The Daily Times Leader reports that officials with the Golden Triangle Development LINK had requested that the board be ready to issue bonds when a major industry decides to locate to Clay County.
The decision came after a public hearing Monday drew no opposition.
"The success that we have seen economically here throughout the region, Clay County is now a part of it," said county economic developer Ron Maloney.
"That's partly because we're proactive in not reactive. We requested this bond issuance (to have) the ability to be able to move quickly and concisely when an opportunity comes. .Instead of being 90 days behind and chasing, we're actually ahead and can show and demonstrate to whatever company that is that this county is able to do what it says it's going to do and do it quickly."
Maloney said the money will be used specifically for sewer, water and other infrastructure services that are needed at the site.
Officials said the bond authority will be available for two years before it expires.