OPENPUBLICA · PUBLIC MEETING RECORD
Record of Proceedings

Jonesboro Finance & Administration Council Committee Meeting - April 28, 2026

Meeting Portal — Tuesday, April 28, 2026
BodyJonesboro, Arkansas
SessionMeeting Portal
DateTuesday, April 28, 2026
StatusFILED
Video Record
0:00 / 13:16

Transcript — Verbatim
0:00

Hey, good good afternoon, everybody.

0:01

It's four o'clock.

0:03

Great.

0:03

Somebody says something in your own.

0:05

Good afternoon.

0:05

It's four o'clock.

0:06

We'll get today's meeting going.

0:07

Good to see you, buddy.

0:08

Yeah.

0:09

Listen.

0:11

Following today's um, please go ahead and record your attendance by pushing the appropriate button.

0:19

Sorry to interrupt the party.

0:25

All right, we do have a quorum.

0:27

Um next step is approval of minutes from the Tuesday, April 14th, 2026 meeting.

0:32

Approved unless there's a noted change.

0:34

Second.

0:35

I motion second.

0:36

Any comments or questions on if not, please record your vote on whether or not to approve.

0:46

First item under new business is a municipal lien.

0:49

So I'll just read it by title only.

0:50

It's resolution 26047.

0:53

Resolution by the City Council City of Jonesburg, Arkansas, to place the municipal lien on property located at 1603 South Matthews, Parcel 01-144-214-06900, owned by Trevor Anderson in the amount of 465 dollars.

1:09

Move forward to full council.

1:10

Second.

1:12

Any questions or comments on the committee?

1:14

Anything from staff or the public in attendance.

1:18

Y'all care about this municipal lien?

1:20

No.

1:21

Okay.

1:22

Um if there's no questions or comments, please record your vote on whether or not to forward it to full council.

1:42

It got floated to you.

1:43

Maybe probably hitting your buttons again.

1:54

Not working.

1:55

We're gonna have to voice vote.

1:56

Voice vote.

1:57

All right.

1:57

All those in favor of forwarding resolution um 26047 to full council, please say aye.

2:04

Aye.

2:05

Any opposed?

2:06

All right.

2:07

Wow, just like the good old days.

2:10

All right, next up is resolution 26048.

2:13

Um, I will go ahead and read it in its entirety.

2:16

So please bear with me.

2:18

Um, a resolution authorizing the entry into an agreement to issue bonds for the purpose of assisting in the financing of industrial facilities with within the city of Jonesville, Arkansas to be leased to Nishurae.

2:31

How do you sorry?

2:36

Nitchare Global Foods LLC, a wholly owned subsidiary of Innovation Cuisine Enterprises Incorporated or their affiliate pursuant to the authority of the laws of the state of Arkansas, including particularly amendment 65 to the Arkansas Constitution and the municipalities and counties industrial development revenue bond law.

2:59

Whereas the City of Jonesford, Arkansas is authorized under the provisions of Amendment 65 to the Arkansas Constitution and the municipalities and counties industrial development revenue bond law, Arkansas Code annotated 14-164-201 to own, acquire, construct, equip, and lease facilities to secure and develop industry and to assist in the financing thereof by the issuance of bonds payable from the revenues derived from such facilities.

3:27

And whereas Nisara Global Foods LLC, a wholly owned subsidiary of innovative in in a innovation.

3:38

Um I'm not stroking out, I promise.

3:41

Umis enterprises incorporated or their affiliate collectively by the company as evidence and is as evidence its interest in acquiring constructing an equipment and industrial facility within the city if permanent financing can be provided through the issuance of bonds under the authority of the act, and whereas the city desires to assist the company in order to secure and develop industry within the city and to aid in the financing thereof under the provisions of the act, and whereas it is desirable that the city enter into an agreement to issue bonds for the for such purpose.

4:17

Now therefore be it resolved by the city council of the city of Jonesville, Arkansas that section one, the mayor and city clerk are hereby authorized to enter into an agreement to issue bonds and substantially the form and substance attached as exhibit A.

4:31

Section two, subject to compliance with the statutory notice requirements of payment in lieu of taxes agreement shall be considered for approval at the meeting of the city council at which the or ordinance authorizing the issuance of the bonds is considered for approval.

4:47

Section three of the city shall hold a public hearing on the question of the issuance of the bonds on May 19, 2026.

4:54

The city clerk and bond council shall coordinate the publication of the notice of public hearing.

5:00

Section 4, severability in the event any title section, paragraph, item, sentence, clause, phrase, or word of this resolution is declared or judged to be invalid or unconstitutional.

5:10

Such declaration or adjudication shall not affect the remaining portions of this resolution, which shall remain in full force and uh and effect as if the portion so declared or a judge invalid or unconstitutional was not originally a part of this resolution.

5:26

Section five repealer uh ordinance is or resolutions of the city in conflict here with or hereby repeal to the extent of such conflict.

5:34

Moving forward to full counsel.

5:36

Second.

