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Minutes for the City Council meeting on February 20, 2007.
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PUBLIC HEARING - 6:15 P.M. - A public hearing was held concerning authorizing the issuance of the issuer’s industrial development revenue bonds in an amount of up to $91,000,000 for the benefit of Alberto-Culver USA, Inc. Councilman Hargis questioned who would be responsible to make sure the performance bonds are in place. Attorney David Menz stated that would be on a checklist to be performed by the City Attorney when they close. He added there is no expense to the City. Dr. Richard Wang questioned what provisions have been made with the company to help the Nettleton School System and the state schools. City Attorney Phillip Crego stated Dr. Wang was correct in stating the property is not subject to taxation. Mr. Menz stated the company entered into a payment in lieu of taxes agreement that is currently being looked over by the county judge. He added the Nettleton School Superintendent has reviewed the agreement and some adjustments were made at the request of the superintendent. He explained there will be monies paid in lieu of state taxes pursuant to state law. No opposition was voiced.
CITY COUNCIL MINUTES - February 20, 2007
The Jonesboro City Council met Tuesday, February 20, 2007, at 6:30 p.m. Members present were: Mayor Doug Formon, City Clerk Donna Jackson, City Attorney Phillip Crego and eleven council members. Those members were: Frierson, Province, Hargis, Moore, Williams, Perrin, Street, Johnson, Dover, Furr and McCall.
Councilman Moore moved, seconded by Councilman Street, to approve the minutes of the February 6, 2007, regular meeting and the February 12, 2007, special meeting as delivered. A voice vote was taken resulting in all members voting aye. Those members were: Frierson, Province, Hargis, Moore, Williams, Perrin, Street, Johnson, Dover, Furr and McCall.
Councilman Moore offered the following ordinance for first reading:
ORDINANCE AUTHORIZING THE EXECUTION AND DELI...
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