HomeMy WebLinkAboutResolution 2009-163 loan application from the Water Infrastructure Finance Authority of ArizonaMARANA RESOLUTION N0.2009-163
RELATING TO FINANCE; AUTHORIZING THE APPLICATION FOR A LOAN FROM THE
WATER INFRASTRUCTURE FINANCE AUTHORITY OF ARIZONA OUT OF THE STATE
OF ARIZONA'S ALLOTMENT OF DRINKING WATER STATE REVOLVING FUND TO
FINANCE CERTAIN WATER PROJECTS
WHEREAS the Town Marana has identified a need for a water capital improvement
projects; and
WHEREAS pursuant to Arizona Revised Statues §§ 9-521 through 540, and specifically
A.R.S. § 9-571, the Town of Marana may obligate the revenues generated by its water user rate
revenues, development fees or other appropriate sources to repay a loan from the Water
Infrastructure Finance Authority of Arizona (WIFA); and
WHEREAS the Town of Marana certifies that the population of the community according
to the most recent United States census data is 26,098, which meets the criteria under A.R.S.
§ 9-571 for entering into and performing a financial assistance loan repayment agreement with
WIFA without submitting the question to the qualified electors of Marana; and
WHEREAS the Mayor and Council of the Town of Marana feel it is in the best interest of
the public to pursue and apply for financial assistance from WIFA out of the State of Arizona's
Drinking Water State Revolving Fund (DWSRF) Appropriation in an amount not to exceed
$5.25 Million.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
TOWN OF MARANA, ARIZONA, AS FOLLOWS:
SECTION 1. The Public Services General Manager or Finance Director are authorized
and directed to submit an application to WIFA for DWSRF financial assistance on behalf of the
Town of Marana.
SECTION 2. The Town Manager, Assistant Town Manager, Finance Director, or Public
Works Director are each authorized to take such actions as are necessary to apply for DWSRF
financial assistance in an amount not to exceed $5.25 Million payable from water user rate
revenues, development fees or other sources, as appropriate.
SECTION 3. All actions of the officers and agents of the Town of Marana which conform
to the purposes and intent of this resolution and which further the completion of the application
as contemplated by this resolution, whether heretofore or hereafter taken, are hereby ratified,
confirmed and approved. The proper officers and agents of the Town of Marana are hereby
authorized and directed to do all such acts and things and to execute and deliver all such
Resolution No. 2009-163 - 1 - WIFA Loan Authorization
application documents on behalf of the Town of Marana as may be necessary to carry out the
terms and intent of this resolution.
PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF
MARANA, ARIZONA, this 15th day of September, 2009.
~~,~~1~tT~ ~~~~~
~F.~~ti~~nnes~
F•~Ct9#tPORAfF~+ °~°
~.
ATTEST:
~g~'~~°a~f2 s1~~p~®®®~
C. ~>ubnson, Town Clerk
APPROVED AS TO FORM:
:~~'
.Frank Cassidy, Town Attorne
~-
~, ~;..
Mayor Ed Honea
Resolution No. 2009-163 - 2 - WIF'A Loan Authorization