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� � � <br /> . r „ <br /> COUNCIL COMMUNICATION FORM <br /> Executive Memorandum <br /> #2001-03 <br /> March 2, 2001 <br /> TO: Honorable Mayor Howley and City Council <br /> FROM: Steve Garm ity Manager <br /> SUBJECT: Line of Credit rdinance <br /> SUMMARY RECOMMENDATION: Pass Ordinance <br /> BACKGROUND: The attached ordinance, to effect a line of credit, is <br /> an add-on to Monday's agenda under Other Business. This line of credit was earlier reviewed <br /> and approved and will be accessed, as needed, to finish the City's obligation to clear property in <br /> the Near North,purchase and develop downtown properties and other capital needs as may be <br /> required. <br /> POTENTIAL OBJECTION: None <br /> INPUT FROM OTHER SOURCES: Speer Financial Association-Financial Advisor <br /> STAFF REFERENCE: Steve Garman, John Couter, and Beth Couter <br /> BUDGET/TIME No impact until credit accessed. <br /> IMPLICATIONS: <br />