AI- 27259
12.A.
CC REGULAR
- Meeting Date:
- 06/28/2011
- Submitted For:
- Frank Martinez
- Submitted By:
- Estella Webber, URBAN COUNTY
- Department:
- URBAN COUNTY
Information
CAPTION
The Urban County Program is requesting the County’s approval to renew an existing $500,000 Line of Credit with First National Bank of Edinburg for the Colonia Construction Grant, and payment of an origination fee of 1% which amounts to $5,000.
BACKGROUND
The purpose of the Line of Credit is to help finance the cost of construction and general administration expenses prior to reimbursement from the Texas Department of Housing and Community Affairs and/or Texas Department of Rural Affairs. The County will have to pay the 1% from their general fund.
Fiscal Impact
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Budget and Management | mmunoz | 06/23/2011 01:30 PM |
| Auditor's Office | 06/24/2011 02:42 PM |
- Form Started By:
- ewebber
- Started On:
- 06/23/2011 11:28 AM
- Final Approval Date:
- 06/24/2011