Consent 1.M.
Regular City Council Meeting
- Meeting Date:
- 12/14/2009
- TITLE
- Bond Resolution of terms for Intercap Loan for SID 1387
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
On October 13, 2009, the City Council approved authorization to apply for an Intercap loan to finance Special Improvement District 1387 totaling $80,500. The loan application was reviewed by the Intercap Loan board and approved. The attached resolution accepts the terms and conditions of the loan.
ALTERNATIVES ANALYZED
The Council may:
- Approve the terms of the Intercap loan bond resolution
- Not approve the terms of the Intercap loan bond resolution
FINANCIAL IMPACT
N/A
RECOMMENDATION
It is recommended that the City Council approve the attached resolution.