City Council

e. LOAN AGREEMENT FOR CONSTRUCTION OF GUNDRY RESERVOIR ROOF\nREPLACEMENT PROJECT\nSummary:\nthe City’s General Fund and Water Enterprise Fund for the construction of\nGundry Reservoir Roof Replacement Project. The Inter-Fund Loan Agreement\nwill be for a not-to-exceed amount of $1.9 million at zero interest and payment\nterm of 20 years with the first payment beginning on January 1, 2025, in the\namount of $95,000.\nRecommendation:\nAuthorize the Mayor to execute an Inter-Fund Loan Agreement between the\nCity’s General Fund and Water Enterprise Fund for $1.9 million at zero interest\nand payment term of 20 years.