Update:

At the Cozad City Council Meeting Monday evening Mayor Greg Tetley told the council that Tenneco has given local economic development entities the go-ahead for marketing the building that will be vacated as layoffs continue.

Tetley recapped the 09-10 Budget, reiterating that all city jobs are currently safe, and departments have been good about thinking of ways to save.

For instance, many of the city's vehicles will have their oil changed by city employees themselves. Tetley said that not all servicing will be done by them: vehicles like ambulances will still need a professional eye.

City Department Supervisors said they will be able to wait on needs like a new garbage truck and police car until the next budget. While not ideal, all said cutbacks were doable this year.

Council members reminded one another to "have faith" that something good will come out of this "bad thing."

The city is already working on recruiting a food based company to take over an old bakery building, and hope someone will have interst in Tenneco's plant building soon.

Keep checking GIEveryday.com for more on this story.

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Cozad officials are planning to market and sell the local Tenneco plant after its closes next year.

Mayor Greg Tetley says Tenneco has agreed to allow the city to find a new owner.

Tenneco announced last month that the production of shock absorbers and other ride-control gear will be moved from Cozad to plants in Hartwell, Ga.; Paragould, Ark.; and Celaya, Mexico.

Tenneco is the biggest employer in the south-central Nebraska city.

The closure is expected to eliminate about 500 jobs by the end of 2010.

City officials plan to meet Monday night to discuss ways to cut spending as it prepares for the job losses.

Tenneco is based in Lake Forest, Ill.