Res 1868 - Amend No 1 Clean Water Agr R98413
COUNCIL BILL NO. 2683
RESOLUTION NO. 1868
A RESOLUTION ENTERING INTO AMENDMENT NUMBER 1 TO CLEAN WATER
STATE REVOLVING FUND LOAN AGREEMENT NO. R98413 WITH THE STATE OF
OREGON AND AUTHORIZING THE CITY ADMINISTRATOR TO SIGN SUCH
AMENDMENT AND ANY FUTURE AMENDMENTS.
WHEREAS, the City of Woodburn has determined that the City needs to accomplish
wastewater facilities planning in order to comply with the City's National Pollution
Discharge Elimination System permit, and
WHEREAS, the State of Oregon acting by and through its Department of
Environmental Quality is authorized to enter into Clean Water State Revolving Fund loan
agreements and disburse funds pursuant to OAR 340-054-0065(2), and
WHEREAS, the City of Woodburn through Resolution 1861 authorized entering into
Clean Water State Revolving Fund Loan Agreement No. R98413 and for the City
Administrator to sign said agreement, and
WHEREAS, the State of Oregon acting by and through its Department of
Environmental Quality, has provided Amendment Number 1 to Clean Water State
Revolving Fund Loan Agreement No. R98413 modifying loan interest rates, NOW
THEREFORE:
THE CITY OF WOODBURN RESOLVES AS FOllOWS:
Section 1. That the City of Woodburn enter into Amendment Number 1 to Clean
Water State Revolving Fund Loan Agreement No. R98413 which is affixed as Attachment
"A", and by this reference incorporated herein, with the State of Oregon acting by and
through its Department of Environmental Quality, to modify interest rates on the City's
wastewater facilities planning project.
Section 2. That the City Administrator of the City of Woodburn is authorized to sign
Amendment Number 1 to Clean Water State Revolving Fund Loan Agreement No. R98413
on behalf of the City and to sign any future amendments to said loan agreement.
Page 1-
COUNCIL BILL NO. 2683
RESOLUTION NO. 1868
Approved as to form:
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
t:'l'J'Y'r ,}'f-~~~
City Attorney
q JelZ ,.IJ 'l -
C L I...A./ oj
Date
ATTEST /11a~f1r--r;:~
Mary Te nant, Recorder
City of Woodburn, Oregon
Page 2- COUNCIL BILL NO. 2683
RESOLUTION NO. 1868
August 13, 2007
August 15, 2007
August 15, 2007
August 15, 2007
~.
GREGO\i DEPART\o1E\iT OF E0;VIRO~MENTAL QL"ALITY
CLEA" WATER STATE REVOLVf.\G FL~D
ATTACHMENT ::t
Page ~ Elf .~
PAGEl
CLEAN WATER STATE REVOLVING FUND
LOAN AGREEMENT No. R98413
AMENDMENT No.1
CITY OF WOODBURN
This Amendment No. 1 to Loan Agreement No. R984l3 (as amended "Loan Agreement")
IS executed between the STATE OF OREGON ACTf.\:G BY AND THROUGH ITS DEPARTMENT OF
E"VIRO"iME:--.iTAL QL"ALITY ("DEQ") and the City of Woodburn (the "Borrower"), effective as of
the Effective Date of Amendment indicated below. Capitalized terms used in this Amendment
which are not defined herein shall have the meanings assigned to them in the Loan Agreement.
Date of Original Agreement: July 19,2007.
Effective Date of Amendment No. l: AugustIO,2007.
The parties agree as follovvs:
1. ARTICLE l(G) is amended and restated as follows:
"(G) I~TEREST R,UE: One and 101100 percent (1.10%) perannum. Calculation of
interest is also discussed in ARTICLE 2(E) and in ARTICLE 2(F)(4) of this Agreement."
')
The second sentence of ARTICLE 5( C)( l) is amended and restated as follows:
"Until the Final Loan Amount is calculated, the Loan Reserve Requirement is $46,857."
3. The attached "Appendix A: Repayment Schedule" replaces the current "Appendix
A: Repayment Schedule".
Except as expressly amended above, the terms and conditions of the Loan Agreement
shall remain in full force and effect.
CITY OF WOODBUR.'\;: R98413
LOAN AGREEME]',"T AMENDMENT # 1
GREGO" DEPART:VIE\;T OF E"VIRO":VIE;.JTAL QCALITY
CUA'.; WATER STATE REVOL VE\G FC\;D
BORRO\VER: CITY OF WOODBCRN
By:
Typed Name:
Title:
STATE OF OREGON ACTING BY AND THROUGH ITS
DEPARTMENT OF ENVIRONMENTAL QUALITY
By:
Lauri G. Aunan, \Vater Quality Administrator
Date:
Date:
ATIACIIMCNT
Page -1- of ')
A
PAGE 2
CITY OF WOODBl."R\;: R98413
LOA;.J AGREEMENT AMENDMEj\"T #1
OREGO\ DEPART'v1Ei"T OF E:-;VIRO\i:VIENTAL QL<\LITY
(LEA;'; WATER STATE REVOL VNG FLJND
P.TTACWME~IT /}
Page.l- of
PAGE 3
ApPE:\DIXA: REPAYMENT SCHEDULE
Due - - - - - - - - - - - - - - - - - - - PAYMENT - - - - - - - - - - - - - - - . Principal
Date Pmt# Principal Interest Fees Total Balance
450,000
6/1/2009 1 0 6,100 0 6,100 450,000
12/1/2009 2 48,910 2,475 0 51 ,385 401,090
6/1/2010 3 49,179 2,206 0 51,385 351,911
12/1/2010 4 49,449 1,936 0 51,385 302,462
6/1/2011 5 49,721 1,664 0 51,385 252,741
12/1/2011 6 49,995 1,390 0 51,385 202,746
6/1/2012 7 50,270 1,115 0 51,385 152,4 76
12/1/2012 8 50,546 839 0 51,385 101,930
6/1/2013 9 50,824 561 0 51,385 51 ,106
12/1/2013 10 51,106 281 0 51,387 0
TOTALS 450,000 18,567 0 468,567
REQUIRED LOAN RESERVE: $ 46,857
CITY OF WOODBL'R:--<: R984l3
LOA:--< AGREEMENT AMENDMENT # 1