City Council

8. Undergrounding Program Financing Update\nRecommended Action: Staff recommends the City Council: 1) Receive a\npresentation from City staff regarding IBank financing and updated cash flow\ninformation; 2) Provide direction to staff on whether the City should proceed with\nsubmitting a loan pre-application to IBank and the preferred term of the loan (10\nor 15 years); and 3) Provide direction to staff on whether to include funds for Utility\nUndergrounding District 1B – Stratford Court North in the total loan amount.\nReference: Clerk’s File No. 203-3, 1001-2