Board Bill Number 161 In Session 2024-2025

Industrial Development Project for Anheuser – Busch, LLC.

Summary

This Board Bill authorizes the City to issue taxable industrial revenue bonds in a principal amount not to exceed $41,000,000 to finance the costs of a proposed industrial development project for Anheuser - Busch, LLC. The proposed project includes new equipment and other personal property to support the Company's operations. The project will also help the City meet its clean energy goals by reducing the Company's reliance on fossil fuels. The industrial development bonds authorized by this Board Bill will be secured solely by lease payments made by the Company. The purpose of the bonds is to facilitate a 10-year, 50% personal property tax abatement on the equipment and other personal property acquired as part of the project. The bonds do not constitute a debt of the City and are not payable from any City tax revenues.

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Latest Bill text:

Overview

Session: 2024-2025

Introduced: 01/10/2025

Primary Sponsors: Cara Spencer

Latest Activity: Register Returns Notice with Ordinance Number

Ordinance: 71985 effective 03/24/2025

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

  • 01/10/2025

    First Reading

    Bill text was introduced (2.75 MB PDF).

  • 01/10/2025

    Referred to a Committee

    The bill was assigned to the Housing, Urban Development and Zoning Committee.

  • 01/21/2025

    Committee Hearing

    The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.

  • 01/24/2025

    Second Reading

  • 01/31/2025

    Perfection

    The bill was passed.

  • 02/07/2025

    Engrossment

    The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.

  • 02/07/2025

    Third Reading

    The bill was passed.

  • 02/07/2025

    Delivered to Mayor

  • 02/24/2025

    Mayor Returns Bill

    The bill was approved.

  • 02/25/2025

    Delivered to Register

  • 03/03/2025

    Register Returns Notice with Ordinance Number

    Register returns ordinance number 71985. Effective date is 03/24/2025

Votes

02/07/2025 Vote Results

Aye Votes 13
No Votes 0
Final Passage Vote

View vote details

Ordinance

Ordinance Number: 71985

Effective Date: 03/24/2025

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