ORD 24-012CITY OF CAMAS, WASHINGTON
ORDINANCE NO. 24-012
AN ORDINANCE of the City of Camas, Washington, amending
Ordinance No. 22-013, to extend the term of the City's Limited Tax General
Obligation Bond Anticipation Note, 2022 .
WHEREAS, the City Council of the City of Camas, Washington (the "City") passed
Ordinance No . 22-013, establishing a revolving line of credit in the aggregate principal amount of
not to exceed $7 ,000,000 to provide short-term financing to be used for transportation projects ,
general City liquidity and other capital improvements (collectively, the "Projects"); and
WHEREAS, the City issued its Limited Tax General Obligation Bond Anticipation Note,
2022 (the "Note") to Key Bank National Association (the "Bank") to evidence the line of credit ;
and
W HEREA S , the N ote m at ured on Septem b er 1, 2024, and the C ity would like to extend
the Note for 60 day s whi le the C ity and Bank fi nali ze terms for a new revo lv ing line of cred it to
repay the Note and continue financing the Projects; and
WHEREAS, it is in the best interest of the City to extend the term of the Note;
THE CITY COUNCIL OF THE CITY OF CAMAS, WASHINGTON, DO ORDAIN AS
FOLLOWS:
Sectio n 1. Exten sion of Term . The maturity date of the Note shall be extended from
September 1, 2024 to October 31, 2024.
All other provisions of Ordinance No. 22-013 shall remain unchanged.
Section 2 . General Authorization an d R atificatio n . The Mayor, City Administrator,
Finance Director and other appropriate officers of the City are authorized to take any action
necessary to implement this ordinance and the extension of the Note. All actions taken prior to
the effective date of this ordinance in furtherance of the purposes described in this ordinance and
not inconsistent with the terms of this ordinance are ratified and confirmed in all respects.
Secti on 3 . Effect ive Date of Ordinance . This ordinance shall take effect and be in
force from and after its passage and five days following its publication as required by law.
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PASSED by the City Council and APPROV E D by the Mayor of the City of Camas,
Washington, at an open public meeting thereof, this 16th day of September, 2024.
Mayor
APPROVED AS TO FORM:
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2
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CERTIFICATION
I, the undersigned, City Clerk of the City of Camas, Washington (the "City"), hereby
certify as follows:
1. The attached copy of Ordinance No. 24-012 (the 'Ordinance ') is a full, true and
correct copy of an ordinance duly passed at a regular meeting of the City Council of the City held
at the regular meeting place thereof on September 16 , 2024, as that ordinance appears on the
minute book of the City.
2. That said meeting was duly convened , held and included an opportunity for public
comment, in all respects in accordance with law; due and proper not ice of such meeting was given;
that a legal quorum of the members of the City Council was present throughout' the meeting; and
a majority of the members voted in the proper manner for the passage of the Ordinance.
3. The Ordinance will be in full force and effect five days after publication in the
City's official newspaper, which publication date is expected to be September 23, 2024.
Dated: September 16, 2024.
CITY OF CAMAS, WASHINGTON
~~Ch City
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