Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Civic Center Financing topic
No spam. Unsubscribe anytime.
Maupin council authorizes 20-year refinance option to secure Civic Center debt
Summary
The Maupin City Council authorized officials to finalize a 20-year refinancing option with Government Capital Corporation to permanently finance the Civic Center long-term debt; the motion passed unanimously, 6–0.
The Maupin City Council on Sept. 23 authorized city officials to finalize a 20-year refinance option to permanently finance long-term debt associated with the Maupin Civic Center. Councilor Mike Foreaker moved the authorization and Councilor Carol Beatty seconded; the motion passed unanimously, 6–0 (Ayes: Foreaker, Helquist, Beatty, Wright, Ewing, Troutman).
City Manager Kevin Lewis and Recorder Christine Kurtz were authorized, along with Mayor Lynn Ewing, to complete the refinancing paperwork with Government Capital Corporation. The resolution as described in the meeting (Resolution 09232020) directs those officials to finalize the offered financing terms; the minutes record the Council’s unanimous approval but do not specify the principal, interest rate, or annual debt-service schedule.
The authorization is intended to secure long-term funding for the Civic Center; the Council recorded the vote and formal motion on the record and took no separate votes on related spending changes at that meeting. The Council's formal action clears administrative steps for staff to complete the transaction.
