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Pulled by Administration Sponsored by: Hunt <br /> CITY OF SEWARD, ALASKA <br /> RESOLUTION 2012 -016 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, STATING AN INTENT TO FUND $400,000 FOR THE MAPLE <br /> STREET SEWER LINE PROJECT SUBJECT TO RECEIVING A LOAN IN <br /> THAT AMOUNT, AUTHORIZING A LOAN APPLICATION WITH THE <br /> ALASKA CLEAN WATER FUND AND AUTHORIZING THE CITY <br /> MANAGER TO ACCEPT A LOAN OFFER FROM THE ALASKA <br /> DRINKING WATER FUND WITH PAYMENTS SUBJECT TO BI- ANNUAL <br /> APPROPRIATION <br /> WHEREAS, in 2010 City staff identified several issues necessitating the addition of 850 <br /> linear feet of gravity sewer main on Maple Street; and <br /> WHEREAS, in 2011 Staff completed and submitted the required questionnaire to compete <br /> for loan monies being offered by the Alaska Clean Water Fund; and <br /> WHEREAS, this project was placed on the point source funding priority planning list for <br /> fiscal year 2012; and <br /> WHEREAS, the funding priority lists and the planning priority lists were amended upgraded <br /> Iwo <br /> this projects status and include the project in the point source funding priority list; and <br /> WHEREAS, the City of Seward seeks to obtain the necessary financial assistance to <br /> complete the Maple Street Sewer Main Extension by way of obtaining a loan from the State of <br /> Alaska, Department of Environmental Conservation's Alaska Clean Water Fund. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF SEWARD, ALASKA that: <br /> Section 1. The City of Seward is hereby committing to the State of Alaska (ADEC), its intent <br /> to fund the $400,000 project, subject to receiving the loan described below. <br /> Section 2. The City Manager is authorized to apply for a loan in the amount of $400.000 <br /> from the State of Alaska Department of Environmental Conservation, Clean Water Fund, for the <br /> sewer system improvement known as Maple Street Sewer Main Extension. <br /> Section 3. The City Manager is hereby authorized to execute any and all documents that may <br /> be necessary to reflect the $400,000 loan from ADEC, the terms of its repayment over 20 years at a <br /> rate of interest equal to 1.5% subject to bi- annual appropriations, including but not limited to an <br /> `,,,� agreement for the loan and a promissory note. <br />