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Council approves Resolution 101425-1 to establish one construction fund
Summary
The Lindsay City Council unanimously approved Resolution 101425-1 to establish a One Construction Fund; Quynh‑Thi Nguyen of Hilltop Securities explained fund transfers and noted a refinance option available in 2035.
The Lindsay City Council voted 4–0 Oct. 14 to adopt Resolution 101425-1, authorizing the establishment of a One Construction Fund with the designated depository bank. Quynh‑Thi Nguyen of Hilltop Securities presented the resolution, described the related ordinance and escrow agreement, and explained how and when funds will be transferred.
"Ms. Nguyen informed the council of a refinance option that will be available in 2035," the record states. The motion to approve the resolution was moved by Klay Gilbert, seconded by Robert Sharp and carried unanimously. The council did not vote on a refinancing plan at the meeting; Ms. Nguyen presented the future option as informational.
