Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Haslet EDC approves consent agenda; board asks staff to clarify bond reserve treatment
Summary
The Haslet Economic Development Corporation approved routine minutes and July financial statements and discussed whether a $143,000 debt-service reserve is restricted cash or funded from bond proceeds; staff agreed to follow up.
The Haslet Economic Development Corporation voted to approve the consent agenda, including the April 23 regular meeting minutes, July 28 special meeting minutes and the July 2025 financial statements. A board member moved approval and the motion was seconded; the vote carried with all four members present voting yes. During discussion on the financials, a board member asked whether the debt-service reserve related to a prior bond issue was held as restricted cash or was funded from the bond proceeds. The board referenced a $143,000 debt-service reserve covenant tied to the original bond issue and the budget line for the bond reserve account. Staff said the board would be provided an answer. "We will get you an answer," a staff member told the board. The item passed as part of the consent agenda; no policy change was adopted at the meeting.
