Council, LEDC accepts $1.4 million bond bids

Two city boards Monday approved the issuance and sale of $1.4 million in sales tax revenue bonds to pay for improvements in Levelland Industrial Rail Park.

The Levelland Economic Development Corporation and the Levelland City Council took the action jointly during a 25-minute meeting.

In May, the LEDC board agreed to seek a line of credit from the city and spend up to $1.6 million to develop the north side of the rail park.

Erik Rejino, interim director of the LEDC, told council members  Monday that the improvements included the following:

* Installing 1,700 feet of additional rail track and a cross over.

* Extending a wastewater line.

* Providing a Progressive Place loop street extension.

Central to the project is a California company that will open operations this year in the park.

The LEDC and Penny Newman Grains Inc. reached an agreement this spring in which the company committed to spending at least $5 million to build a plant on 14.5 acres of land on the north side of the rail park.

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