Board Bill Number 16 | Session 2020-2021
Short Term Notes
The Notes will assist the City in financing, in part, the City's cash flow requirements during the fiscal year ending June 30, 2021, to allow the City to cover periods of temporary cash flow deficits resulting from an uneven flow of revenues. The bill will authorize the City to issue short term notes to address cash flows issues. The main components of the bill. This includes an overview of its significant provisions and/or sections? An Ordinance to provide for the borrowing of funds in anticipation of the collection of tax payments levied by the City for deposit in its General Revenue Fund for the calendar year ending December 31, 2020, and remaining uncollected and other revenues remaining to be collected and deposited in the General Revenue Fund for fiscal year ending June 30, 2021, all such revenues for the General Revenue Fund in the Treasury of the City through the issuance by the City of its Tax and Revenue Anticipation Notes, and the acquiring of credit enhancement, if necessary, in order to lower the cost of such borrowing; prescribing the form and details of such Notes; authorizing and approving certain documents and other actions; and containing an emergency clause. Proceeds of the Notes will allow the City to fund necessary operating costs incurred and due prior to the collection of certain revenues of the City.
Download Full Board Bill
- Introduced 492.13 KB
Some of these documents have attachments that can only be viewed with Adobe Reader and cannot be viewed in the "preview" modes within most Web browsers on most phones or tablets. To view these attachments, you must download the pdf and open it in Adobe Reader. You must then click on the attachment icon (represented by a paper clip) to view any attachments to the board bill.
|Committee:||Ways and Means|
05/15/2020 Second Reading
05/08/2020 First Reading
You need a program that can open Adobe PDF files. A free option:
- Adobe Reader (can read PDF files)