Res 10-587RESOLUTION NO. 10-587
A RESOLUTION of the City Council of the City of Federal Way,
Washington, to Borrow or Guarantee monies under the State Energy
Program — American Recovery and Reinvestment Act (ARRA) of 2009.
WHEREAS, the City Council of the City of Federal Way authorized City Staff to seek
federal stimulus monies for energy improvements; and
WHEREAS, on September 1, 2009, the City Council of the City of Federal Way authorized
Staff to apply for a State loan under the State Energy Program ("SEP") in the amount of $323,000 for
energy improvements; and
WHEREAS, the City determined that the SEP loan amount would be used to improve energy
conservation at City Hall; and
WHEREAS, on June 3, 2010, the State Energy Program notified the City that it was eligible
to receive $323,237 as a loan to fund energy improvements at City Hall provided that the necessary
documents were executed no later than June 25, 2010;
WHEREAS, a resolution setting forth the City's intent to borrow $323,237 and make
payments as set forth in the necessary documents; and
WHEREAS, the City Council of the City of Federal Way finds that it is in the best interest of
the citizens to enter into the SEP loan agreement to provide for energy improvements at City Hall.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
RESOLVES AS FOLLOWS:
Section 1. To borrow from the State Energy Office, State Energy Program ("Lender"), on
such terms as may be agreed upon between the officers or employees and Lender, such sum or sums
of money as in their judgment should be borrowed.
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Section 2. To execute and deliver to Lender the promissory note or notes of the City, on
Lender's forms, at such rates of interest and on such terms as may be agreed upon, evidencing the
sums of money so borrowed or any indebtedness of the City to Lender, and also to execute and
deliver to Lender any renewal or renewals of the notes, or any of them, or any part thereof.
Section 3. To execute and deliver to Lender the form of pledge agreement, security
agreement, and financing statement which may be submitted by Lender, and which shall evidence the
terms and conditions under and pursuant to which such pledges, or any of them, are made; and also
to execute and deliver to Lender any mortgages, deeds, trust indentures, or other instruments in
writing, or any kind or nature, which may be necessary or proper in connection therewith, or
pertaining thereto.
Section 4. To do and perform such other acts and things and to execute and deliver such
other documents as may in their discretion be deemed reasonably necessary or proper in order to
carry into effect any of the provisions of these Resolutions
Section 5. Severabilitv. If any section, sentence, clause or phrase of this resolution should be
held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or
unconstitutionality shall not affect the validity or constitutionality of any other section, sentence,
clause or phrase of this resolution.
Section 6. Corrections. The City Clerk and the codifiers of this resolution are authorized to
make necessary corrections to this resolution including, but not limited to, the correction of
scrivener/clerical errors, references, resolution numbering, section/subsection numbers and any
references thereto.
Section 7. Ratification. Any act consistent with the authority and prior to the effective date
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of this resolution is hereby ratified and affirmed.
Section 8. Effective Date. This resolution shall be effective immediately upon passage by
the Federal Way City Council.
Section 9 . Revocation This Resolution shall remain in full force and effect until written
notice of the revocation thereof shall have been delivered to and received by Lender. Any such notice
shall not affect any agreements in effect or committed at the time notice is given.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON this 15 day of June , 2010.
CITY OF FEDERAL WAY
r
M OR, LINDA CHMAR
ATTEST:
'
,
CITY CLERK, CA L EILLY, CMC
APPROVED AS TO FORM:
..�-� -
C Y ATTORNEY, PATRICIA A. RICHARDSON
FILED WITH THE CITY CLERK: 6/8/2010
PASSED BY THE CITY COLTNCIL: 6/15/2010
RESOLUTION NO.: 10-587
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