The City of Petaluma has an outstanding loan from the State -- Department of
Boating and Waterways. It was used to construct the Marina.
Currently our revenue stream at the Marina does not provide sufficient
revenues to make debt service payments on the loan.
I would be interested to hear from other agencies who have similar loans to
find out how they are handling them (i.e.);
a. Making the debt service payments and currently up-to-date on the
payments.
b. Restructured the loan to allow for reduced payments to be made.
c. Not making payments and what has transpired between your agency
and the Boating
and Waterways people.
Thanks in advance for your input.
Bill Thomas
Finance Director
City of Petaluma
(707) 778-4323
