Meetings
 
City Council
CITY OF PUNTA GORDA
 11/7/2018
 
Print
City Council Budget
Title: A Resolution of the City Council of the City of Punta Gorda, FL, declaring the City's official intent to seek reimbursement for certain capital expenditures to be made with respect to the acquisition, design, engineering, construction, development and equipping of the canal project from the proceeds of its not to exceed $2,500,000 revenue bonds or notes and providing for an effective date.
Funds: Assessment revenues
Recommended Action: City Council approval of a resolution seeking reimbursement for canal project.
Summary:

This Resolution will allow the City to pay back the Special Use Fund and General Fund monies that were expended or will be expended on the canal project.  It is the intent to borrow funds to pay for this project.  The reimbursing resolution allows for the City to begin the project prior to financing.  By law, the City cannot reimburse back more than 60 days, but can reimburse forward up to 18 months.
Department/Division: Finance
 
EXHIBITS:
1.Resolution