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Lake City council adopts loan and closing resolutions to acquire wastewater plant at North Florida Mega Industrial Park
Summary
The Lake City Council on May 26 unanimously adopted a package of resolutions authorizing a $5.5 million loan, easement and closing documents to acquire the wastewater treatment plant at the North Florida Mega Industrial Park and directed staff to complete closing actions.
The Lake City Council unanimously approved a series of resolutions on May 26 that clear the way for the city to acquire the wastewater treatment plant at the North Florida Mega Industrial Park in Columbia County.
City Attorney Martin read resolution 2026-057, which authorizes loan documents with the Florida Department of Commerce under the Rural Community Development Revolving Loan Fund (section 288.065, Florida Statutes) for a principal amount of $5,500,000 to finance the acquisition. "The principal amount of $5,500,000 for cost for the acquisition of the wastewater treatment plant at the North Florida Mega Industrial Park in Columbia County," Martin said when reading the measure by title.
The council also approved resolution 2026-063, which authorizes easement, assignment and deed agreements among the City of Lake City, the Columbia County Board of County Commissioners, and Weyerhaeuser Company to facilitate the closing. A third related measure, resolution 2026-067, authorizes the execution of the closing statement, officer certificates and closing agreements and directs the city manager to take actions necessary to effect the authorized expenditures.
Each resolution was moved, seconded and adopted by roll call with all members voting in favor. Miss Sykes conducted the roll calls; the minutes record unanimous approval on the listed items.
City Attorney Martin clarified a documentation detail for council members, noting that the promissory-note exhibit reference "is intentionally blank" and will be filled in after execution when exhibit designations are assigned.
The measures collectively permit the city to proceed with closing and use net utility revenues as pledged sources for loan repayment, subject to the loan documents and associated covenants. No public comment was recorded on the items; the council proceeded directly to the votes.
Next steps: staff and authorized officials will execute the closing documents and take the steps directed by resolution 2026-067 so the acquisition can close under the terms authorized by the council.
