Title
Approval to Pay off Letters of Credit for Paving and Police Cars
Body
SUMMARY: The City has 2 Lines of Credit for Paving and Police cars. These have balances of $728,000 for Paving and $807,000 for Police cars. The Finance Director recommends that the City pay these two loans off before June 30, 2017.
BUDGET ACCOUNT:110-49000-611
Recommended Action
NECESSARY COUNCIL ACTION: Allow the Finance Director to pay these loans off using funds in the general fund