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Council introduces ordinance to authorize up to $60 million in taxable IRBs for Parkview Place project
Summary
On first reading Oct. 13, University City introduced Bill 9576 to authorize taxable industrial revenue bonds for the Parkview Place project series 2025 in an amount not to exceed $60,000,000; the city attorney noted a missing technical legal description in the packet that has since been added to the official version.
Council member Teeman requested first reading of Bill 9576 at the Oct. 13 meeting. The ordinance authorizes the City of University City to issue taxable industrial revenue bonds for the Parkview Place project series 2025 in a principal amount not to exceed $60,000,000, to provide funds to acquire, construct and improve an industrial development facility, to approve a project plan, and to authorize related agreements and actions.
Before introduction, the city attorney told the council that the project-site exhibit for 701 Westgate in the meeting packet did not include a technical legal description but that an official version received over the weekend does include the missing legal description; the attorney asked the council to be aware of that if it chooses to introduce the bill.
No roll-call vote on Bill 9576 was recorded at the meeting; it was given first reading and remained at introduction stage in the transcript.
