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Council approves proceedings for up to $120,000 in general obligation notes
Summary
Walker City Council voted 5-0 on July 22 to begin proceedings for issuing up to $120,000 in general obligation capital loan notes, authorizing the city to take next steps though no interest rate or timeline was specified.
The Walker City Council on July 22 approved a resolution to begin proceedings for the issuance of not-to-exceed $120,000 in general obligation capital loan notes.
Councilmember Jonathan Wolff moved to approve Resolution 2024-22, titled “Resolution Instituting Proceedings to take additional action for the Issuance of not to exceed $120,000.00 General Obligation Capital Loan Notes.” Councilmember Abagail Wells seconded the motion. The council recorded a roll-call vote with all five members voting in favor (Kyle Glenn, Abagail Wells, Paul Nielsen, Jonathan Wolff and Rob Dunn); the motion carried.
The action authorizes the city to proceed with the procedural steps needed to issue the notes; the minutes do not specify interest rates, repayment terms or a schedule for sale. A public hearing on the proposed loan agreement was opened at 7:01 p.m. and closed at 7:02 p.m.; the clerk recorded no written or verbal comments and no members of the public spoke.
The council took the vote during new business and moved on to consider a separate contract item. No additional discussion or conditions were recorded in the minutes.
