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Council clears $5.5 million capital loan note authorization tied to CIP and TIF projects
Summary
Finance director Nikki Lam presented procedural steps for issuing general obligation capital loan notes not to exceed $5.5 million to fund capital projects; the council approved resolutions authorizing issuance and pre-levy steps that include TIF project listings for Westover, Doona and Northwest Market Center.
The council approved a package of resolutions allowing the city to issue general obligation capital loan notes and complete procedural requirements connected to the capital improvement program.
Finance director Nikki Lam explained the package covers: (1) a not-to-exceed $5.5 million general obligation capital loan note issuance for…
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