Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Administration topic
No spam. Unsubscribe anytime.
Baker County renews FPL line of credit; board leaves it in place
Summary
County staff renewed a standing $35,000 line of credit naming Florida Power & Light (FPL) as beneficiary; the board was told the line costs nothing to maintain, covers only FPL payments and can be canceled anytime.
A board member said she renewed a longstanding line of credit with First Federal that names Florida Power & Light (FPL) as the beneficiary and discussed whether the county should keep it.
The line of credit amounts to $35,000 and was originally associated with utility-account requirements when the county previously operated under a different organizational name. The board heard the line does not carry an annual fee and is restricted such that draws would pay only FPL; it cannot be used for other bills such as attorney fees. The board member who researched the file said the sheriff’s office now handles most utility payments and that the county can cancel the line at any time if it is no longer needed.
Board members expressed no objection to keeping the line in place for now. No formal vote was recorded; staff indicated they will leave the renewal in place and can cancel it later if circumstances change.
