File #: RES-11:031    Version: 1 Name:
Type: Resolution Status: Filed
File created: 3/3/2011 In control: Finance & Administration Council Committee
On agenda: Final action: 3/15/2011
Title: RESOLUTION AUTHORIZING FINANCING UNDER AMENDMENT 78 FOR CAPITAL IMPROVEMENTS WITH INTEGRITY FIRST BANK
Sponsors: Mayor's Office, Finance
Attachments: 1. 2011-99 Tax Exempt Financing - Bid Sheet, 2. Written Proposal Integrity First Bank, 3. Information concerning loan
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RESOLUTION AUTHORIZING FINANCING UNDER AMENDMENT 78 FOR CAPITAL IMPROVEMENTS WITH INTEGRITY FIRST BANK
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BE IT RESOLVED BY the City Council for the City of Jonesboro, Arkansas to enter into an agreement with Integrity First Bank for a closed line of credit for up to 24 months with a five year payout in the amount of $10,500,000 at 2.37% tax-exempt, fixed rate.