Baldwin County, Alabama
Share to Facebook Share to Twitter Bookmark and Share
File #: 21-0098    Version: 1
Agenda section: Action Items Status: Passed
File created: 10/12/2020 Meeting type: Baldwin County Commission Regular
On agenda: 10/20/2020 Final action: 10/20/2020
Agenda item title: *Authorization for a Line of Credit for Hurricane Sally Repairs
Attachments: 1. Warrant Specs Baldwin County Line of Credit 2020 4811-8937-8254 1 - Final, 2. RFP Baldwin County Line of Credit 2020 4813-2326-8302 1 - Final, 3. *Replacement Attachment Warrant Specs Baldwin County Line of Credit, 4. *Replacement Attachment RFP Baldwin County Line of Credit

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