RES 1268RESOLUTION NO./2
A RESOLUTION providing for reimbursement to the Growth
Management Capital Fund from the proceeds of a financing
contract to be entered into with the State Treasurer's Office for the
construction of Lacamas Lodge.
WHEREAS,the City will incur construction expenses for the new Community Center
referred to as Lacamas Lodge,and
WHEREAS,the City will enter into a financing contract with the State Treasurer for the
cost of the project,and
WHEREAS,the City will incur expenses related to the construction project before the
proceeds of the financing agreement with the State Treasurer are available,and
WHEREAS,there are sufficient unappropriated monies in the Growth Management
Capital Fund to pay for such expenditure pending reimbursement from the financing contract
proceeds,
NOW,THEREFORE,THE COUNCIL OF THE CITY OF CAMAS DO RESOLVE AS
FOLLOWS :
SECTION I
The City of Camas (the "local agency")reasonably expects to reimburse the Growth
Management Capital Fund for the construction costs described above with the proceeds of a
financing contract to be entered into by the local agency and the State Treasurer (the
"reimbursement obligation").
SECTION II
The expenditures with respect to which the local agency reasonably expects to be
reimbursed from the proceeds of the reimbursement obligations are for the construction of a new
community center.
SECTION III
The expenditures with respect to which the local agency reasonably expects to be
reimbursed from the proceeds of the reimbursement obligations will be made from the Growth
Management Capital Fund .
SECTION IV
The maximum principal amount of the reimbursement obligations expected to be issued
for the property described in Section II is $1 ,600,000.00.
ADOPTED at a regular meeting of the Council of the Cixyjbf Camas this /ff —day of
March,2013.
4.
SIGNED :
Mayor
oATTEST:
Clerk
APPROVED as to form :
V
City Attorney