191 Public Works Trust Fund ProgramRE'SOI.UTION ND. 191
WHEREAS, the Town of Yelm is applying to the Washington State Public
Works Trust Fund Program for g low-interest loan for an eligible project;
and
Wf-IEREA.S, it is necessary that certain conditions be met as part of the
application process; and
WHEREAS, RCW 43.155.070 requires that county and city applicants must
have adopted the local optional one-quarter of one percent real estate
excise tax, as described in Chapter 82.46 RCW; and
WHEREAS, RCW 43.155.170 requires that applicants must have adopted a
long-term financing plan for public works; and
WHEREAS, RCW 43.155.160 requires that the project will be advertised
for competitive bids and administered according to standard local procedure;
and
WHEREAS, the loan will not exceed 900 of eligible costs incurred for
the project; and
WHEREAS, any loan arising from this application constitutes a debt to
be repaid, and the Town of Yelm has reviewed and concluded it has the
necessary capacity to repay such a loan; and
N04V THEREFORE, the Town of Yelm certifies that it meets these requirements,
and further, that it intends to enter into a loan agreement with the
Department of Community Development, provided that the terms and conditions
for a Public Works Trust Fund loan are satisfactory to both parties.
Mayor Ronald G. Lawton
June 22, 1988
Passed and approved by a majority vote of the Yelm Town Council at the
continued regular meeting of June 8, 1988 held on June 22, 1988.
..~, ATTEST :
~,d i~~
Richard A. Patrick
Yelm Clerk/Treasurer