Meeting Type: BCC Regular Meeting
Meeting Date: 10/20/2020
Item Status: New
From: Ronald J. Cink, Budget Director
Submitted by: Christie Davis, Senior Budget Accountant
______________________________________________________________________
ITEM TITLE
Title
*Authorization for a Line of Credit for Hurricane Sally Repairs
Body
STAFF RECOMMENDATION
Recommendation
Authorize staff to pursue a line of credit.
End
BACKGROUND INFORMATION
Previous Commission action/date: N/A
Background: Staff has determined the best financial course of action to provide the necessary up-front funds for Hurricane Sally repairs is to pursue a line of credit.
FINANCIAL IMPACT
Total cost of recommendation: TBD
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? TBD
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: Once a bank is chosen, approval will be brought to the Commission at the 11/03/2020 meeting.
Individual(s) responsible for follow up: Accounting/Finance and Budget staff
Action required (list contact persons/addresses if documents are to be mailed or emailed): N/A
Additional instructions/notes: N/A