Resolution 23-23 would not be presented to the City Council for adoption until December 6, 2023. Mayor Simmons was no longer on Council and Councilor Stock voted yes to the loan and debt financing plan with Business Oregon.
Below are the City Council meeting minutes of December 6, 2023 when Resolution 23-23 was unanimously passed by the City Council.
City Council Regular Session
December 6, 2023 Minutes
D. Special Public Works Fund Loan with Business Oregon – Leila Aman City Manager City Manager Leila Aman shared the Key Loan Terms and fine details of the Special Public Works Fund Loan and said that Oregon Business Development Department authorized the loan proceeds up to $5,134.631. She asked council to approve the interim financing with Resolution 23-23. She communicated that the signed loan documents, the city’s attorney opinion and Resolution 23-23 are required to execute the loan.
A motion was made by Hart to accept Resolution 23-23 Authorizing a Loan from the Special Public Works Fund and Delegating Authority to the City Manager to Enter into a Financing Contract with the Oregon Infrastructure Finance Authority.
Seconded by Spegman; Motion passed unanimously.