The Jackson City Council on June 17 adopted a resolution authorizing issuance of tax-increment financing (TIF) bonds for the Eastover project, approving up to $2,553,000 of principal for the 2025 series as part of an overall authorized aggregate not to exceed $7 million.

The resolution authorizes issuance of the series 2025 bonds to pay infrastructure costs and authorizes city officers to execute required documents, including private placement or bond-purchase agreements and related documents. The council’s motion specified a not-to-exceed principal amount of $2,553,000 for the 2025 series within an aggregate authorization of up to $7 million for the overall Eastover TIF project financing.

Council held the matter under regular order and approved the resolution. The recorded tally on the matter was five in favor with two abstentions at the motion stage reported in the minutes.