2023-27 - Water Supply Revolving Loan Account Agreement

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Baker, Bullock, Kepple, Litten, RESOLUTION NO.2023-27 Marx, Rader, Shachner A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, permitting the Mayor, Director of Public Works, Finance Director and Purchasing Manager to apply for, accept, and enter into a Water Supply Revolving Loan Account ("WSRLA") Agreement on behalf of the City of Lakewood for the construction of the 2023 Watermain and Lead Service Line Replacement Project ("Water Facilities"); and designating a dedicated repayment source for the loan. WHEREAS, the City of Lakewood seeks to upgrade its watermain infrastructure; and WHEREAS, the City of Lakewood intends to apply for a Water Supply Revolving Loan Account for the construction of the Water Facilities; and WHEREAS, the Ohio Water Supply Revolving Loan Account requires the government authority to pass legislation for application of a loan and the execution of an agreement as well as for designating a dedicated repayment source; and WHEREAS, as set forth in Section 2.12 of the Third Amended Charter of the City of Lakewood, this Council by a vote of at least two thirds of its members determines that this resolution is an emergency measure and that it shall take effect immediately, and that it is necessary, for the immediate preservation of the public property, health, and safety and to provide for the usual daily operation of municipal departments in that application for this program is due June 1, 2023; now, therefore, BE IT RESOLVED BY THE CITY OF LAKEWOOD, OHIO: Section 1. That the Mayor, Public Works Director, Finance Director, and Purchasing Manager be and are hereby authorized to apply for a WSRLA loan, sign all necessary documents, and enter into a Water Supply Revolving Loan Account with the Ohio Environmental Protection Agency and the Ohio Water Development Authority for construction of watermain infrastructure on behalf of the City of Lakewood, Ohio. Section 2. That the dedicated source of repayment will be the Water Fund 501. Section 3. It is found and determined that all formal actions of this Council concerning and relating to the passage of this Resolution were passed in open meetings of this Council and that all deliberations of this Council and any of its committees that resulted in such actions were in meetings open to the public and in compliance with legal requirements. - Section 4. This resolution is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City and for the usual daily operation of the City for the reasons set forth and defined in the preamble to this ordinance, and provided it receives the affirmative vote of at least two thirds of the members of 053