HomeMy WebLinkAboutCC Reso No 1977-52RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF LAKE ELSINORE ACCEPTING AN OFFER
BETWEEN THE UNITED STATES DEPARTMENT OF
AGRICULTURE, FARMERS HOME ADMINISTRATION
FOR A LOAN UNDER THE COMMUNITY FACILITIES
LOAN PROGRAM EMERGENCY nROiJGHT RELIEF
PROGRAM AND OF 'APPROVTNG LOAN AGREEMENT
SETTING FORTH THE TERMS AND CONDITIONS
OF THE LOAN.
WHEREAS, the United States Department of Agriculture,
Farmers Home Administration (herein "Government") has sub-
mitted to the City Council of the City of Elsinore (herein
the "City") an offer to make a loan of up to $356,800 in
order to aid in financing the acquisition, construction and
completion of water system improvements for the City; and
WHEREAS, the City Council of the City desires to accept
said Offer and to enter into a loan pursuant to the terms
and conditions set forth in the Loan Agreement; and
WHEREAS, the District is authorized pursuant to Section
359 of the Water Code of the State of California to enter
into such a loan upon an affirmative vote of four fifths (4/Sths)
of the City Council of the City;
NOW, THEREFORE, City Council of the City of Lake Elsinore
does hereby determine, order and resolve as follows:
SECTION 1. The Offer of the United States Department of
Agriculture, Farmers Home Administration, Community Facilities
Loan Program, Emergency Drought Relief Program dated
1977, offerinq to loan the City of Elsinore up to $356,800 pur-
suant to the terms and conditions set forth in the Loan Agree-
ment of which the Offer is a part is hereby accepted.
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SECTION 2. The Offer attached hereto together with the
General Conditions, being Exhibit "A" thereof, the Special
Conditions, being Exhibit "B" thereof, the Contract Specifica-
tions attached thereto as Exhibit "C" and the Loan Resolution,
Resolution No. ~~_5~ of the City Council of the City
adopted on November 28, 1977, shall constitute the Loan Agree-
ment. The City hereby approves the Loan Agreement and adopts
all terms and conditions set forth in the Loan Agreement as the
terms and conditions for the issuance of the Emergency Drought
Relief Repayment Contract set forth in Exhibit "C" of the
Offer.
ADOPTED~ SIGNED AND APPROVED th1S ~~lday Of Nn~~amhpr ~
1977.
( SEAI,1
ATTEST:
~~ ~ ~/ `7~~~~ ~~/~
City Clerk of the City of
Lake Elsinore
-Z-
STATE OF CALIFORNIA )
) ss
COUNTY OF RIVERSIDE )
I, FLORENE MARSHALL, City Clerk of the City of Lake
Elsinore, do hereby certify that the foregoing resolution
was duly adopted by the City Council of said City at a
regular meeting of said City Council on the 28th day of
November , 1977,and that it was so adonted by the
following vote:
~ AYES: COUNCILMEN: Torn, Crowe, Carter, DePasquale.
NOES: COUNCILMEN: -NONE-
ABSENT: COUNCILMEN: Harris.
~ ~ << ~ ~r~-~~~ ~ ~ ~
FLORENE MARSHALL, City Clerk
o£ the City of Lake Elsinore
{SEAL)
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STATE OF CALIFORNIA )
)ss
COUNTY OF RIVERSIDE )
I, FLORENE MARSHALL, City Clerk of the City of Lake
Elsinore, do hereby certify that the above and foregoinq is
a full, true and correct copy of RESOLUTION NO. ~~_52
of said City Council, and that the same has not been amended
or repealed.
DATED: November 29 ~ 1977.
~ ~ ~~ - J~i-.r-z~r-~.~ ~/ ~~%
FLSRENE MARSHALL, City Clerk
of the City of Lake Elsinore
(SEAti)