GOV
Ordinance 71985
Industrial Development Project for Anheuser – Busch, LLC.
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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Overview
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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01/10/2025
First Reading
Bill text was introduced (2.75 MB PDF).
01/10/2025Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
01/21/2025Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
01/24/2025Second Reading
01/31/2025Perfection
The bill was passed.
02/07/2025Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
02/07/2025Third Reading
The bill was passed.
02/07/2025Delivered to Mayor
02/24/2025Mayor Returns Bill
The bill was approved.
02/25/2025Delivered to Register
03/03/2025Register Returns Notice with Ordinance Number
Register returns ordinance number 71985. Effective date is 03/24/2025
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