Trenton City Council approves up to $75 million in bonds for use by Nestle

City of Trenton Website

The Trenton City Council last night voted to issue taxable industrial development revenue bonds for use by Nestles once it officially acquires the ConAgra plant in Trenton.

Up to a maximum of $75,000,000 will be made available for acquiring and to make improvements to real property and for acquiring and installing new and existing equipment. Mayor Nick McHargue called it a well-negotiated deal for Trenton with assurances from Nestles that the company will maintain a certain level of employees and make a significant investment in the community.

The eight members of the city council unanimously voted to pass a resolution of “official intent for issuing the industrial development revenue bonds.

Other action taken by the Trenton City Council included approval of an agreement with Larkin, Lamp, and Rynearson Inc. for engineering services on a project this year to rehabilitate the Normal Street sewer lines. The cost for the planning document is $13,000. Affected is the portion of Normal between 9th Street and 13th Court. That section is scheduled by the city for street resurfacing work in 2019.

The council approved a request from Missouri Department of Transportation to be on record as willing to close the railroad crossing on Mable Street once the new 17th Street bridge is constructed and in use. The Mable Street railroad crossing to be closed is just a block north of 17th street. The council voted seven to one to authorize the closing. Glen Briggs was opposed.

City Administrator Ron Urton Junior reported a public meeting is expected next month regarding the right of way acquisition for the new 17th street bridge. Adjacent property owners are to be notified by the city.

Mayor Nick McHargue, in past council meetings, has voiced his concerns on the amount of Trenton township tax revenue that gets used with the city limits. He quoted figures showing Trenton township assessed valuation is $70,555,000 and the city of Trenton assessed valuation is $58,000,677. That’s 83% of assessed valuation generated within the city limits. Doctor McHargue stated Trenton Township collects $177,000 in taxes. Using the 83% figure, that’s $147,000, but by state statutes, the mayor said townships can only return 20 percent of the tax revenue to the city. That would amount to roughly $30,000. The city has reported Trenton township has given it $16,000.

Street Supervisor Martin Shieb thanked Trenton Township for recently hauling 750 tons of sand. And he reported the asphalt plant passed a state inspection.

The discussion was again tabled on the Missouri Department of Transportation maintenance proposal for Highway 6 through Trenton. It was noted the topic will be listed for an April 9th meeting when MoDOT Engineer Austin Hibler can be present to meet with the council. The council also met in closed executive session last night.

The open portion of the Trenton City Council meeting was attended by several boy scouts earning a merit badge. They were led by Dean Sager of Troop 99 and Adam McAtee for Troop 97.