HomeMy WebLinkAbout39-04 RESOLUTIONNAME OF FILE:
CROSS REFERENCE:
Item #
Date
•
Resolution No. 39-04
Document
•
1
03/03/04
memo to mayor & city council
2
draft resolution
3
07/17/01
copy of Res. 107-01
4
03/03/04
Staff Review Form
5
03/22/04
memo to Hugh Earnest
NOTES:
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
65
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March 16, 2004 City Council Meeting
To: Mayor Dan Coody and Fayetteville City Council
Thru: Hugh Earnest, Chief Administrative Officer
From: Stephen Davis, Finance & Internal Services Directc,A�.
Date: March 3, 2004
SUBJECT: Delegation of Signatory Authority - ASWCC Loan Documents
Recommendation
The Fayetteville City Council, designate Dan Coody, Mayor and Stephen Davis, Finance & internal Services
Director as the City of Fayetteville signatories for the Arkansas Soil & Water Conservation Commission
Revolving Loan Program loan documents.
Background
Resolution 107-01 designated Dan Coody, Mayor and Ted Webber, Administrative Services Director as the
official City of Fayetteville signatories to the Arkansas Soil & Water Conservation Commission Revolving
Loan Agreements. The resolution needs to be changed to reflect the current staff.
The AWSCC has committed to loan the City of Fayetteville $100 million for the construction and equipping
of the WSIP project. The agreed upon interest rate is fixed at 3.00% as long as the loan is repaid, in full,
within nine and a half (9.5) years of date of the loan closing and 3.25% for all loans that are repaid in ten (10)
years or more.
It is Staffs intent to structure the Soil & Water loan to take advantage of the 3% interest rate. To fully fund
the WSIP Project and take advantage of the lower interest rate from ASWCC, a commercial bond issue was
completed in 2002. The debt service for the ADEQ loan and commercial bond issue is expected to be funded
with a dedicated three fourths (3/4) per cent city sales tax.
1:\DEBT FINANCING \WSIP \ADEQ \WWTP SIGNATORY DELEGATION AGENDA MEMO.DOC
• •
RESOLUTION NO.
A RESOLUTION DELEGATING SIGNATORY AUTHORITY
IN CONNECTION WITH STATE REVOLVING LOAN FUND
ASSISTANCE
WHEREAS, the City of Fayetteville, Arkansas (the "City") deems it necessary
and proper to apply for State loan assistance under Title VI of the Water Quality Act of
1987, Public Law 100-4, and the rules and regulations pursuant thereto, in order to fund
all or a portion of the costs of the acquisition, construction and equipping of a new sewer
treatment facility; and, for the acquisition, construction, reconstruction, extending,
improving and equipping of modification to the sewer collection system; and, for
construction, reconstruction, extending, improving and equipping improvements to the
existing sewer treatment plant; hereinafter called the "Project".
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1. That Dan Coody, Mayor, and Stephen Davis, Finance and Internal
Services Director, as the Signatory Agents of the City, or the successors of said Signatory
Agents, are hereby authorized and directed to make application for assistance with
respect to the Project under Public Law 100-4 and the Arkansas Revolving Loan Fund
and to sign the acceptance of the loan agreement, when made, and any other documents
required to complete the Project, on behalf of the City.
Section 2: That a copy of this Resolution shall be famished by the Mayor to the
Arkansas Department of Environmental Quality and/or the Arkansas Soil and Water
Conservation Conunission, as the agency overseeing the Arkansas Revolving Loan Fund
Program.
PASSED and APPROVED this the 16th day of March, 2004.
ATTEST:
By:
SONDRA SMITH, City Clerk
APPROVED:
By:
pRII•CS
DAN CO Y, Mayor
RESOLUTION NO. 107-01
A RESOLUTION DELEGATING SIGNATORY AUTHORITY IN
CONNECTION WITH STATE REVOLVING LOAN FUND ASSISTANCE
WHEREAS, the City of Fayetteville, Arkansas (the "City") deems it
necessary and proper to apply for State loan assistance under Title VI of the
Water Quality Act of 1987, Public Law 1004, and the rules and regulations
pursuant thereto, in order to fund all or a portion of the costs of the acquisition,
construction and equipping of a new sewer treatment facility; and, for the
acquisition, construction, reconstruction, extending, improving and equipping of
modifications to the sewer collection system, and, for construction,
reconstruction, extending, improving and equipping of improvements to the
existing sewer treatment plant; hereinafter called the "Project".
