HomeMy WebLinkAboutResolution 016-2011Resolution No. 16 -1 1
Whereas, the City of Brookings has identified the need to upgrade the storm water system; and
Whereas, the City of Brookings proposes to undertake improvements to the storm water
system; and
Whereas, the City of Brookings is eligible to apply for Clean Water State Revolving Fund (SRF)
Program assistance for the proposed project; and
Whereas, with the submission of the SRF application, the City of Brookings assures and certifies
that all SRF program requirements will be fulfilled.
Therefore Be It Resolved that the City of Brookings duly authorizes the City Manager of
Brookings to execute and submit an SRF loan application requesting up to $2,243,431 of loan
funds for the proposed project to be borrowed at an interest rate of 3.0% for a term of 20
years and to be secured by storm water fees.
Further Be It Resolved, that the City Manager of Brookings be hereby designated as the
certifying officer for any loan agreement, contracts, pay requests, correspondence, and other
required documents as a result of this application.
This resolution is effective immediately upon passage.
Passed and approved this 25th day of January 20I I.
U-
ornes, City Clerk
CITY OF BROOKINGS
Tim Reed, Mayor