The URL can be used to link to this page

Home My WebLink AboutResolution 19-82 Position j USDA-FinflA c� Form Fntfi:l 442-47 LOAN RESOLUTION (Rev.4-9-76) (Public Bodies) RESOLUTION NO. 19-32 --- Board of Directors A RESOLUTION OF THE -------------------------- OF THE Atascadero County Sanitation District -------------------- --------------- AUTHORIZING AND PROVIDING FOR THE INCURRENCE OF INDEBTEDNESS FOR THE PURPOSE OF PROVIDING A PORTION OF THE COST OF ACQUIRING,CONSTRUCTING,ENLARGING,IMPROVING,AND/OR EXTENDING ITSse:aa e treat^nent facilities ==------------------------ — — -------------- FACILITY TO SERVE AN AREA LAWFULLY 1VITHIN ITS JURIDICTION TO SERVE. Board of Directors ` WHERE.AS,it is necessary for the ------------------------------------------------------------------------------------------------------------------------------------------- (Public Body; (herein after called association) to raise a portion of the cost of such undertaking by issuance of its bonds in the principal amount of S1,300,000 pursuant to the provisions of the__Revenue_Fond Lasa of 1941 and the Revenue Bond Election of November 7, 1978. -------------------------------------------------------•---------- W IEREAS, the association intends to obtain assistance from the Farmers Home Administration,United States Department of:Agriculture, (herein called the Government)acting under the provisions of the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) in the planning, financing, and supervision of such undertaking and to purchasing of bonds lawfully issued, in the event that no other acceptable purchaser for such bonds is found by the association: NOW THEREFORE, in consideration of the premises the association hereby resolves: 1. To 1,.;e prepared on its behalf and to adopt an ordinance or resolution for the issuance of its bonds and containing such items and in such forms as are required by STATE statutes and as are agreeable and acceptable to the Goernnnent. 2. To refinance the unpaid balance, in whole or in part, of its bonds upon the request of the Government if at any time it shall ap;,.:ar to the Government that the association is able to refinance its bonds by obtaining a loan for such purposes from responsible cooperative or private sources at reasonable rates and terms for loans for similar purposes and periods of time as required by section 333(c) of said Consolidated Farm and Rural Development Act (7 U.S.C. 1983(c)). 3. To provide for, execute, and comply with Form FmHA 400-4, "Nondiscrimination Agreement"; and Form FmHA 400-1, "Equal Opportunity Agreement", including an "Equal Opportunity Clause", which clause is to be in- corporated in, or attached as a rider to, each construction contract and subcontract involving in excess of S10,000. 4. To indemnify the Government for any payments made or losses suffered by the Government on behalf of the association. Such indemnification shall be payable from the same source of founds pledged to pay the bonds or any other legally perrnissable source. �s 5. That upon default in the payments of any principal and accrued interest on the bonds or in the performance of any covenant or agreement contained herein or in the instruments incident to making or insuring the loan, the Government, at its option may (a) declare the entire principal amount then outstanding and accrued interest immediately due and P (b) for the account of the association (payable from the source of funds pledged to pay the bonds or any other lel ally penuissable source) incur and pay reason;tble expenses for repair, maintenance, and operation of the facility and such other reasonable expenses as may be necessary to cure the cause of default, and/or (c) take possession of the facility, repair, maintain, and operate or rent it. Def:i:,ilt tinder the provisions of this Resolution or any instrument incident to the making or insuring of the loan may be construed-by the Government to constitute default under any other instrument hold by the Governtile lit and executed or assumed by the association,and default under any such instrument may he construed by the Government to constitute default hereunder. 6. Not to soil, transfer, lease, or otherwise encumber the facility or env portion thereof,or interest therein,not permit Others to do so,without the prior written consent of tine Government. 7. Not to borrow any money from any source, enter into any contract or agreemont, or incur any other liabilities in connection with makine enlarnements, fill protiennents or extensirns to, or fur :nty other purpose in connection with the facility (exclusive of normal maintemul,:0 without the prior written consent of the Government if such undertaken, would involve the source of funds pled,cd to pay the bonds. S. To placo the proceeds of the bonds on deposit in an account,in a bank,and in a mamter approved by the Govertunent. FmI1:1 442-17 (Rov.4-9-76) l 9. To comply with alllicable State and Federal laws and re ulation a g nd to continually operate and maintain the facility in good condition. 10. To provide for the receipt of adequate revenues to meet the requirements of debt service,operation and maintenan and the establishment of adequate reserves.No free service or use of the facility will be permitted. 11. To acquire and maintain such insurance coverage including fidelity bonds as may be required by the Government. 12. To establish and maintain such books and records relating to the operation of the facility and its financial affairs and to provide for required audit thereof in such a manner as may be required by the Government,to provide the Government without its request, a copy of each such audit, and to make and forward to the Government such additional information and reports as it may from time to time require. 13. To p1rovide the Government at all reasonable times access to all books and records relating to the facility and access to the property of the system so that the Government may ascertain that the association is complying with the provisions hereof and of the instruments incident to the making or insuring of the loan. 14. To serve any applicant within the service area who desires service and can be feasibly and legally served, and to obtain the concurrence of the Farmers Horne Administration prior to refusing service to such applicant. Upon the failure to provide such service which is feasible and legal such applicant shall have a direct right of action against the association under this agreement. The provisions hereof and the provisions of all instruments incident to the making or the insuring of the loan,unless otherwise specifically provided by the terms of such instruments, shall be binding upon the association as long as the bonds are held or insured by the Government. The provisions of sections 6 through 13 hereof may be provided for in more specific detail in the bond resolution or ordinance; to the extent that the provisions contained in such bond resolution or ordinance should be found to be inconsistent with the provisions hereof, these provisions sliall be construed as controlling as between the association and the Government. 4. The vote was: Yeas -------------; Nays --------------- ; Absent ------------ — . Board of Directors IN \VIT\ESS WHEREOF, the - - - - --- - --- ---------------------------------------------------------------------------------------------------- of the Atascadero County Sanitation District - -------------------- – – – – — – ------------------------------------- has duly adopted this Resolution and caused it to be executed by the officers below in duplicate on this -101h_ day of -----------May-------------------------- 19 –82- . Atascadero Cunty Sani ati`9n District -- -- ---------------------------------- ---- -------------- ROBERT J.1�WILI:INS, JR. Atte Title _.__president - — - - MUR L. iARDEN rSecr tar Title ---------------------------y------------------------------------------------------ ' CERTIFICATION 1, the undersigned, as ---Secretary Atascadero County Sanitation Distric- gof the -- ----- – – – – _--------------------------------------------- •' Board of Directors District hereby certify that the --------------------------------------------------------------------------------------------- of such5iriis composed of ----------- members, of whom ----------4 ---------- , constituting a quorum, were present at a meeting thereof duly called and held on the --_._10th day of ----------May -------------------- 19 82_- ; that the foregoing resolution was adopted at such meeting by the vote shown above; and that said resolution has not'been rescinded or amended in any way. Dated, this ---12th-------------- day of ------May -- -- -- -- > 19 82 – ___ – – --- – – ------------ M RAY WARDEN C.S.GP0:1976-0-665-664/2243 = Title --- �x_e Yy� w_— --- – --- ---- –