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Ashland council renews city line of credit for fiscal 2025–26 operations
Summary
The City of Ashland adopted an ordinance authorizing city leaders to renew a line of credit to borrow for operational expenses for the July 1, 2025–June 30, 2026 fiscal year; staff said the bank and amount remain the same and the interest rate is about 0.5 percentage point higher than last year, tied to prime.
At a recessed June 27 meeting, the City of Ashland adopted a second-reading ordinance authorizing the mayor and city officials to renew a line of credit to borrow funds for operational expenses for the period July 1, 2025, through June 30, 2026.
The ordinance authorizes the mayor and Tony Grubb, city manager, or Michelle Veach, assistant chief financial officer, to renew the…
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