Res 1159 - Loan# R98410 DEQ
COUNCIL BILL NO. 1442
RESOLUTION NO. 1159
A RESOLUTION ENTERING INTO AN AGREEMENT WITH THE STATE OF OREGON,
DEPARTMENT OF ENVIRONMENTAL QUALITY, FOR STATE REVOLVING FUND LOAN
NUMBER R98410 AND AUTHORIZING THE MAYOR AND CITY RECORDER TO SIGN
SUCH AGREEMENT.
WHEREAS, the City of Woodburn has applied for a State Revolving Fund Loan
project for facility planning/design of an advanced wastewater treatment system for
the city, and
WHEREAS, the City of Woodburn has entered into negotiations with the
Department of Environmental Quality for a loan to the City from the State Revolving
Fund in the approximate amount of $300,000, and
WHEREAS, the DEQ has provided to the City State Revolving Fund Agreement
number R98410 dated December 15, 1992, NOW THEREFORE,
THE CITY OF WOODBURN RESOLVES AS FOLLOWS:
Section 1. That the City of Woodburn enter into an agreement with the State
of Oregon acting through its Department of Environmental Quality to secure $300,000
in loan funds through State Revolving Fund Loan number R98410 for the financing
of a wastewater treatment facilities project. Said agreement is attached hereto and
by this reference incorporated herein.
Section 2. The City does authorize and approve the establishment and funding
of a designated reserve account to meet the "Loan Reserve" requirement of the SRF
Loan Agreement, and does direct establishment of this Loan Reserve.
Section 3. That the Mayor and City Recorder of the City of Woodburn, acting
for and on behalf of the City, be authorized to execute the SRF Loan Agreement and
such other and additional documents as may reasonably be required for the
consummation and closing of the Loan, and any amendments required thereafter.
Page 1
. COUNCIL BILL NO.
RESOLUTION NO.
1442
1159
Approved as to for:;uJ"rq ~
City Attorney
/2/J~ )72-
/ Date I
APPROVED:
Passed by the Council December 28, 1992
Submitted to the Mayor December 30, 1992
Approved by the Mayor December 30, 1992
Filed in the Office of the Recorder December 30, 1992
ATTEST: /'7~'-----~
Mary Te nt, City Recorder
City of Woodburn, Oregon
Page 2 . COUNCIL BILL NO. 1442
RESOLUTION NO. 1159