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Jonesboro council approves memorandum of understanding supporting sports complex financing
Summary
The council adopted Resolution 20528 authorizing the mayor and city clerk to enter an MOU with the Advertising and Promotion Commission to support financing and operation arrangements for a proposed sports complex, and acknowledged use of advertising-and-promotion tax revenues and lease revenue bonds as part of the plan.
The Jonesboro City Council on March 18 adopted Resolution 20528 authorizing the city to enter a memorandum of understanding with the City of Jonesboro Advertising and Promotion Commission to support the development of a sports complex.
The resolution acknowledges the commission’s use of revenues from municipal lodging and prepared-food taxes — levied under…
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