City issues $5.2 million bonds to acquire, refurbish industrial facility

The Conway City Council approved issuing $5.2 million in bonds to help acquire and refurbish an industrial facility during a special called meeting Monday.

 

Conway Area Chamber of Commerce President and CEO Brad Lacey thanked aldermen for passing the resolution during a last-minute meeting.

“We appreciate you guys coming together so quickly,” he said just before the vote. “It came to our attention on Friday that in order to do industrial revenue bonds to line up with the timing of the purchase of this facility, this was our day to do this.”

Lacey said he couldn’t reveal any information about the company until either late Tuesday or early Wednesday.

“We are unable to really talk about who the company is today because of some of their financing agreements they’re working on right now, but suffice it to say we are very excited about welcoming them to Conway,” he said. “We’ve been working with them for over a year, and we believe strongly in their ability to grow here.”

The council approved issuing the bonds 6-0 with Aldermen Mary Smith and Shelley Mehl absent.

Mayor Bart Castleberry commended Lacey and Chamber Executive Vice President Jamie Gates for bringing the timing problem to the council’s attention.

“I’d like to thank the Chamber — Brad and Jamie — for helping us get on this quickly,” he said.

The resolution was the only agenda item discussed during the brief afternoon meeting.

The Log Cabin Democrat will report on details about the company when they become available.

 

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