The Parsons City Commission approves the issuance of $4 million in industrial revenue bonds.

 

 The move came at this week’s commission meeting. The bonds were issued in conjunction with the granting of an ad valorem tax abatement for the Katy Golf Club. The bonds will serve as a pass-through for a major project to improve the golfing facilities and restaurant at the club. City Bond Counsel Andrew Kovar of the firm Spencer Fane says none of the financial obligations associated with the project will fall on Parsons taxpayers. 

 

 In addition to the bonds, the tax abatement would grant a sales tax exemption on construction materials and a 10-year property tax exemption on property built with the bonds. A return-on-investment study on the projected economic benefits of the project showed a plus seven R-O-I. City Manager Jeff Cantrell says not only will the project bring tourism dollars into the Parsons community, it will also create features everyone can enjoy.

 

 Commissioners approved the resolution on a unanimous vote.

 

 In other business, the commission reorganized for the new year, selecting Kevin Cruse as Mayor and Tom Shaw as President of the Board of Commissioners.