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INDEPENDENCE — Grayson County will use $150,000 from its Community Development Fund to pay back money to the Virginia Tobacco Commission owed by Universal Food and Beverage Co.
The company owned a water bottling plant in Independence before filing for bankruptcy about three years ago.
Grayson National Bank purchased the plant, located off U.S. 21, following a public auction in November.
Grayson is obligated to repay the money after Universal broke promises made in a performance agreement, which included creating hundreds of jobs.
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