Agenda Item # 13.b.
City Commission Regular Meeting - 5:05 pm
- Meeting Date:
- 01/17/2023
- Re
- 23-R13 FPUA Line of Credit
- Submitted For:
- Linda Cox
SUBJECT:
Resolution 23-R13 approving borrowing by Fort Pierce Utilities Authority of up to $4,000,000.oo in the form of a taxable revolving line of credit from Seacoast National Bank.
SUMMARY:
Section 176(9) of the Charter of the City of Fort Pierce, Florida (the "Charter"), provides that the Authority may borrow for periods of not to exceed two (2) years with the approval of the City Commission of the City of Fort Pierce, Florida (the “City”); this line of credit requires the City's approval..
RECOMMENDATION:
Approve resolution.
ALTERNATIVES:
Do not approve.
RESPONSIBLE STAFF:
Javier Cisneros, Director of Utilities
Barbara MIka, Director of Financial Administration, FPUA
Barbara MIka, Director of Financial Administration, FPUA
COORDINATED WITH:
Linda W. Cox, City Clerk
Tanya Earley, City Attorney
Tanya Earley, City Attorney
Fiscal Impact
OTHER INFORMATION:
No fiscal impact to the city.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| City Manager | Nick Mimms | 01/06/2023 11:24 AM |
- Form Started By:
- Linda Cox
- Started On:
- 01/06/2023 10:03 AM
- Final Approval Date:
- 01/06/2023