CITY OF HOMER
HOMER, ALASKA

CITY MANAGER

RESOLUTION 04-31

A RESOLUTION OF THE CITY COUNCIL OF HOMER, ALASKA, AUTHORIZING APPLICATION FOR A USDA COMMUNITY FACILITIES LOAN AND AUTHORIZING THE CITY MANAGER TO EXECUTE ALL RELEVANT DOCUMENTS

WHEREAS, Public libraries are essential community facilities, promoting lifelong learning and love of reading and helping fulfill the information and research needs of the community; and

WHEREAS, The existing Homer library is no longer adequate to meet the needs of the Homer community; and

WHEREAS, The City of Homer is a first-class municipality eligible to apply for U.S. Department of Agriculture (USDA) Community Facilities Grants and Loans; and

WHEREAS, The City of Homer is applying to the USDA for a Community Facilities Grant to cover 15% of eligible costs for construction of a new public library; and

WHEREAS, Additional funding from private donations, grants, and loans will be needed to complete the new library project; and

WHEREAS, A USDA Community Facilities Loan can be provided with a low interest rate, 30 or 40 year term, and no fees; and would help in conjunction with the Community Facilities Grant request to help build a new Homer library.

NOW, THEREFORE BE IT RESOLVED, that the Homer City Council hereby authorizes the application for a USDA Community Facilities Loan in an amount not to exceed $2.2 million; and

BE IT FURTHER RESOLVED that said loan will not be finalized without approval of the voters of Homer; and

BE IT FURTHER RESOLVED that the City Council hereby authorizes the City Manager to execute all relevant documents necessary to submit the aforementioned loan application.

PASSED AND ADOPTED BY THE HOMER CITY COUNCIL this 22nd day of March, 2004.

CITY OF HOMER

Jack Cushing, Mayor

ATTEST:

___________
Mary L. Calhoun, CMC, City Clerk

Fiscal Impact: None known at this time