Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Parks Finance topic
No spam. Unsubscribe anytime.
Board approves request for $300,000 one-year loan to fund Pinhook Park improvements
Summary
Trustee Thompson moved and the board approved a request for a $300,000, one-year loan from the State Bank of Industry to pay for Pinhook Park improvements; Treasurer Black recommended a one-year term and the board plans to repay with grant funds.
Trustee Thompson proposed that the village request a $300,000 interim loan from the State Bank of Industry for Pinhook Park improvements; Trustee Stuckwisch seconded the motion and the board voted to approve the loan request. Treasurer Black recommended a one-year term to align the loan with expected grant reimbursement.
The meeting record shows the loan is intended to be temporary and payable with grant funds; the board scheduled a possible special meeting on April 7 to approve these minutes depending on Trustee Murray's availability. The motion carried per roll call vote recorded in the minutes.
