HomeMy WebLinkAboutOrdinance 1678ORDINANCF. NO. ~1.g7R
AN ORDINANCE AUTFTORI7ING THE CITY OF CENTRAL POINT TO
ENTER IN'.PO A LOAN AGREEMENT WITH THE
OREGON ECONOMIC DEVF,T_~OPMENT DEPARTMF,NT FOR
FT.INDS TO CONSTRUCT A MUNICIPAL WATER RESERVOIR
THE PEOPLE OF THE CITY OF CENTRAL POINT DO ORDAIN AS
FOLL,OW5:
Section 1. The City of Central Point i.s he-r_eby authorized
to enter. into the foll.owi.ng contracts, in the foam a.ttac:hed
hereto and by this reference incorporated herein, with the State
of. Oregon, through its Economic Development Departrent:
1. State of Oregon Special Public Wor]cs Fund Financial
Assi.stanc:e Award contract; and
2, Loan agreement between State of Oregon, acting by and
through its Eco7.xomi.c Development Department a.nd tkze City of
Centa:al Point, Oregon, a muni.ripal corporation.
Section 2. The City of. Central Point, through i.ts
appropriate representative in the particular case, i.s hereby
authorized to execute the following additional documents, in the
form att:achecl hereto and by this referenr..e incorporated herein,
in connection with the two contracts set forth above:
1. Transr,ript certification;
2. Certification as to incumbency;
3. Signature and non-litigatioz~r rertifi.cate;
4. Tax certifi.cat.e:
5. Opinion. of municipal counsel; and
6. Promissory Note.
Section 3. In accordance with ORS 285.77.3{3}, this
ordinance is being adopted eaith not less than 1.4 days prior
notir.e published at ].east oxzce in the newspaper of general
c.:i.rculation within Central Point.
Section 4. An emergency is hereby declared to exist. The
nature of tkxe emergency is that the loan agreements and related
documents must be executed immediately i.n order to ensure that
t:he loan from the Oregon Economic Development Department i.s
avai].a.ble. Based upon such emergency, this ordinance shall
]. - ORDINANCE NO. 1678 (092492)
become effective immediately upon passage. ;a'oz- the same z:eason,
the City Council hereby waives full reading and waives second
r.cadirag of this ordinance.
Passed by the Counci.t. and ~9.gned by me i.n authent:ir,ati.on of
its passage this Jg?~' d.ay of `~/~~~.~,c ~ 1992.
i
May Roger Westensee
Z~TTEST
City Re ~esentativ~
Approved by me this ~~ay of /~x~~+•~~f ~ 7.992.
Ma.y r. Roger Westensee
2 - ORDINANCE NO. X678 (092492)