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Committee recommends prepaying promissory note for Hart Road property after missing comptroller approval
Summary
Staff told the committee the city did not secure comptroller approval when it increased indebtedness for last year’s Hart Road purchase; the committee voted 3–0 to recommend a resolution to prepay the promissory note using available fund balance to avoid a self-report to the comptroller.
The Budget and Finance Committee on March 3 favorably recommended resolution 25‑69, authorizing prepayment of a promissory note tied to last year’s Hart Road property purchase.
Ms. Holdren explained that when the city bought the Hart Road property the previous year, the promissory note had increased…
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