08/25/2015 Resolutions 2015-226 RESOLUTION 2015-226
WHEREAS,the City of Grand Island,Nebraska recognizes that a properly sized and functioning
sewer system is necessary to the health and welfare of the citizens of the City of Grand Island; and
WHEREAS,the Mayor and City Council have determined that portions of the Grand Island sewer
system are in need of significant repair and improvement, and that sewer service is needed in areas in and
around Grand Island; and
WHEREAS, funding for the cost of the repair and improvement of portions of the Grand Island
sewer system may be obtained by loans from Clean Water State Revolving Funds ("CWSRF") from the
Nebraska Department of Environmental Quality ("NDEQ"), subject to certain requirements and
obligations; and
WHEREAS,City Council approved Resolution No.2014-162 on June 10,2014,which authorized a
maximum principal amount of debt expected to be issued for Sanitary Sewer Collection System and
Wastewater Treatment Plant Improvements at $74,275,000, with debt expected to include up to
$40,000,000 in principal amount of loan funds from the Clean Water State Revolving Loan Fund program;
and
WHEREAS,City Council approved Ordinance No.9493 on July 29,2014(the"Ordinance")giving
foluial approval to the NDEQ borrowing in a principal of not to exceed $40,000,000, which Ordinance
requires that each NDEQ Note and NDEQ Contract(as such terms are defined in the Ordinance) entered
into with respect to such amount be approved by resolution of the City Council prior to execution and
delivery thereof; and
WHEREAS,the execution of the contracts for loans,in the total amount of$7,000,000.00,between
the NDEQ and the City designated as Project No. C317867(the"Non-Green Contract"),in the amount of
$6,000,000 and Project No. C317981 (the"Green Contract"; and together with the Non-Green Contract,
the"NDEQ Contracts"),in the amount of$1,000,000 were approved by Resolution 2014-273 adopted by
the City Council on September 9, 2014, and the Contracts were executed and delivered to NDEQ on
September 12, 2014; and
WHEREAS,On March 10,2015 City Council approved Resolution No.2015-68 which gave approval
for the City to amend the Green Contract and increase the borrowing amount from$1,000,000 to$29,000,000,
thereby bringing the total amount of the loans under the contracts to a drawable amount of$35,000,000
pursuant to Ordinance No. 9493; and
WHEREAS, the City and NDEQ propose to amend the "Non-Green" loan contract known as
Project No. C317867 from $6,000,000 to $6,200,000 with the Nebraska Department of Environmental
Quality(NDEQ)with an interest rate on such loan of 1.50%with a teiut of 20 years; and
WHEREAS,the City and NDEQ also propose a new loan,in the amount of$4,800,000 known as
Project No.C317984,which involves the construction of the sanitary sewer collection system improvement
project associated with Westwood Park Subdivision and rehabilitation of Lift Station#20 force main with
an interest rate on such loan of 1.5% with a term of 20 years; and
Approved as to Form a dlPx
August 24,2015 a City•' • ey
WHEREAS,NDEQ has proposed a foal'of amendment to the"Non-Green" contract to increase
--. the principal amount of the loan thereunder,which amendment is in the form of Amendment No. 1 to Loan
Contract between NDEQ and the City for NDEQ Project No.C317867(the"Amendment No. 1"),which is
incorporated by reference into this Resolution as if fully set forth herein; and
WHEREAS, NDEQ has proposed a new loan contract in the principal amount of$4,800,000 for
NDEQ Project No. C317984, which is incorporated by reference into this Resolution as if fully set forth
herein.
NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF
GRAND ISLAND, NEBRASKA, that the form of Amendment No. 1 between the City and NDEQ is
hereby approved; and
BE IT FURTHER RESOLVED that the loan contract in the principal amount of$4,800,000 for
NDEQ Project No. C317984 is hereby approved; and
BE IT FURTHER RESOLVED,the Mayor, City Clerk, and City Treasurer are hereby directed to
execute and deliver Amendment No. 1, the loan contract for NDEQ Project No. C317984, and all other
documents, certificates and instruments necessary to facilitate the loans evidenced by Amendment No. 1
and the Contracts between NDEQ and the City for the purpose of repairing and improving the City of
Grand Island sewer system; and
BE IT FURTHER RESOLVED THAT the Mayor, City Clerk, and City Treasurer, be authorized
and directed to sign all necessary documents,to furnish such assurances to the State of Nebraska as may be
required by law or regulations, and to receive payment on behalf of the applicant.
Adopted by the City Council of the City of Grand Island, Nebraska, August 25, 2015.
Alk ter ° al...
Jere % . J; se �`, for
Attest:
OrAP . t .„,g).,.....9. .....
RaNae Edwards, City Clerk
- 2 -