Authorize short-term borrowing to cover city expenses until tax revenue arrives
Resolution 116-09
In Plain English
The city collects most property taxes in December and April, but pays expenses year-round. This borrowing covers the gap between spending and tax collection. The city participates in a state program that offers lower interest rates than private loans.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
7 to 0
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