SUBJECT: Authorization to Forgive Community Facilities District (CFD) Loans from the General Fund Totaling $1,710,991.71 REPORT IN BRIEF Considers forgiving Community Facilities District loans from the General Fund totaling $1,710,991.71. RECOMMENDATION City Council - Adopt a motion: A. Approving Resolution 2022-25, a Resolution of the City Council of the City of Merced, California, Authorizing Forgiveness of the Loan Agreements between the City of Merced’s General Fund and City of Merced’s Community Facilities District Public Safety Police Fund, Fire Fund, and Parks Fund; and, B. Authorizing the City Manager or the Deputy City Manager to execute any necessary documents; and, C. Authorizing the Finance Officer to make necessary budget adjustments.

What this record is

Amount

$1.71M

Runs until

no end date published in this record

Type

contract

Field

Public safety

Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Introduced

March 12, 2022

On agenda

May 2, 2022

Passed

May 2, 2022