CITY of RAPID CITY

Agenda Item Summary

 

Meeting Date: 12/2/2013

Commission, Board or Committee: Legal & Finance

Staff Contact: Pauline Sumption/Terry Wolterstorff

L&F Committee: 11/26/2013

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City Council Hearing: 12/2/2013

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City Council 2nd Reading: NA

Agenda Title:

RESOLUTION 2013-118 Resolution Establishing the terms of the loan from the SAB28 Fund to the Stormwater Drainage Utility Fund for Startup Operational Costs of the Utility

Summary:

The Council previously approved a $750,000 loan from the SAB28 Fund to the Stormwater Drainage Utility Fund for the purpose of startup operational costs of the Utility.  This resolution establishes the loan terms.

Funding Source & Fiscal Impact (if applicable):

Interfund loan

Recommendation:

Action: Approve

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Attachments & Links:

Resolution 2013-118

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