OSCEOLA — The Osceola City Council has scheduled a meeting to discuss issuing $1.5 billion of economic development bonds for the Big River Steel mill.
Mayor Dickie Kennemore said the council will meet May 5 to discuss issuing $1.5 billion in Act 9 bonds for the project. Kennemore told The Jonesboro Sun that the city would not be liable in any way for the bonds.
Under the proposal, the steel mill would be owned by the city of Osceola and leased back to Big River Steel for $1 a year.
The company hopes to break ground on the mill sometime in late June. On Friday, a state environmental commission is set to consider the air permit issued for the project.