HomeMy WebLinkAbout94-064RESOLUTION NO. qq.~t
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PORT
TOWNSEND AUTHORIZING THE MAYOR TO SIGN A PUBLIC WORKS
TRUST FUND LOAN APPLICATION IN THE AMOUNT OF $2,000,000 FOR
WATER PROJECTS
WHEREAS, the City has adopted a Capital Improvement Program that details out several water
capital projects, including projects that are required by the SDWA, and
WHEREAS, the 1993 Rate and Financing Study identified the need for future financing for
paying for many new projects, and
WHEREAS, the Public Works Trust Fund offers low interest loans that are available to
municipalities for capital projects, and
WHEREAS, the use of such funds at a low interest rate make financial sense to the City and save
the City costs,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Port Townsend
that it authorizes the Mayor to sign the application in substantially the same form as attached.
Adopted by the City Council of the City of P n in regular ses assembled this
:~ day of ,~vl ~.y
;hn ~lise, Mayor
David A. Grove, Clerk-Treasurer
Approved as to Form: