recycling plant will be consummated and he specifically disclaimed prior published reports asserting that details of a purchase contract "likely" will be worked out before the end of the year.

The county's authorization for the issuance of the bonds is only a preliminary step in a complex bond financing process, and although Biomass and the county are negotiating with potential purchasers of the bonds, to date no final purchase agreement has been reached with a buyer, he said.