The Fort Smith Board of Directors approved an ordinance Tuesday (Nov. 19) authorizing the issuance of taxable industrial development bonds for Gerber Products in the amount of $150 million.
According to Deputy City Administrator Jeff Dingman, the bonds will be re-paid in full by Gerber with no liability to the city. Dingman said the bond issuance will result in jobs at the north Fort Smith manufacturer.
"This bond ordinance represents assisting Gerber invest up to $150 million in their plant expansion resulting in 90 additional jobs through increased production at their plant," he said.
Vice Mayor Kevin Settle was quick to praise Gerber's growth in the Fort Smith area.
"Thank you to Gerber for your great investment into the city," he said. "And I'm glad you're doing this."
Mayor Sandy Sanders echoed Settle's comments, pointing to the confidence shown by the investment Gerber is making in its well established Fort Smith facility.
In other business, the Board:
• Approved an ordinance certifying to the Sebastian County Tax Collector delinquent property cleanup liens;
• Approved an ordinance establishing June 30 as the annual cutoff date for consideration of appeal for delinquent property cleanup liens;
• Approved an ordinance establishing dates, time and location for regular meetings of the Board of Directors for the year 2014;
• Approved a resolution authorizing partial payment to Archer Western Construction for the construction of the Zero Street Pump Station;
• Appointed April Byrd to the Fort Smith Municipal Employees Benevolent Fund Board of Advisors; and
• Re-appointed Pam Weiler, Joseph Irwin and Joel Scott Stubblefield to the Oak Cemetery Commission.