ORD 16-018ORDINANCE NO. 16-018
AN ORDINANCE of the City of Camas, Washington authorizing a
Drinking Water State Revolving Fund Loan with the Washington State Public
Works Board to provide funds to construct Water Transmission Mains and
approving the Drinking Water State Revolving Fund Loan Agreement
WHEREAS, the City of Camas, Washington (the "City") applied for a Drinking Water
State Revolving Fund Loan (the "Loan") through the Washington State Department of
Health ("DOH") in the amount of $3,434,000 to provide funds to complete design and
construction of Surface Water Transmission Mains to convey water from the City's Surface
Water Treatment Plant (the "Project") to the City's distribution system; and
WHEREAS, on October 10, 2016, the City received authorization of a Loan in the
amount of $3,434,000 for the Project.
THE CITY COUNCIL OF THE CITY OF CAMAS, WASHINGTON HEREBY
RESOLVES AS FOLLOWS:
1. Terms of the Loan: The Loan will be in the principal amount of $3,434,000.
The Loan matures in 20 years, and bears interest at the rate of 1.5%. The City Council
hereby authorizes the City Administrator or Finance Director to enter into the Loan on behalf
of the City to finance the Project.
2. General Authorization and Ratification. The Mayor, City Administrator,
Finance Director and other appropriate officers of the City are severally authorized to take
such actions and to execute such documents as in their judgment may be necessary or
desirable to carry out the transaction contemplated in connection with this ordinance and for
the proper application, use and investment of the proceeds of the Loan. All actions taken
prior to the effective date of this Ordinance in furtherance of the purposes described in this
ORDINANCE NO. 16-018
Ordinance and not inconsistent with the terms of this Ordinance are ratified and confirmed
in all respects.
3. Effective Date of Ordinance. This ordinance shall take force and be in effect
five (5) days from and after its publication according to law.
PASSED BY the City Council and APPROVED by th
Washington, at an open public meeting thereof, this 17th da
ATTEST:
City Clerk
APPROVED as to form:
City Attorney