NOTICE
NOTICE is hereby given that a public hearing will be held on the following ordinance, Tuesday, March 14, 2023 at 6:00 p.m., in the Council Chamber at Monroe City Hall:
The following Ordinance was introduced.
AN ORDINANCE AUTHORIZING MAYOR FRIDAY ELLIS TO ENTER INTO A PURCHASE OPTION AGREEMENT WITH SILICON RANCH CORPORATION FOR 306.3 ACRES OF PROPERTY LOCATED ON MILLHAVEN ROAD AND FURTHER PROVIDING WITH RESPECT THERETO
WHEREAS, the City of Monroe is the owner of certain real property located on Milhaven Road in Ouachita Parish, Louisiana, commonly referred to as Killoden Plantation, and more particularly described in the attached Purchase Option Agreement (“Agreement”); and
WHEREAS, Silicon Ranch Corporation (“Silicon Ranch”) is interested in developing, constructing, installing, and operating a solar electric generating system on the 306.3 acres of property owned by the City of Monroe for the production and distribution of electricity; and
WHEREAS, the City of Monroe desires to grant Silicon Ranch an option to purchase the property so that Silicon Ranch may negotiate a purchase power agreement (a “PPA”) for the electricity to be generated as outlined above and in the attached Agreement and secure financing to develop the project.
WHEREAS, an appraisal report was prepared by Robbie McBroom with Delta Appraisals, which is attached.
NOW, THEREFORE BE IT FURTHER ORDAINED by the City Council of the City of Monroe that Mayor Friday Ellis is hereby authorized to enter into the attached Purchase Option Agreement with Silicon Ranch Corporation as per the terms and conditions set forth in the Agreement and authorized to execute any necessary documents related to the Agreement.
BE IT FURTHER ORDAINED that under the provisions of Louisiana Revised Statute 33:4712 that prior to the final adoption hereof, notice of this Ordinance shall be published in the official journal three (3) times within fifteen (15) days, one week apart and that any opposition hereto must be made in writing, filed with the Clerk of the Council within fifteen (15) days of the first publication.
ORDINANCE INTRODUCED on the 14th day of February , 2023.
NOTICE PUBLISHED in the Monroe News-Star on February 17th, 24th and March 3rd, 2023.
Carolus S. Riley, CMC, MMC
Council Clerk