RES 98-04 APPROVAL OF LOAN AGREEMENT TO CONSTRUCT DECANT FACILITYRESOLUTION NO. 98-04
A RESOLUTION of the City of Bainbridge Island, Washington,
accepting the offer and approving a loan agreement with the State
Depadment of Ecology, to construct a Decant Facility.
WHEREAS, in an effort to continue to enhance the environment, the City Public Works
Department had identified the need for a permanent Decant Facility, and
WHEREAS, the Department applied for a State Department of Ecology (DOE) grant/loan, and
WHEREAS, in September 1997, DOE notified the City of an offer of up to $200,000 for a loan
term of five years at zero percent interest, and
WHEREAS, having been advised by DOE we were on their Final Intended Use Plan, the City
Department of Public Works budgeted for such funding in the FY 1998 Budget, and
WHEREAS, a standard DOE form Agreement is required to formally approve of such loan, and
which must be approved by City Council by Resolution.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON,
DOES RESOLVE AS FOLLOWS:
Section 1.
Approve acceptance of the DOE Decant Facility loan for up to $200,000
for a loan term of five years at zero percent interest.
Section 2. Aufhorize fhe Mayor fo execufe relafed documenfs
PASSED by the City Council this
APPROVED by the Mayor this
5th day of March , 1998.
[Oth
day of Mar ch ,1998.
Mayor
File - wab\agenda\ decant.doe.R98-04 01/12/98
A 'FI'EST/A UTH ENTIC ATE:
Susan Kasper, City Clerk
FILED WITH THE CITY CLERK:
PASSED BY THE CITY COUNCIL:
RESOLUTION NO.: 98-04
February 27,
March 5, 1998
1998
File - wab\agenda\ decant. doe.R98-04 01/12/98