Title
Approval of a resolution authorizing the borrowing of funds and documents in relation to the borrowing of funds
Body
SUMMARY: Approval of a resolution authorizing a loan pursuant to a loan agreement between the City of Crossville, Tennessee, and the Public Building Authority of the City of Clarksville, Tennessee, in the principal amount of not to exceed $4,700,000; authorizing the execution and delivery of such loan agreement and other documents relating to said loan; approving the issuance of a bond by such Public Building Authority; providing for the application of the proceeds of said loan and the payment of such indebtedness; consenting to the assignment of the City's obligation under such loan agreement; and, certain other matters is recommended.
Recommended Action
NECESSARY COUNCIL ACTION: approve