Receive report on $2.5 million short-term borrowing from 2014
In Plain English
The city borrowed money in 2014 to cover expenses before property tax payments arrived later in the fiscal year. Tax and Revenue Anticipation Notes let cities borrow against expected tax income to maintain cash flow. City policy requires council to receive a report on how these borrowing deals performed financially.
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Votes
Approve consent calendar
6 to 0
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5 related items found by meaning
Receive report on results of 2013/14 tax anticipation notes sale
Authorize borrowing up to $15 million through tax anticipation notes
Authorize borrowing up to $35 million through short-term notes
Authorize borrowing money through short-term notes until tax revenue arrives
Authorize short-term borrowing to cover city expenses before tax revenue arrives
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