HomeMy WebLinkAboutCC Reso No 1978-37USDA-Fmf LA
Form rmHA 4h2-47
(Rev. 4-9-76)
; -A RESOLiIT'ION O~' THr, -~---
nosiriora 5
LOAAI R~,S{3LiTTION 7e-3~
(?ublic Bodiesj
OF TIIE ----~.~`.PX_..QE'__LiAL{~_.~7aaI~LQRF.~ -------_ ------ ---------------------- - -- -----------------
1~ti~I-IORI7ING ANB PROVIDI~IG FOTZ T'rIE iNCUR12ENCE OE INDEBI'EDIVBSS F4R.THE YURPOSE; QF
~'ROV IDIiti'G A`~ORTION OF THE COST OF ACQUISZING, CONSTYCiCTING, ENLAIZGING, II~PROVING, AND)OP.
EXTENDi.IG ITS --------[^7~TF~k3...fiXS_TE,~I ---°--------- -- -- ----- --------- ---- ---- ---- ~----- -- --.,.---
FACILtTY'i'O S~RFIE l~A1 AREA Lt~3rVFULLY WiTHIN ITS 3URIDIC't'I02~ 3'0 S~ RWE.
City__COUnci_1__of_'the_ City_:of Lake Elsinore,.,__....___. ._._
WHERE.`aS, ii is necessary for the ----- (~blic Body)
{'terein after called association) Lo raise a portion o£ ihe oost of such undertaking by issuance of its bonds in the priacipal
dmoiintof--------~~k~__F3?kT141red__dAa..~933~--`,~Y1PL.LSr~S,ta--I~A~~,.c"L~S- ~ --------~ ----------------------------•--- .~ ~.
piusuanttotheprovisionsof--• the C:onsolidated Farm__and_Rural_D.~yelopment_~ct.__...__,_,
(7 U.S.C. 1921 et. seq.)
1V:i~REAS, the association intends to obtain assistance from :he Farmzrs Home Administration, United States Departnent
of Agricuiture, (herein called the Gove~nment) actingvndex the provisions oi th2 Consoliclaied Farm and Rural D°velopmen?
Act {7 U.5.C.1921 et seq.) in the planning, financing, and supervision of stich undertaking and to purchasing of bonda,
law£ully issuzd, in the event that no o±her acceptable purchaser for such bonds is found 'oy the association:
ArQW TftEREFORE, in consideration of the premises the association hereby resoives:
i: To have prepared on its benalf and to adopt an o3dinance or resolution for the is,uance o£its oonds and containino
such i`ems and in such forms as are reqiri*ed by STATE sta:utzs and as are agreeable and acceptable to £ne
Government.
2 To refinasice the Lmpaid balance, in who:e or in part, of its bor.ds upon the request of the Government if a2
any time it shall appear to the Government thai the association ;s abte to reEqance its bonds by obtaining a lo~r.
fox such pur{~oses from resoorisibie coo~Zrative ox private socrces at reasonab;e rates and !erms fer loans for similac
~ ~ purposes and pariods of ~timz as required by section >3~{c) of said Consoiidat~d `r'arm and Rural Developnen4 Ac2
(7 U.S.C. 1983(c)).
