Temp. Reso. #R7025 accepting a proposal of STI Institutional & Government Inc., and Suntrust Bank to provide the City with taxable and tax-exempt term loans in order to finance costs of various capital improvements within the City; approving the form of loan agreements with STI Institutional & Government Inc., and SunTrust Bank; authorizing the issuance of promissory notes pursuant to such loan agreements in the aggregate principal amount of not-to-exceed $10,000,000 in order to evidence such loans; authorizing the repayment of such notes 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 notes and various other documents with respect thereto. (Assistant Director of Financial Services Ian J. Thomas and Director of Procurement Alicia Ayum)

Committee

CITY COMMISSION REGULAR MEETING

Requested by

Finance

Introduced

September 9, 2019

On agenda

October 16, 2019

Passed

December 31, 2023