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Council sets public hearing and authorizes process for up to $1.45 million loan for street project
Summary
The council approved Resolution 100-425 to set a date for a public hearing and to begin the process to enter a general-obligation loan agreement not to exceed $1,450,000 for the Third Avenue SW and Hayes Street SW reconstruction project.
On Oct. 27 the Cascade City Council approved Resolution 100-425 to set the date for a public hearing and to begin steps toward entering a general-obligation loan agreement in a principal amount not to exceed $1,450,000 for a street reconstruction project.
Councilmembers described the vote as a procedural action to enable borrowing for the Third Avenue Southwest and Hayes Street Southwest reconstruction project. Oliphant made the motion; the motion passed on roll call with all councilmembers present voting "Aye." The resolution establishes the procedural steps required under state law for issuing general-obligation debt and schedules public-notice and hearing requirements prior to final authorization.
The council will publish hearing notices and return to consider final approval following the public hearing and any comments received.
