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Council approves annexations, IRBs, bond sale authorization, development agreement and substation purchase
Summary
At its regular meeting, the Gardner City Council approved two voluntary annexations, an industrial revenue bond ordinance for a commercial expansion, authorized the sale of general obligation bonds and notes, approved a development agreement with Arise Homes and authorized purchase of a substation switchgear and certification.
The Gardner City Council on May 1 approved a package of items that included two voluntary annexations, an industrial revenue bond ordinance for Ford RV, authorization to offer general obligation bonds and notes for public sale, a development agreement with Arise Homes LLC and the purchase of substation switchgear.
The council unanimously adopted Ordinance No. 2830 to annex two parcels that join land already inside the city and later adopted Ordinance No. 2832 to annex two additional parcels intended for single-family development. The council also approved Ordinance No. 2831 authorizing the issuance of taxable industrial revenue bonds (IRBs) not to exceed $2.8 million related to Ford RV phase 1; the bonds will be used to allow a sales-tax exemption on construction materials and equipment and are not general obligations of the city.
Counci…
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