Temp. Reso. #R6342 accepting a proposal from Pinnacle Public Finance, Inc. to provide the City with a ten year term loan in order to finance the costs of various capital improvements within the City; approving the form of a loan agreement with Pinnacle Public Finance, Inc.; authorizing the issuance of a promissory note pursuant to such loan agreement in the aggregate principal amount not to exceed ten million ($10,000,000) in order to evidence such loan; authorizing the repayment of such note from a covenant to budget and appropriate legally available non-ad valorem revenues of the City; delegating certain authority to the City Manager and other City Staff for the authorization, execution and delivery of the note and various other documents with respect thereto. (Procurement Director Randy Cross and Finance Director Claudia Dixon)

Committee

CITY COMMISSION REGULAR MEETING

Requested by

Finance

Introduced

December 20, 2016

On agenda

January 25, 2017

Passed

December 31, 2023