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File #: ORD 15-003    Version: Name:
Type: Ordinance Status: Passed
File created: 1/26/2015 In control: CITY COUNCIL REGULAR
On agenda: 2/17/2015 Final action: 2/17/2015
Title: Ordinance No.15-003 Ratifying and Approving Various Loans with the State of Washington Details: In updating all the City's debt files, it was discovered twelve loans were not approved by an ordinance with a public hearing preceding the motion. Rather these loans were approved through consent with the City Administrator's signature. It is the opinion of Bond Counsel for the City to correct the procedural approval of the loans with a motion of City Council to ratify the existing loans by an ordinance to be signed by the Mayor. Staff has developed a new process for all future loans and reviewed this new process during the February 2, 2015 Council Workshop. Presenter: Cathy Huber Nickerson, Finance Director
Indexes: Debt Issuances, Ordinance
Attachments: 1. 021715 ORDINANCE NO. 15-003 of the City of Camas, Washington ratifying and approving various loans with the State of Washington
Title
Ordinance No.15-003 Ratifying and Approving Various Loans with the State of Washington
Details:  In updating all the City's debt files, it was discovered twelve loans were not approved by an ordinance with a public hearing preceding the motion. Rather these loans were approved through consent with the City Administrator's signature.  It is the opinion of Bond Counsel for the City to correct the procedural approval of the loans with a motion of City Council to ratify the existing loans by an ordinance to be signed by the Mayor. Staff has developed a new process for all future loans and reviewed this new process during the February 2, 2015 Council Workshop.
Presenter:  Cathy Huber Nickerson, Finance Director
Recommended Action
Recommended Action:  Staff recommends Council move to approve Ordinance No. 15-003