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Council authorizes revolving line of credit for water/sewer projects and approves budget adjustments
Summary
Council approved a three‑year taxable revolving line of credit to interim‑finance utility capital (RORO expansion) and approved supplemental budget appropriations for multiple funds, while staff said draws will be reimbursed by grants and SRF funding where possible.
The Punta Gorda City Council approved a three‑year taxable revolving line of credit and a set of budget amendments at its April 22 meeting to keep utility capital projects moving while longer‑term funding is finalized.
Finance Director Kristen Simeone told the council the Regions Commercial Equipment Finance LLC line of credit will provide interim financing for capital improvements to the city’s water and sewer system, including the Reverse Osmosis…
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