Case File 26-0680
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Discussion and action on a Resolution that the City Council hereby accepts the State Infrastructure Bank (SIB) loan agreement in its substantially final form in order to secure receipt of funds in the amount of Four Hundred Fifty-Eight Thousand Dollars ($458,000.00), to be fully repaid over no more than twenty five (25) years, for SIB loan number S2026-005-07 Playa Drain Shared Use Path, to finance the City’s local match and actual cost of construction, environmental, utility relocation, engineering, and right of way acquisition of the Project, that the City Council hereby authorizes the City Manager to execute the State Infrastructure Bank loan agreement, together with all required documentation, to effectuate the City’s intent to borrow such funds, and that the City Council further authorizes the City Manager to take or perform any actions required for implementation of this Resolution to receive funding from the State Infrastructure Bank and authorizes the City Manager, or designee, to effectuate any budget transfers and execute any contracts and/or related documents necessary to ensure that the funds are properly expended. [POSTPONED FROM 06-09-2026]
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Discussion and action on a Resolution that the City Council hereby accepts the State Infrastructure Bank (SIB) loan agreement in its substantially final form in order to secure receipt of funds in the amount of Four Hundred Fifty-Eight Thousand Dollars ($458,000.00), to be fully repaid over no more than twenty five (25) years, for SIB loan number S2026-005-07 Playa Drain Shared Use Path, to finance the City’s local match and actual cost of construction, environmental, utility relocation, engineering, and right of way acquisition of the Project, that the City Council hereby authorizes the City Manager to execute the State Infrastructure Bank loan agreement, together with all required documentation, to effectuate the City’s intent to borrow such funds, and that the City Council further authorizes the City Manager to take or perform any actions required for implementation of this Resolution to receive funding from the State Infrastructure Bank and authorizes the City Manager, or designee, to effectuate any budget transfers and execute any contracts and/or related documents necessary to ensure that the funds are properly expended. [POSTPONED FROM 06-09-2026]
Vote: 8 for, 0 against
approve resolution accepting SIB loan of $458,000 for Playa Drain Shared Use Path
Discussion and action on a Resolution that the City Council hereby accepts the State Infrastructure Bank (SIB) loan agreement in its substantially final form in order to secure receipt of funds in the amount of Four Hundred Fifty-Eight Thousand Dollars ($458,000.00), to be fully repaid over no more than twenty five (25) years, for SIB loan number S2026-005-07 Playa Drain Shared Use Path, to finance the City’s local match and actual cost of construction, environmental, utility relocation, engineering, and right of way acquisition of the Project, that the City Council hereby authorizes the City Manager to execute the State Infrastructure Bank loan agreement, together with all required documentation, to effectuate the City’s intent to borrow such funds, and that the City Council further authorizes the City Manager to take or perform any actions required for implementation of this Resolution to receive funding from the State Infrastructure Bank and authorizes the City Manager, or designee, to effectuate any budget transfers and execute any contracts and/or related documents necessary to ensure that the funds are properly expended. [POSTPONED FROM 06-09-2026]
Vote: 7 for, 0 against, 1 absent
postpone two weeks discussion on accepting SIB loan S2026-005-07 for $458,000 for Playa Drain Shared Use Path
*Consent-style motion, maker and seconder not named in minutes