Stilwell council ratifies City Hall loan payoff, approves $1 million budget adjustment

Stilwell City Council on March 4 ratified staff’s payment of a City Hall construction loan and approved a $1,000,000 budget adjustment to reconcile the transaction.

Council members said USDA loan proceeds totaling about $2,156,531.28 were deposited to the city’s account, enabling staff to write a check that paid off Carson Community Bank. Council members said the deposit occurred immediately before the payoff, and that staff executed the payment to avoid a missed deadline. Council then voted to retroactively adjust the budget so the accounting matched the payment.

The motion to approve the budget adjustment was made by Lane, seconded by Debbie, and carried unanimously.

The council did not record additional conditions or follow-up requirements as part of the approval. The city will reflect the payoff and the budget adjustment in its accounting records; staff indicated the action occurred at the loan closing the day before the meeting and that they sought formal council approval afterward.