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Board approves first reading for industrial development revenue bonds for Butterfly Palace expansion
Summary
The city—s bond counsel briefed the board on implementation of a previously approved Chapter 100 plan for the Butterfly Palace expansion. The ordinance (Bill 66‑08) authorizes taxable industrial development revenue bonds not to exceed $11.5 million, sale/leaseback documents and protections for the city; the board approved first reading 6–0.
Sarah Granath with Gilmore & Bell, acting as municipal bond counsel, summarized the Chapter 100 implementation phase for the Butterfly Palace expansion. The board had approved a Chapter 100 plan earlier; the item before the board was the implementation documents that…
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