CITY OF HOMER
HOMER, ALASKA
City Manager/
Public Works Director
ORDINANCE 09-55(S)(A)
AN ORDINANCE 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 $200,000 AND AMENDING THE FY 2009 CAPITAL BUDGET BY APPROPRIATING $20,000 (10% NOT FORGIVEN PORTION) FOR THE PURPOSE OF CONSTRUCTING ONE PRESSURE REDUCING VAULT (PRV) STATION ON MATTOX STREET TO REPLACE THE PRV AT LAKESIDE.
WHEREAS, The American Recovery and Reinvestment Act (ARRA) contained funding that was directed to the Clean Drinking Water Revolving Loan Fund; and
WHEREAS, The Drinking Water Revolving Loan Fund can be used to finance improvements to drinking water treatment and distribution systems; and
WHEREAS, Constructing one pressure reducing vault station on Mattox Street to replace the PRV at Lakeside is needed; and
WHEREAS, The Mattox Street PRV will be constructed; and
WHEREAS, Funding is offered in the form of a loan in the amount of $200,000 (90% forgiven upon purchase) if the City successfully completes the project; and
NOW, THEREFORE, THE CITY OF HOMER ORDAINS:
Section 1. The Homer City Council hereby authorizes the City Manager to make application for, accept, execute a loan agreement for, manage, and appropriate ARRA funding in the form of a loan through the Drinking Water Revolving Loan Fund ADWF in the amount of $200,000 which is 90% forgiven upon successful completion of the project as follows:
Account Description Amount
215-833 Loan/PRV
Stations $20,000
Section 2. This is a budget amendment ordinance, is temporary in nature, and shall not be codified.
ENACTED BY THE HOMER CITY COUNCIL this 23rd day of November, 2009.
CITY OF HOMER
______________________________
JAMES C. HORNADAY, MAYOR
ATTEST:
______________________________
JO JOHNSON, CMC, CITY CLERK
YES:
NO:
ABSENT:
ABSTAIN:
First Reading:
Public Hearing:
Second reading:
Effective Date:
Reviewed and approved as to form:
______________________________ ______________________________
Walt Wrede, City Manager Thomas F. Klinkner, City Attorney
Date: _________________________ Date: _________________________