Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
McKinney Council approves short-term interfund loan to help MEDC close land purchase
Summary
The City Council approved a one-month interfund loan from the general fund to the McKinney Economic Development Corporation (MEDC) to bridge timing between a land purchase closing March 31 and anticipated bond proceeds in late April.
The McKinney City Council approved a one-month interfund loan from the city general fund to the McKinney Economic Development Corporation to cover a land purchase closing March 31, city finance staff said.
Chief Financial Officer Mark Holloway told the council the MEDC and council approved a debt sale on March 18 and pricing is scheduled for April 9 with bond closing expected April 30, leaving roughly a one-month gap between the land…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
