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Council authorizes mayor and finance officer to obtain payoff quote and sign documents to retire USDA note
Summary
The council authorized the mayor and finance officer to obtain a payoff quote and sign documents to retire a USDA note taken in 2017; members approved the motion by roll call to facilitate closing out the note.
The council moved and approved a motion authorizing the mayor and the finance officer to obtain a payoff quote and sign the necessary paperwork to retire a USDA note taken out in 2017. Clerk/Staff (S3) explained this action is to update records and position the city to retire the debt as soon as practicable.
"We appropriate it for this, and get that retired as soon as we can," Clerk/Staff (S3) said, describing the intent to pay off the note and to record the payoff for auditors and records. The council approved the motion by roll call; staff will obtain the payoff figure and return documentation as required for auditing and recordkeeping.
