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HomeIn the NewsBraver On Cigarette: “We have no outstanding bonds.”

Braver On Cigarette: “We have no outstanding bonds.”

Contrary to a widely circulated online rumor, Cigarette Racing Team based in Opa-Locka, Fla., has no upcoming bond payment of  $7.4 million to Dade County, Fla., according to Skip Braver, the owner of the high-performance powerboat company. The company did apply for and was granted an industrial revenue bond of $7.4 million in 2003 (view the public record) for construction of the company’s new facility, but according to Braver the county was repaid in full more than two years ago.

“We actually paid it off early,” said Braver. “We have no outstanding bond payments.”

Braver said he had no idea where that the rumor of an upcoming bond payment started, but repeated that it is completely untrue.

“I don’t know where these things start,” he said. “All I can say is that a lot of (high-performance powerboat) companies would be fortunate to be as financially solid as we are.”

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