HomeMy WebLinkAboutResolution No. 95-26RESOLUTION NO. 95 -26
A RESOLUTION OF THE CITY OF CAPE CANAVERAL,
BREVARD COUNTY, FLORIDA; AUTHORIZING THE
EXECUTION OF STATE REVOLVING LOAN FUND NO.
CS120825020, AMENDMENT NO. 1; DESIGNATING AN
AUTHORIZED REPRESENTATIVE; PROVIDING FOR AN
EFFECTIVE DATE.
BE IT RESOLVED by the City Council of the City of Cape Canaveral, Brevard County,
Florida, as follows:
SECTION 1. The State Revolving Fund Amendment No. 1 to Loan Agreement No.
CS120825020 attached hereto as Exhibit "A" is hereby approved in the principal amount of
$1,718,000. The Loan Amendment No. 1 shall bear interest at a rate of 2.92%, with a maturity
date of July 1, 2016. The purpose of Loan Amendment No. 1 is to acquire funding for the
improvement of the City's sanitary sewer system.
SECTION 2. The Mayor is hereby authorized to execute the Loan Amendment No. 1
and all other documents reasonable and necessary to effectuate the closing of the loan
amendment.
SECTION 3. This Resolution shall become effective immediately upon its adoption.
ADOPTED BY the City Council of the City of Cape Canaveral, Florida, this y0 day
of M t 1990f
ohn K. Porter, MAYOR
ATTEST:
Sandra Off. Sims, CITY CLERK
Approved as to Form:
P1
Kohn Benne t, CITY ATTOR
c: Deborah Haggerty, F
rj
Director; Michael Gluskin, Public Works Dir.