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Council authorizes bonds to back tourism grants for Central Green and Falls of the Ohio projects
Summary
Council passed Ordinance 2025b01 authorizing capital development revenue bonds tied to hotel tax proceeds to fund two tourism grants in Clarksville: $250,000 for Central Green and $250,000 for the Falls of the Ohio Education Pavilion; the ordinance passed unanimously on first and second readings.
The Clarksville Town Council approved Ordinance 2025 b01 to authorize capital development fund revenue bonds that will use hotel-room-tax revenues as debt service to support tourism-related grants.
Staff said the Clark and Floyd Counties Convention and Tourism Bureau selected two Clarksville projects for funding in its last grant round: "A 250,000 grant for the Central Green community and cultural destination project and a $250,000 grant for the Falls of the Ohio Education pavilion project," the presenter stated. The town is using its bonding authority to assist issuance and staff recommended approval. The ordinance passed both first and second readings unanimously.
Council members recorded the approvals on the record during the meeting; the action allows the tourism bureau proceeds (hotel tax) to be used as debt service on bonds issued to fund the grants.
