Board Bill Number 161 In Session 2024-2025

Summary

This Board Bill authorizes the City to issue taxable industrial revenue bonds in a principal amount not to exceed $41,000,000 to finance the costs of a proposed industrial development project for Anheuser - Busch, LLC. The proposed project includes new equipment and other personal property to support the Company's operations. The project will also help the City meet its clean energy goals by reducing the Company's reliance on fossil fuels. The industrial development bonds authorized by this Board Bill will be secured solely by lease payments made by the Company. The purpose of the bonds is to facilitate a 10-year, 50% personal property tax abatement on the equipment and other personal property acquired as part of the project. The bonds do not constitute a debt of the City and are not payable from any City tax revenues.

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