HomeMy WebLinkAbout90-401
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RESOLUTION NO. 90-40
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
UKIAH ACCEI~ING CONSTUCTION ID~ UNDER THE
CALIFORNIA SAFE DRINKING WATER BOND LAW OF
1986 AND MATTERS RELATED THERETO.
WHEREAS, the State Department of Water Resources notified the City of
Ukiah on October 30, 1989, that the City is eligible for a $2,700,000
construction loan under the California Safe Drinking Water Bond Law of
1986; and
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WHEREAS, the total principle amount of the loan with the addition of
the state' s 5% administrative fee required by that law is $2,835,000; and
WHEREAS, the State Department of Health Services has required the
City as a condition of its permit to operate its water system to construct
a water treatment plant; and
WHEREAS, the 30-year loan at a 3.6024% interest rate available under
the California Safe Drinking Water Bond Law of 1986 is the least costly
source of funds available to the City to construct these improvements to
its water system; and
WHEREAS, it is in the best interest of the City and the customers of
its water system to make these improvements using the loan funds available
under said law;
NC~, THEREFORE, BE IT RESOLVED, that:
1. The City of Ukiah accept the loan as described in the letter
from the Department of Water Resources, dated October 26, 1989, and the
City Construction Loan Contract No. E54304 (true and correct copies of
which are attached hereto as Exhibit A and incorporated herein by
reference) .
2. The Mayor of the City of Ukiah is hereby designated as the
officer of the City authorized to sign the contract set forth in
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Exhibit A.
3. The City Manager or his authorized designee is hereby
designated as the person authorized to approve Partial Payment Estimates.
PASSED AND ADOPTED this
21 day of February , 1990, by the
following roll call vote:
A~S: Councilmembers Wattenburger, Schneiter, Hickey and Mayor Henderson
NOES: None
ABSENT: Counci lmember Shoemaker