CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
DISTRICT, DEPARTMENT, CONTACT INFORMATIOn:
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Details
District 4
Capital Improvement Department, Joaquin Rodriguez, (915) 212-0065
Capital Improvement Department, Margaret Schroeder, (915) 212-0065
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AGENDA LANGUAGE:
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Title
Discussion and action on a Resolution that the City Council hereby accepts the State Infrastructure Bank loan agreement in its substantially final form in order to secure receipt of funds in the amount of Four Million Sixty-Seven Thousand Dollars ($4,067,000.00), to be fully repaid over no more than twenty-five (25) years, for SIB loan number S2026-006-08 Reconstruction of Railroad Drive, to finance the City’s local match and actual cost of construction, environmental, utility relocation, engineering, and right of way acquisition of the Project, that the City Council hereby authorizes the City Manager to execute the State Infrastructure Bank loan agreement, together with all required documentation, to effectuate the City’s intent to borrow such funds, and that the City Council further authorizes the City Manager to take or perform any actions required for implementation of this Resolution to receive funding from the State Infrastructure Bank and authorizes the City Manager, or designee, to effectuate any budget transfers and execute any contracts and/or related documents necessary to ensure that the funds are properly expended.
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