Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Nebraska City council accepts $100,000 settlement from Waste Container Systems guarantors, directs pursuit of third owner
Summary
The council voted 4–0 to accept a $100,000 settlement from two guarantors of the Waste Container Systems Growth Fund loan and directed the City Attorney to pursue the third owner for the remaining balance; the minutes do not state the original loan amount or remaining balance.
At the Jan. 5 meeting, the Nebraska City Council unanimously approved accepting a $100,000 settlement from two guarantors of the Waste Container Systems, LLC Growth Fund loan and directed the City Attorney to pursue the third owner to collect the remaining balance. Commissioner Patrick Wehling moved the motion; Commissioner Joe Chaney seconded it. The roll call vote recorded all four present members voting yes.
The minutes list the settlement amount ($100,000) and the council's direction to pursue the third owner but do not specify the original loan total or the remaining balance the city expects to recover. The action was taken as a formal motion and recorded on the council's minutes; no public comment or debate is recorded in the minutes.
The minutes do not outline a timeline for legal pursuit or indicate whether the settlement funds have been received or how they will be applied in city accounts.
