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Lindsay council unrestricts settlement funds, directs spending plan return to council
Summary
The Lindsay City Council voted to rescind use restrictions on settlement funds previously set aside for a specific well project and to place the money in an interest-bearing county account while staff prepares a spending plan to return to council for approval.
The Lindsay City Council on May 27 voted to rescind restrictions on a set-aside settlement account and place the funds into a county-held interest-bearing account while staff develops a formal spending plan for council review.
Councilmember Soria moved to rescind the restriction (Resolution 25-15) and the motion carried after brief discussion; council members voted in the affirmative. City staff said the change is intended to provide flexibility for budgeting while preserving the council’s ability to approve any expenditures.
Nut graf: The council’s action makes funds that had been reserved for a water-system settlement…
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