HomeMy WebLinkAbout02-003RESOLUTION NO. 02-003
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND,
WASHINGTON AUTHORIZING THE CITY MANAGER TO SIGN A LOAN
AGREEMENT WITH THE WASHINGTON STATE DEPARTMENT OF ECOLOGY
WHEREAS, The 2000 Wastewater Facility Plan identified four separate projects (Gaines
Street Pump Station; Sewer Trunk Line - Ph II; and two inflow and infiltration removal projects
on Washington Street) that would eliminate overflow of untreated sewage and extend the
capacity of the City's Waste Water Treatment Plant; and
WHEREAS, The total cost of these projects is estimated at $2,538,015.; and
WHEREAS, There is a shortfall of $1,000,000 between local funds, Public Works Trust
Fund monies and project costs; and
WHEREAS, State Revolving Fund (SRF) Loans are funds that are offered to
communities at a low interest rate to complete vital projects to ensure water quality; and
WHEREAS, The City was able to obtain a 1.5% (SRF) loan for $1,000,000.,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Port
Townsend as follows: The City Manger is hereby authorized to sign a loan agreement in the
amount of $1,000,000. with the Washington State Department of Ecology.
ADOPTED by the City Council of the City of Port Townsend at a regular meeting
thereof, held this 19th day of February, 2002.
Kees Ko~~~ Ma~~
Attest:
Approved as to form:
City Clerk
John Watts
City Attorney
Resolution 02-003