Discussion Breakdown — Share of Meeting
Economic Development█████████████████████████████████████████████68%
Procedural███████████████████28%
Miscellaneous███4%
Summary of Proceedings

Jonesboro Finance & Administration Council Committee Meeting - April 28, 2026

The Finance & Administration Council Committee of the City of Jonesboro, Arkansas, met on Tuesday, April 28, 2026, at 4:00 PM at the Municipal Center. The meeting, chaired by Joe Hafner, addressed two resolutions and provided updates on pending items. Councilmembers present: Joe Hafner, John Street, David McClain, Ann Williams, Charles Coleman, and Brian Emison. Anthony Coleman was absent.

Discussion Items

  • RES-26:047 – Municipal Lien on Property at 1603 S. Matthews: A resolution to place a municipal lien of $465 on property owned by Trevor Anderson for code enforcement violations. The committee unanimously voted to recommend the resolution to the full City Council. (Motion by John Street, seconded by Brian Emison; vote: 5 ayes, 1 absent)
  • RES-26:048 – Industrial Development Revenue Bonds for InnovAsian Cuisine / Nichirei Global Foods: A resolution authorizing an agreement to issue bonds to assist in financing a $180,000,000 industrial facility in Jonesboro. Attorney Michele Allgood of Mitchell Williams Law Firm explained that the city would serve as a conduit issuer for a sale‑leaseback transaction, with the company lending itself the money. The bonds do not create a financial obligation for the city; the sole security is the facility and rents. The tax abatement is 65% over 30 years. Joe Kent, President and CEO of Innovasian Cuisine, described the project: a 175,000‑square‑foot facility in Craighead Industrial Park producing chicken and rice products, expected to break ground in late August 2026 and become fully functional by early 2028. The facility will create approximately 200 new jobs, with an average wage of about $22 per hour. The committee voted unanimously to recommend the resolution to the full City Council. (Motion by John Street, seconded by Brian Emison; vote: 5 ayes, 1 absent)
  • Pending Items – Updates: Chairman Hafner reported that the Depository Committee met the previous Friday to begin the process of bidding bank accounts, with notices expected to be published within two to three weeks. Discussion on the performance of tournaments and the shooting range was deferred to the next Finance Committee meeting at the request of Chairman Hafner, who stated he preferred Parks Director Jim Stearns to present fully prepared information rather than “wing it.”

Public Comments & Testimony

No public comments were made.

Key Outcomes

  • RES-26:047 (Municipal Lien) recommended to City Council by a 5‑0 vote (1 absent).
  • RES-26:048 (InnovAsian Bonds) recommended to City Council by a 5‑0 vote (1 absent).
  • The public hearing for the bond issuance is scheduled for May 19, 2026.
  • Bank account bidding process is underway, with publication expected within two to three weeks.
  • Parks Director Jim Stearns will present information on tournament performance and the shooting range at the next Finance Committee meeting.
  • Meeting adjourned at approximately 4:15 PM.

Meeting Transcript

Hey, good good afternoon, everybody. It's four o'clock. Great. Somebody says something in your own. Good afternoon. It's four o'clock. We'll get today's meeting going. Good to see you, buddy. Yeah. Listen. Following today's um, please go ahead and record your attendance by pushing the appropriate button. Sorry to interrupt the party. All right, we do have a quorum. Um next step is approval of minutes from the Tuesday, April 14th, 2026 meeting. Approved unless there's a noted change. Second. I motion second. Any comments or questions on if not, please record your vote on whether or not to approve. First item under new business is a municipal lien. So I'll just read it by title only. It's resolution 26047. Resolution by the City Council City of Jonesburg, Arkansas, to place the municipal lien on property located at 1603 South Matthews, Parcel 01-144-214-06900, owned by Trevor Anderson in the amount of 465 dollars. Move forward to full council. Second. Any questions or comments on the committee? Anything from staff or the public in attendance. Y'all care about this municipal lien? No. Okay. Um if there's no questions or comments, please record your vote on whether or not to forward it to full council. It got floated to you. Maybe probably hitting your buttons again. Not working. We're gonna have to voice vote. Voice vote. All right. All those in favor of forwarding resolution um 26047 to full council, please say aye. Aye. Any opposed? All right. Wow, just like the good old days. All right, next up is resolution 26048. Um, I will go ahead and read it in its entirety. So please bear with me. Um, a resolution authorizing the entry into an agreement to issue bonds for the purpose of assisting in the financing of industrial facilities with within the city of Jonesville, Arkansas to be leased to Nishurae. How do you sorry? Nitchare Global Foods LLC, a wholly owned subsidiary of Innovation Cuisine Enterprises Incorporated or their affiliate pursuant to the authority of the laws of the state of Arkansas, including particularly amendment 65 to the Arkansas Constitution and the municipalities and counties industrial development revenue bond law. Whereas the City of Jonesford, Arkansas is authorized under the provisions of Amendment 65 to the Arkansas Constitution and the municipalities and counties industrial development revenue bond law, Arkansas Code annotated 14-164-201 to own, acquire, construct, equip, and lease facilities to secure and develop industry and to assist in the financing thereof by the issuance of bonds payable from the revenues derived from such facilities. And whereas Nisara Global Foods LLC, a wholly owned subsidiary of innovative in in a innovation. Um I'm not stroking out, I promise.

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