The Washington City Council approved an ordinance Monday awarding a farm lease to the Missouri Meerschaum Company.

The corn cob pipe company will lease 50.3 acres of farmland adjacent to the Washington Regional Airport at the cost of $262.50 per acre.

The lease will be in effect from Nov. 1, through Oct. 31, 2024.

The city received two bids to lease the property. The other bid was from Ley Farms Inc. at the price of $125 per acre.

The council voted 7-0 to approve the agreement. Councilman Mark Wessels was not at the meeting.