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Standish council approves $1.4 million loan resolution to fund water project
Summary
At its Nov. 11 meeting, the Standish City Council approved Resolution 24-09 authorizing up to $1.4 million in bonded indebtedness for a water project; the minutes state that amount would be repaid if a grant to reimburse the bond is not received.
Standish — The Standish City Council on Nov. 11 approved Resolution 24-09 authorizing the incurrence of indebtedness of $1.4 million to provide a portion of the cost of acquiring, constructing, enlarging, improving and/or extending city water facilities.
The council approved the resolution by a roll-call vote after a motion by Councilmember Link, supported by Councilmember Fleszar. The minutes record YEAS from Fleszar, Link, Spencer, Lincoln, Myers and Mayor Kevin King; NAYS: none; one council seat remained unfilled and marked absent.
Council materials recorded in the minutes say the $1.4 million figure represents the amount that would need to be repaid if the city does not receive an anticipated grant to reimburse the bond. No additional timeline for issuance or project implementation was recorded in the minutes.
The motion carried during the Nov. 11 meeting. The council did not record an extended debate in the minutes; the action appears under the meeting's New Business section.
