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EDC considers reimbursement to city for bond principal payments linked to water and flood projects
Summary
Board moved to approve reimbursement for half of principal bond payments to the City of Bandera, discussed which loans the payments cover (clean water and flood-related projects), and sought documentation from council and resolutions.
The EDC considered approving reimbursement to the City of Bandera for half of principal bond payments on two loans that support clean-water and flood-infrastructure projects.
A motion was made to reimburse the city roughly $42,549 and $49,05 (transcript formatting inconsistent). Board members asked for the exact loan descriptions and the underlying resolutions; a council member in attendance said the proceeds covered clean-water and flood projects. The board asked staff to obtain copies of the resolutions and to report back with firm documentation before finalizing any disbursement details.
Members indicated this has been an ongoing arrangement in prior years, with the EDC historically contributing half of the principal on certain loans. The item was discussed and a motion introduced; clerical follow-up was requested to confirm the precise amounts and loan identifiers.
