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A resolution of the City of Laredo, Texas, amending resolution No. 2024-R-256 to revise the third paragraph in order to update the description of the authorized use of funds related to the State Infrastructure Bank (SIB) Loan; providing for severability; and providing an effective date.
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VIVA LAREDO PLAN ALIGNMENT
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PREVIOUS COUNCIL ACTION
On May 5, 2025, City Council approved Ordinance 23025-O-71 authorizing the City Manager to amend the City of Laredo FY2025 Capital Improvement Fund to accept and appropriate revenues in the amount of $8,500,000.00 for the State Infrastructure Bank Loan Agreement for the West Laredo Multimodal Trade Corridor - Phase II and Phase III. Funding will be allocated in the Capital Improvement Fund. Providing that this ordinance shall be cumulative; providing a severability clause; providing for publication; and declaring an effective date.
On April 7, 2025, City Council approved Resolution 2025-R-295 authorizing the amendments, revisions, and completion, and filing of an application for financial assistance from the State Infrastructure Bank in the amount of eight million five hundred thousand dollars and zero cents ($8,500,000.00);Authorizing City Manager to act on behalf of the City of Laredo in all matters relating to the participation, including the negotiation and execution of any resultant State Infrastructure Bank Loan Agreement; Authorizing City Manager to revise and amend such application, to request that the type of issuance be a "Direct Loan" under Section 222.0745 of the Texas Transportation Code, as amended.
On August 5, 2024, City Council approved a resolution authorizing the filing of an application for financial assistance from the State Infrastructure Bank in the amount of eight million five hundred thousand dollars and zero cents ($8,500,000.00) for West Laredo Multimodal Trade Corridor -Phase II (Flecha/Las Cruces Reali...
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