NOW, THEREFORE, 13E IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1. That Dan Coody, Mayor, and e e , strative
as the Signatory Agents of the City, or the successors of said
Signatory Agents, are hereby authorized and directed to make application for
assistance with respect to the Project under Public Law 100-4 and the Arkansas
Revolving Loan Fund and to sign the acceptance of the loan agreement, when
made, and any other documents required to complete the Project, on behalf of
the City.
Section 2. That a copy of this Resolution shall be furnished by the
Mayor to the Arkansas Department of Environmental Quality and/or the
Arkansas Soil and Water Conservation Commission, as the agency overseeing
the Arkansas Revolving Loan Fund Program.
D and APPROVED this the 17th day of July, 2001.
ATTEST:
By:���A/iztu
eather Woodruff, City Cle k
APPROVED:
By
STAFF R IEW FORM - NON-FINANCIAL OBLATION
XX AGENDA REQUEST
For the Fayetteville City Council Meeting of: March 16,2004
FROM:
Stephen Davis Finance & Internal Services
Name
Division Department
ACTION REQUIRED: Approve a resolution designating Dan Goody, Mayor and Stephen Davis, Finance &
Internal Services Director signatories for the Arkansas Soil & Water Conservation Commission RLF Loan
documents.
SUMMARY EXPLANATION: This action is needed to update Resolution 107-01.
STAFF RECOMMENDATION: Approve the resolution.
DivlajoI Head
to
City rney
Received in Mayor's Office
Date Date
-3
Date �y
Department Director Date
Finance & Internal Services Dir.
ci,„„th
3-3-0-5c
Date
Chief Ai nietrative Officer Date
Mayor Date
Cross Reference:
Previous Ord/Res#: RLS, /c7 -0f
Orig. Contract Date:
Orig. Contract Number:
New Item: Yes
FAYETTEVFLLE
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENTAL CORRESPONDENCE
•
To: Hugh Earnest
Administration
From: Clarice Buffalohead-Pearman
City Clerk Division
Date: March 22, 2004
Re: Resolution 39-04
Attached is a copy of the above resolution passed by the City Council, March 16, 2004,
delegating signatory authority to Mayor Coody and Steve Davis regarding the ASWCC loan
documents.
This resolution will be recorded in the city clerk's office and microfilmed. If anything else is
needed please let the clerk's office know.
/cbp
attachments
cc: Nancy Smith, Internal Auditor
•
RESOLUTION NO, 39-04
A RESOLUTION DELEGATING SIGNATORY AUTHORITY
IN CONNECTION WITH STATE REVOLVING LOAN FUND
ASSISTANCE
WHEREAS, the City of Fayetteville, Arkansas (the "City") deems it necessary
and proper to apply for State loan assistance under Title VI of the Water Quality Act of
1987, Public Law 100-4, and the rules and regulations pursuant thereto, in order to fund
all or a portion of the costs of the acquisition, construction and equipping of a new sewer
treatment facility; and, for the acquisition, construction, reconstruction, extending,
improving and equipping of modification to the sewer collection system; and, for
construction, reconstruction, extending, improving and equipping improvements to the
existing sewer treatment plant; hereinafter called the "Project".
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That Dan Coody, Mayor, and Stephen Davis, Finance and Intemal
Services Director, as the Signatory Agents of the City, or the successors of said Signatory
Agents, are hereby authorized and directed to make application for assistance with
respect to the Project under Public Law 100-4 and the Arkansas Revolving Loan Fund
and to sign the acceptance of the loan agreement, when made, and any other documents
required to complete the Project, on behalf of the City.
Section 2: That a copy of this Resolution shall be furnished by the Mayor to the
Arkansas Department of Environmental Quality and/or the Arkansas Soil and Water
Conservation Commission, as the agency overseeing the Arkansas Revolving Loan Fund
Program.
PASSED and APPROVED this the 16`h day of March, 2004.
,i pY E TTF/` APPROVED:
•
By:_ AAAA
SO SMITH, City Clerk
By:
DAN COODY, Mayor