229 Authorizing Incurrence For Expansion Of City HallCITY OF YELM
RESOLUTION NO. 229
A RESOLUTION OF THE YELM CITY COUNCIL OF THE CITY OF YELM 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 ITS CI'PY HALL.
WHEREAS, it is necessary for the City of Yelm (herein after called Associa-
tion) Co raise a portion of the coot of such undertaking by inuuuttcc: of it,:
bandy in the principal amount of $180,000.00 pursuant to the provisions of
RCW 39.36; and
WI1L'REAS, the Asswutlon Intends to obtain aulstunce from rho Formers Homo Adminlslntlon, Unllcd Slrtca Dcparlnlaw of Agri•
culture, (hcrem celled ale Guvenunent) acting under the provlslonn of ate Connolldated Farm and Kural Ih;vclupnncnt net (7 U.S.C.
1921 et uq.) in ale planning, fin+ulcing,,uld supervision of suds undertaking and ale purchasing of bond, Irwfully issued, in the event
that nu other acceptablu purchuur I'ur such bonds b found by ulo Anwcluuun:
NOW THL• REPORE. in consideration of the premises the Association hereby resolves:
1. To hrve prepared on !ts behalf and to adopt an ordlnartce or rewlution for the issuance of its bonds containing; such
items :old ul such forms as ore requirod by State statutes and as are agreeable and at:ceptrble lu the Cuvernnnrnt.
2. To refinance the unpaid brlance, Irt whole or in part, of its bonds upon the request of the Government if at any time
it shall appear to the Government riot the Association is able to reClnance its bonds by obtrining a loan for such purposes
from rcapunslble caulscrallvo or private sources et reasonable talcs and semis fur loans fur smlilar purposes and periods
of tune as reyuued by section 333(c) of said Ctutwlidated Farm and Rural Development Act (7 U.S.C. 1983(c)).
J. To provide for, execute, and comply whit Form FmHA 400.4, "Assurance Agreement," and For,n 1'1111iA 400.1, "Equal
Opportunity At,rcunent," Includutg an "Equal Opportunity Clause;' which clause is to be incorporrtcd in, or attrched
as a ndcr to, each construction contract anJ wbcontract involving in excess of 110,1)00.
4. To indc,nnuy ate Governrrlent for any payments made or losses suffered by the Government on behalf of the Association.
Such mdenunificrtion shall be payable from the same source of funds pledged to pay the bonds ur any other Icgal per•
miuible wurce.
5. That upon defrull in the payments of any princlprl and accrued interest on rho bonds or in the performance of any cov
rnunt or agrcenwnl conuined herein or In the lnslrumenq incident to ntukmg or Insuring the loin, the Govcnuuncnt at
us opuun may (a) declare the entice princip;u amOU11l d1C0 OUlalandYlg and al'Cfllyd IrtcfCal Ir,InICd1:IlCly duC and pay-
ablr, (b) for the account oC the Assoclauon (payable from the •source of funds pledged to pay the bands ur any other
IcgaUy permissible source), Ltcur arld pay rcawnable expenses for repau, maintenance, and operation of Unr facility and
uc,auu unuer any oulcr uutruntrnt
under any such inatrunnent nwy be
6. Nut to acll, transfer, !coax, or uuterwlse encumber the faculty or any portion thereof, or Intorat thereat, ur pcnnit other,
to du au. whho~u Ihn oriru written consent of ulc Guvcuunent.
7. Nut to dcCease'tlse bonds, or to borrow mono , enter Into any contract or agreement, or otherwise incur any habililies
lur any purpose In connection with ale facility rexclusive of normrl rnruuenance) without the p,wr written consent of the
Cuvcrrtnlent S wch undcrtaktng would Involve dte source of funds plcuged to pay the bonds.
ti. Tu place the proaeus of the bonds on deposit in anrccounl and ~in a manner approved by the Governnlrnt. Funds mry be
uepoa,ced ut irtsututions inwrod by the Salto ur Ftueeal Covernmenl ur invested in rcaduy mrrkclablc xcuriucs backcu
by the fuU IrrUt arld cwdlt of ate Untied Staten. A,ty utconw from these accounts wdl be considered as revemucs of the
system.
9. To comply with all applicable State and Federal laws and regula4uns and to continually operate and ntrintain Ifne facility
in gaud cundiron.
10. To provide for ate receipt of adequate revenues to meet the requirements of debt service, operation 'rnJ maintenance, ;md
ate rstablialment of adequate reserves. Revenue accwnulatrd Duct and above Utat needed to pay oprraung :uW n,rinre-
rnartcc, debt urwce and rens;rves may only be retained or uud to make Prepayments on the loan. Revenue cannot be uud
w pay any expenses which ue not ulrecuy tncurrcd for the facduy financed Oy FmHA, No free service or use of Ilse
faeilny will be pernutleJ,
l 1. To :require and maintain such inwrance nerd lldeUty bond coveragto as may be requucu by ulc t;uvcrruuent.
