Res 1946 - Amend 4 Clean Water FundCOUNCIL BILL NO. 2797
RESOLUTION NO. 1946
A RESOLUTION ENTERING INTO AMENDMENT NUMBER 4 TO CLEAN
WATER STATE REVOLVING FUND LOAN AGREEMENT NO. R98413 WITH
THE STATE OF OREGON AND AUTHORIZING THE CITY
ADMINISTRATOR TO SIGN SUCH AMENDMENT.
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 4 to Clean Water State
Revolving Fund Loan Agreement No. R98413 modifying the amount of the loan, NOW,
THEREFORE,
THE CITY OF WOODBURN RESOLVES AS FOLLOWS:
Section 1. That the City of Woodburn enter into Amendment Number 4 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 increase the amount
of the loan.
Section 2. That the City Administrator of the City of Woodburn is authorized to
sign Amendment Number 4 to Clean Water State Revolving Fund Loan Agreement No.
R98413 on behalf of the City.
Approved as to form:
City Attorney Dat
Page 1 COUNCIL BILL NO. 2797
RESOLUTION NO. 1946
APPROVE
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
Attest: rp--V�
Mary T61ant, Recorder
City of Woodburn, Oregon
Page 2 COUNCIL BILL NO. 2797
RESOLUTION NO. 1946
July 27, 2009
July 30, 2009
July 30, 2009
July 30, 2009
OREGON DEPARTMENT OF ENVIRONMENTAL QUALITY
CLEAN WATER STATE REVOLVING FUND
CLEAN NATER STATE REVOLVING FUND
LOAN AGREEMENT. NO, R98413
AMENDMENT No. 4
CITY OF WOODBURN
This Amendment No. 4 to Loan Agreement No. R98413 (as amended "Loan
Agreement") is executed between the STATE OF OREGON ACTING BY AND THROUGH ITS
DEPARTMENT OF ENVIRONMENTAL QUALITY ("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.
The purpose of this amendment is to increase the amount of the Loan by $100,000
Date of Original Agreement: July 19, 2007.
Effective Date of Amendment No. 1: August 10, 1007.
Effective Date of Amendment No. 2: December 7, 2007.
Effective Date of Amendment No. 3: December 26, 2008.
Effective Date of Amendment No. 4: July 17, 2009.
The parties agree as follows:
1. ARTICLE 1(C) is amended and restated as follows:
"(C) LoAN AMOUNT: $700,000."
2. The second sentence of ARTICLE 5(C)(1) is amended and restated as follows:
"Until the Final Loan Amount is calculated, the Loan Reserve Requirement is
$72,549."
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.
PAGE 1
CITY OF WOODBURN: R98413 LOAN AGREEMENT AMENDMENT 44
OREGON DEPARTMENT OF ENVIRONMENTAL QUALITY
CLEAN WATER STATE REVOLVING FUND
BORROWER: CITY OF WOODBURN
m1b
Date:
Typed Name:
Title:
STATE OF OREGON ACTING BY AND THROUGH ITS
DEPARTMENT OF ENVIRONMENTAL QUALITY
Date:
Neil Mullane, Water Quality Administrator
PAGE 2
CITY OF WOODBURN: R98413 LOAN AGREEMENT AMENDMENT #4
OREGON DEPARTMENT OF ENVIRONMENTAL QUALITY
CLEAN WATER STATE REVOLVING FUND
APPENDIX A: REPAYMENT SCHEDULE
BORROWER:
City of Woodburn
ANNUAL INTEREST RATE
1.10%
SRF LOAN NO.:
R98413
TERM IN YEARS:
5
LOAN AMOUNT:
$ 7001000
PAYMENT AMOUNT:
$
79,932
LOAN FEE:
0.0%1
LANNUAL FEE:
0.0%
Due
------------------- PAYMENT ----------------
Principal
Date
Pmt#
Principal Interest
Fees
Total
Balance
7001000
12/1/2009
1
0
6,100
0
6,100
7001000
6/1/2010
2
761082
31850
0
791932
6231918
12/1/2010
3
76,500
31432
0
791932
5471418
6/1/2011
4
76,921
3,011
0
791932
470,497
12/1/2011
5
77,344
21588
0
79,932
393,153
6/1/2012
6
771770
21162
0
791932
3153383
12/1/2012
7
78,197
11735
0
79,932
2371186
6/1/2013
8
781627
11305
0
791932
1581559
12/1/2013
9
791060
872
0
79,932
791499
6/1/2014
10
79,499
437
0
79,936
0
TOTALS 700,000 251492 0 725,492
REQUIRED LOAN RESERVE: $ 72,549
PAGE 3
CITY OF WOODBURN: R98413 LOAN AGREEMENT AMENDMENT #4