As mentioned above, the City has agreed to lend us $250,000 in a tax anticipation loan so that we don’t run short of funds before tax disbursements are resumed in late December or early January. Using our previous resolution as a template, I have drafted a new resolution that would empower me to enter into the necessary Inter-Governmental Agreement to secure this loan and to repay it no later than March 1, 2026.

Recommendation: I recommend that you approve Resolution 20251120-1 authorizing a loan from the City of Palos Heights in the amount of $250,000.00.

Item 3 – Resolution 251120-1Download