Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Council amends bond authorization to include grants, raises clubhouse project cost to $2.473 million
Summary
The Common Council amended a May 7 bond resolution to increase the estimated maximum cost of the city golf course clubhouse project to $2,473,000 and raise authorized bonding to $1,850,000 while incorporating $850,000 in expected state grants; the council described the borrowing as callable to be repaid when grant funds arrive.
The Amsterdam Common Council on May 20 amended a prior bond resolution dated May 7, 2024, to raise the estimated maximum cost of constructing a clubhouse and other golf‑course improvements from $1,000,000 to $2,473,000 and to increase authorized borrowing to $1,850,000.
Council members said roughly $850,000 of the additional cost will be covered by anticipated reimbursable state grants from local legislators. City staff described the borrowing as a callable bond that will be repaid when grant reimbursements arrive.
The resolution amends the plan of finance to include expected grants and available city funds. The council approved the amendment on a roll call vote.
