Council approves calling election on up-to-$8 million general obligation loan

A council member moved to adopt "resolution number 3637" calling an election on a proposal to enter into a general obligation loan agreement to borrow a principal amount not to exceed $8 million. A second was given, the clerk took a roll call and the motion carried.

The motion was presented after council discussion about project financing; one speaker said that any costs above the "top dollar" would require fundraising or grant funding and added that "$8 million should be plenty." The roll call recorded affirmative responses from Gorgon, Hick and Grimes; the transcript does not record other votes or whether the vote was unanimous beyond those recorded names.

The resolution text on the record called for an election on the loan agreement and set a maximum principal of $8,000,000. The transcript contains a brief inconsistency in the resolution number (it is spoken as both "3637" and "2637" in different lines); the council record should be consulted to confirm the official ordinance or resolution number and the final vote tallies.

Next steps noted in the meeting record: the council carried the motion and moved on to other business; the transcript does not record a date for an election or additional procedural steps in this segment.