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Palo council approves sewer revenue loan agreement after brief hearing
Summary
The council opened and closed a public hearing on a proposed Sewer Revenue Loan and Disbursement Agreement and approved Resolution 031626B authorizing the city to enter the loan agreement; the motion passed unanimously.
The Palo City Council voted to approve Resolution 031626B on March 16, 2026, authorizing additional action to enter a Sewer Revenue Loan and Disbursement Agreement.
Council opened a public hearing on the sewer revenue loan, took no extended public comment, and closed the hearing. Van Kerckhove moved to open the hearing; Stoltenberg seconded. The council approved the resolution 5-0.
The resolution authorizes city staff to proceed with entering the sewer revenue loan and disbursement agreement. The meeting transcript records the council’s approval but does not include details in the minutes about loan amount, lender, or repayment schedule; those details are expected to be in the resolution or loan documents.
Next steps: staff will complete the administrative steps required to finalize the loan agreement and report back as required by the lending terms.
Sources: Public hearing and Resolution 031626B recorded in the March 16 meeting transcript.
