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Council authorizes advertisement of ordinance for Gallagher Solar LLC industrial revenue bonds
Summary
Council voted to advertise a public hearing on ordinance 26-05 to allow issuance of industrial revenue bonds for Gallagher Solar LLC and associated bond purchase and lease agreements; voice and roll-call votes recorded a majority in favor and several dissenting votes.
Council considered proposed ordinance 26-05, which would authorize advertisement and a public hearing on issuing industrial revenue bonds for a Gallagher Solar LLC project and the execution of related bond purchase and lease agreements. The motion to authorize advertisement was moved and seconded. The council conducted a voice vote followed by a roll-call; the transcript records a majority in favor with several members voting against and one member absent. The measure was recorded as passed and will proceed to a public hearing as required by ordinance procedures.
What happens next: City staff will schedule and publish the required public hearing for the proposed ordinance and provide council with the bond documentation and any requested financial analysis ahead of the hearing.
