Approve $200,000 loan to new Police Chief Magnus for housing
In Plain English
The city's newly hired Police Chief Christopher Magnus needs financial help to buy a house in Richmond while selling his current home in Fargo. The city offers a $50,000 bridge loan for the Richmond purchase plus $150,000 secured by his Fargo property. If approved, the city becomes Magnus's lender until he completes both transactions.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 169-05
7 to 0
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