3.~ 'Po ptovide for, execute, and eomply with. Form Fmf7A 400A, "Nondiscr:mination Agteement' ; and For.m
FxnNA 400-1; "Equal Oppo~tuttiiy Agreema~t", +.ncluding an "Equal Ooportunity Clause", wnich c9anse ;s to be in-
~ ~ corporated in, or attachzd as a ridzr to, each construc.ian contract and subconhact involving in excess of $S O,G00. ~
~~, ?o indanr~Fy the ~o~emment f~;r any payme~'s rr.ada cr 'o~se; suiEered by the C~o4ecnment on b~l?aiF ~ f the
a;.;ociatiun. Sueh inciemnific~tio,t ,halt be psya.ble fiorri tl e samz sou~ca oi founds plea~~d to pdy the bon ~s oi ~r.y
~ ~ other legal?y pe*missable source: ~ ~ ~ . ~ . ~ ~
5.. :.iai ~if~<<. dzPault ~n the payments of ariy ~r~ici,~al ar.d zccrued interest on',iie ben~ ~ or in the pe~~oi i-~.. ic of a,=ry
crn~~nxnt or agre,;;*ier.t cortained h°CCir. or itt .he ias`run~ents inci~lant ;~ mak~n~ ne't.*asurit~g li~e 1uan, tl;e i.overr.ment,
. ar its o:~uoa~ ritay (a) ~°eclaie ±hc ::~tira prvicipai an~~i-~i i?len „ ~t,.~.d~-~; ic U atcz-ued mic~es; im~re iately '.i ancl
i.3}. ,~ ~>> frr the a.,count o~ rh ,~oota ion (~ ,y ~bi f o n r'~.- s~u~~~ a~ 'u~ ~s 1..d- r o~ y'he bo~ic'-. ~ any
,1;..;. le~ ; y~xms~ab'.s scue~,eo~ ._,a~r &~_a p~-y reas~na~._ ,;xp_ ~ato fo. *_ ~~ x, m.t.~i~..n_u..., a t' ope_aCion ~. t?~e
.. f uli~~ ~. . 1~ ~~~ 1~~ i iso~~ r- e.r,e, s s m'ay. be nacess~r.~ to cure 're ;a~ase ~f d~ iiu~ ~~,n: ~) 1..._~:
~ t, ~, z,_>~w~. of the fa:.il+ty , r:.pav, x.i+i, taia, ~n1 operate tir r°nC rt. L'e~au~t i..~..r r.:ie; row.s~ai.. cf ~hia .~csolu~ ~n o.
~~ ~~ ins~r i . i~~cid~nt to tbe u~d' v o cnsviin~ of The losn m~y bP or ~ i ' bv th {' ~+ ~nme~it ~..oret hi~e
. c.~, ~.~Ie c~~.-; .,.~ u"Lar,c~stnr-~„_,tlt.,i~~~yth~ :o~ernme~'nn~..,:.cv-~ ~ ~,n.~s.a,?~;'~'_~.~soc„i~:~~.-,3n:~d._eu~:
~ i:~er x,1 h i~is~trument mu/ b~ ro~;sinaed by ihe Gc, e_n,~ ~r,i t. cnsti.L~ i-`eu'_E r~ !'-:..c.
;,. .-.s to s... tT~,;ir<.~, l~a.~a, or o~n ;U~_se incur~ibar the faul~r~ o ~_Y. corY!~n thereo~. ~. ~,te,est't~ ., .T~, sau ;.r_~~ii
~ ~'~:u, tr...'o so, w± 1 ,>i,~. ~.."p~~~ ~. .itcn ~ -~ ~.:it of i ~~~•e,~ ient, . . .
. . , ~v~: _: n. ~.~r.v a~ ~aoney .`~o~ - a..~ ~o~,..,~., ~~t.F into a~,y c. .~:«~.. ~ :,T ^ . . _ ~a~.<_ ; r,~ ~ ~ ,. . _i:.; i , A,, .
, .,o ~,ir: t..o., w~~t r~r.,u,~ enl,s~~ ~n~:i,..,, -;r-_~~ tiep„n'~ w: a. tens~.,~~s .~, o~ ~. .~~~ ~ ~t ~e. ~ ir~,o:;r _.i ~c,r.ne~ ~ i.'e .
~ ~.--. fs.~. i. exelvvc:, r s" ncv, ~sl ~~..~;r e~.a~ ~ ; ,.; .p~.t tt~~ r u ~;ri.` , <rz...:c= . !~. .l~:z L ~t ,c. ~:-- ' -,-
,
_' .l..ii., t /'p..~: a... ~i.~ .,t.. ._ ~i . ~ _ ~.. , . , ;... .~. . ~
~ ~ . ~.. . -> '- .. . . ... ~ ...
... , , , t ~ , .,.... u ~ . ~ . i: .. ~ . . . ~ ... _ . . .. :i , r i , :i~ , < < ,. ,...,,. , f , .: [l ~ ~ '
~
~,,. . r .._ . ,