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Council approves resolution to prepay and defease portion of special public-works loan
Summary
Council adopted Resolution No. 2025‑04 authorizing prepayment and defeasance of a special public‑works fund loan tied to infrastructure near Oak Street; staff said prepayment would save about $35,000 in interest over four years and remove a recurring general‑fund obligation.
The City Council adopted Resolution No. 2025‑04 authorizing the city to prepay and defease all or a portion of an outstanding special public‑works fund loan tied to infrastructure extending off Oak Street near the airport.
Finance Director Brandon Neesh explained the proposal was developed as part of general‑fund sustainability planning. Neesh…
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