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Sponsored by: Oates CITY OF SEWARD, ALASKA RESOLUTION 2009-047 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, STATING AN INTENT TO FUND $278,000 FOR THE #3 Lift STATION ELECTRICAL UPGRADE PROJECT SUBJECT TO RECEIVING A LOAN IN THAT AMOUN'}, AUTHORIZING A LOAN APPLICA'[7ON ~'~'ITII THE ALASKA CLEAN' WATER FUND AND AUTHORIZING THE CITY MANAGER TO ACCEPT A LOAN OFFER FROM THF. ALASKA CLEAN ~'F'ATER FUND WITH PAYMENTS SUBJECT TO ANNUAL APPROPRIATION WHEREAS, the Seward City Council in its 2009 Capital Budget identified the #3 Lift Station Electrical Upgrade Project as being a priority; and WHEREAS, the project entails completing the generator electrical components and the installation of the air exchange system; and WHEREAS, the timing of the project is critical in that the American Recovery and Reinvestment Act has provided funding to the State of Alaska for projects that are shovel ready; and WHEREAS, the City oC Seward seeks to obtain the necessary financial assistance to complete the necessary electrical upgrades by way of obtaining a loan from the State of Alaska, Department of Enviromnental Conservation's (ADEC) Alaska Clean Water Fund. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA that: Section 1. The City of Seward is hereby committing to the State ofAlaska (ADEC), its intent to fund the $278,000 project, subject to receiving the loan described below, with the additional details of the project funding to be determined at a future time. Section 2. The City Manager is authorized to apply for a loan in the amount of $278,000 from the State of Alaska Department of Environmental Conservation, Clean Water Fund, for the wastewater improvements known as LiR Station #3 Electrical Upgrade Project. Section 3. The City Manager is hereby authorized to execute any and all documents that may be necessary to reflect the $278,000 loan from ADEC, the teens of its repa}nnent over 5 years at a rate of interest equal to 1.5% subject to annual appropriation, including but not limited to an agreement for the loan and a promissory note. Section 4. This resolution shall take affect immediately upon its adoption.