By Linda Trest, Staff Writer
A special meeting of the Gerald Board of Aldermen held Thursday, Aug. 27, ended with a surprise twist.
After a 17 minute executive session, the board returned to open meeting to pass an ordinance. The bill authorized Mayor Hillary Ward to sign a settlement agreement with Bull Moose Tube Co.(BMT).
The city and BMT have been embroiled in a lawsuit since Feb. 2018 concerning property the city leases to the tubing manufacturer.
The bill also authorizes the mayor to sign other related documents, including selling the building and land occupied by BMT, but owned by the city.
A bill of sale attached to the ordinance lists a sales price of $225,000.
Both parties were expected to finalize the deal in a court appearance today, Aug. 28.
The city touts this move as an effort to keep the plant and its employees located in the city.
“Bull Moose is an important employer and vital member of our community,” wrote David A. Struebel, city attorney in a prepared press release. “We are looking forward to many more years of a successful relationship with the company.”
More details on this breaking story will be available in the next issue of The Republican.
