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EGty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.3 <br /> Agenda Section Meeting Date Prepared by <br /> Consent September 21, 2015 Tim Simon, Finance Director <br /> Item Description Reviewed by <br /> Quiet Zone Interfund Loan Amendment Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion, an amendment to Resolution 14-49 regarding interfund loan for the Quiet Zone <br /> improvements. <br /> Background/Discussion <br /> On September 2, 2014, the Council approved an interfund loan agreement for the implementation of <br /> Quiet Zone improvements. This loan combined with the Street Improvement Reserve Budget line item <br /> is anticipated to fund the Quiet Zone improvement. <br /> Due to the recent updates regarding the timing of the improvements, staff is recommending adjusting <br /> Resolution 14-49 since the project more than likely won't be completed in 2015. <br /> The new resolution and repayment schedule is only an estimate and once the project is complete a final <br /> amortization schedule will be completed with the actual interfund loan amounts. <br /> Financial Impact <br /> Anticipated to be included in the 2016 levy for taxes payable 2017 once final costs are determined in <br /> regards to the implementation of quiet zone improvement project. <br /> Attachments <br /> ■ Modified Resolution 14-49 <br /> ■ Updated quiet zone interfund loan resolution and amortization schedule <br /> ■ 2015-2019 Quiet Zone Capital Improvement Plan sheet <br /> POWERED 6T <br /> AR <br />