A Resolution of the City Council of Homer, Alaska Authorizing the City Manager to Accept and Appropriate American Recovery and Reinvestment Act Funding (ARRA-Stimulus Bill) in the Form of a Loan (90% Forgiven Upon Purchase)in the Amount of $145,355 for the Purpose of Purchasing a New Vacuum Sweeper. City Manager.
CITY OF HOMER
City Manager/Public Works Director
A RESOLUTION OF THE CITY COUNCIL OF HOMER, ALASKA, AUTHORIZING THE CITY MANAGER TO ACCEPT AND APPROPRIATE AMERICAN RECOVERY AND REINVESTMENT ACT FUNDING (ARRA-STIMULUS BILL) IN THE FORM OF A LOAN (90% FORGIVEN UPON PURCHASE) IN THE AMOUNT OF $145,355 FOR THE PURPOSE OF PURCHASING A NEW VACUUM SWEEPER.
WHEREAS, The American Recovery and Reinvestment Act (ARRA) contained funding that was directed to the Clean Water State Revolving Fund (CWSRF) and the City submitted an application for CWSRF funding to purchase a new street sweeper; and
WHEREAS, The Alaska Department of Environmental Conservation (ADEC) notified the City that its initial street sweeper application had been approved using ARRA funds and the funding offered was in the form of a loan in the amount of $100,000, 90% of which will be forgiven if the City successfully completes the project; and
WHEREAS, the City Council has already approved the acceptance and appropriation of ARRA funding in the amount of $100,000 for the purchase of the sweeper; and
WHEREAS, the actual cost of the sweeper was $145,355 and additional ARRA funding is available to cover the actual costs of the sweeper purchase.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Homer, Alaska, authorizes the City Manager to execute the loan agreement for the purchase of a vacuum type sweeper in the amount of $145,355; 90% of which will be forgiven when the City successfully completes the purchase.
PASSED AND ADOPTED by the Homer City Council this 11th day of January, 2010.
CITY OF HOMER
JAMES C. HORNADAY, MAYOR
JO JOHNSON, CMC, CITY CLERK
Fiscal Note: Account No. 156-395-4992 - ACWF Loan - $145,355.