12. To cstaDliah and nlairuain such books and records relating to ate operation of the !acuity and eta I'inanciaJ al7airs:uld to
pruvlus: fur required ausht ulereuf as teyuited by ale Cuverutlcut, to provide tar Cuvcnunent r copy ul each such audit
wiuwut eta rcyucu, :utd to forward W utc Govctrwlcnt ouch udlliuunrl utfwmatiou uud reports as a unay Irunl tune to
tune require.
13. To provide the Corerrunent at all reasonable limos access to all books anJ tccords rclalirlg w ale frcility anJ access to
LI1C pfupC(ly Of Il1C ryaltln SO that the Gaverrutlertt slay aSCCrtrlrl that the Anaocr:l troll u Cnlllply log Wlth IIIC prUYlalUlla
hcreul and of ale uuuunlcnts incident to the makutg ur irtwring of the loan.
14. That if ale Coverruncnt requires anal a rcurve account be estrblislleJ old mauuauled, disbunemrents from unit account
play br uaed whin ncteaaary fur payments dun ors the bond tf sullu:ierl tondo are nut oulcrwiac available. With ulr prior
wuucn approval of ate Curcuuncnt, lands stay be wiutdtawn for:
(r) Yayulg uro cw[ of rcprirulg ur replacing any darnabc to ulc facility causcJ by catasuuphc.
(b) licpriring or replacu,g slturt•lived ,,acts.
Vic) hlaYulg cxtertsiwu or unproventcnu w tlw facility.
A,ly wuc funds arc ilisburud trout ate rescrvo uccuuut, additional dcpoaits will be required wail the rrarrve account has
reached the tayuucd funded lcvd.
1S. To provide adcyuate srnicc to aU persons wiutin Ute service area who can feasibly alld Icgrlly be xrvedrnd to obtain
F+nliA's concurrence prior to reluung new or adequate services to wch persons. Upon failure to pruv,dc xrviccs which
arc tenable and legrl, such pawn shag huro a direr, right of agion a~iiust uw Aasocutiun ur public budy~
lo. To comply wear the measures identified Lt the Guvruwicnt's ulvlru,uncnlrl impact analysis ILr uua facility 1'ur the pur-
pusc Ot rY0ldulg Or rCduCYlg utC advClae WlrlrwYllCfllal nllpaCU of l1lC lacdlly'n cunatructiun ur upcraliwl,
19. To accept a~23'lin an iunount not to exceed S S 18 0 , 0 0 0 . 0 0
under the tcrnls olTcud by the Cuvcrtuncn~; that rite 'Mayor
anJ ~ ~ ry ~ k of urn Aswciatiun urn huraby auUlorizrJ anJ empowered to takerll actiuu ncrrssrry
U( app1up11rWul dal Y!•CCYIINII ul all Writltill illatrWllrrllta Y~ Illry by IYy411Yr1 III IYua1J IV UI as vrlslvuca ul' wsh fiuul; ~unl
tU UpCfalC tht frcdrty Yoder t11C 1Cnlls pf('CfCd 1r1 sand gfalll agfCClnCnt(a).
The prurisiona hcceof and We provisions of aU Insuwuenls ulddcnl W the making ur the Usuring ul'the loan, umlcaa uthcrwiac
spccuically provided by ale leans of suds insttuntertt, shall be buldirg upon the Aawciatiwl as lung as the buuslar,c hell w
ulaurrd by ale Curcnwtcnl ur assiy,ec. The proyinitrns of ulaiun: 6 {hruuglt 17 hcrcol' may be provided fur in mute spccilic
detail in rite bond ruulutiwl 0t urdhtuncG; to utu exlutl flat rho pruviaiuns cuntaiucd iu wch baud rcwlutiun ur urdwmicc
anould be found to br ulcunsiatent wiUl ate provisions hcrcul', ulcw pruviaiuns shall bs cwnsuueil as cumuullulg bclwcen ILc
A,aauciatiun a+td the Covcrmnenl ur assignee
The volt was: YCa5 ~~~ Navs ~~~ Abu~nl
IN WITNESS WHEREOF, the Yelm City Council of the City of Yelm has duly adop-
ted this resolution and caused it to be executed by the officers below iris
duplicate onnthe 26th day of November, 1991.
~. ,2~Y ~ ~waiJ
May ~, Cityy° d't Y"elt
ATTES
~/
Shelly A. 8' gee
City Clerk
PASSED AND APPROVED: November 26, 1991
PUBLISHED (SUMMARY): December 5, 1991
CERTIFICATION TO BE EXECUTED AT LOAN CLOSING
I, the undersigned, as Mayor of the City of Yelm hereby certify
that the Yelm City Council of such Association is composed of 5 (five)
members, of whom Constituting a quorum, were present at a
meeting thereof duly called and held on the 26th day of November,1991;
and that the foregoing resolution was adopted at such meeting by the
vote shown above. I further certify that as of ,
the date of closing of the loan from the Farmers Home Administration,
said resolution remains in effect and has not been rescinded or amended
in any way.
Dated, this day of 19
Mayor, Robert A. Sanders