Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Financing topic
No spam. Unsubscribe anytime.
County approves Resolution 2024-14, signs intercap loan paperwork
Summary
Commissioners approved Resolution 2024-14 and signed documents to proceed with an intercap loan through the Board of Investments; the Chair read loan terms aloud including a base rate and a stated cap for the adjusted variable rate.
The board considered Resolution 2024-14 and a related intercap loan agreement and voted to proceed.
The Chair recited loan parameters during the discussion, noting a 5.75% per annum base and up to 1.5% additional per annum for program expenses, and stated that "the adjusted variable rate shall not exceed 9.15." Commissioners moved and seconded to proceed with the Board of Investments intercap loan; the board approved the motion by voice vote, the paperwork was signed and the Clerk attested to the signatures.
The meeting record shows the resolution approved and paperwork executed at the meeting. The chair also mentioned a drawdown request (an amount referenced orally in the meeting), and staff were instructed to process required attestations and documentation.
