Determination Certificate regarding draw down in amount of $1,620,000 on City revolving line of credit with Wells Fargo Bank, National Association, of ordinance adopted May 1, 2002, amended March 14, 2012, further amended February 5, 2014, now with replacement note of June 28, 2024, aggregate outstanding amount not to exceed $265,500,000
Chicago's CFO submits a Determination Certificate to City Clerk Andrea M. Valencia, outlining a $1,620,000 draw from a revolving credit agreement with Wells Fargo Bank, authorized by 2002, 2012, and 2014 ordinances. The agreement, initiated on December 1, 2021, under Mayor Brandon Johnson, caps at $265,500,000, with a note date of June 28, 2024, a specified interest rate determination method, all conditions precedent satisfied, and no default event.