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Anthony trustees postpone vote on ordinance to double industrial revenue bond to $80 million
Summary
Trustees delayed action on an ordinance presented by Valley Cold Storage, LLC to amend a $40 million Industrial Revenue Bond to $80 million after concerns about public-notice documentation; the board voted unanimously to postpone until the affidavit of posting is received.
The Anthony Board of Trustees postponed consideration of an ordinance that would amend and restate a $40,000,000 Industrial Revenue Bond to increase the maximum principal to $80,000,000. Representatives of Valley Cold Storage, LLC presented the proposal during the meeting on Feb. 18, 2026.
Trustee Fernando G. Herrera moved to postpone the ordinance until the next regular meeting pending receipt of the affidavit of posting for the required public notice; MPT Jose G. Garcia seconded. The motion carried unanimously, 4-0. Trustees discussed the need for complete notice documentation before taking formal action.
The postponement leaves the substantive terms of the proposed bond amendment — including the final borrower obligations, project scope and any related lease or indenture changes — unresolved. Board members said the affidavit of posting must be submitted before the item returns to the agenda.
No vote on the ordinance’s merits occurred. The ordinance will return to a future meeting once the city has confirmed statutory notice requirements have been satisfied.
