May 26, 2020Asheville City Council
From the minutes, not yet reviewedWhat it does
Approves the 2020 General Obligation Bond Draw Program.
- Passed with the routine items, in one vote, without discussion.
- What the minutes say it will do: “The program allows the City to draw down funds as they are needed during the construction of projects (24-59 months).”
- The money, in the minutes' words: “Action Requested: Adoption of a resolution directing the City Manager and Chief Financial Officer to pursue debt financing for capital projects with a draw program that includes the issuance of interim, variable rate General Obligation Bonds (GOs) in an amount not to exceed $25,000,000.”
More from the minutes
- “Funds are included in the City’s FY 2020-2021 proposed debt service budget to cover these costs.”
Official title: Resolution approving the 2020 General Obligation Bond Draw Program
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilwoman Smith and carried unanimously by roll call vote.
Read the motion as recorded
“RESOLUTION NO. 20-90 - RESOLUTION APPROVING THE 2020 GENERAL OBLIGATION BOND DRAW PROGRAM”
Open the minutesConsent agenda, item I