File #: R-2017-0034    Version: 1
Type: Resolution Status: Adopted
File created: 3/7/2017 In control: Public Works Committee
On agenda: 3/7/2017 Final action: 3/7/2017
Title: Resolution Authorizing Execution of the Department of Natural Resources Principal Forgiven Financial Assistance Agreement.
Sponsors: Public Works Committee
Attachments: 1. R-2017-0034 signed, 2. Private Lead Service Line Replacement Agreement executed, 3. Financial Assistance Agreement

Title

Resolution Authorizing Execution of the Department of Natural Resources Principal Forgiven Financial Assistance Agreement.

Body

WHEREAS, the City of West Allis (the “Municipality“) wishes to undertake a project to replace private lead service lines, identified as DNR No. 5404-05 (the “Project”); and

 

WHEREAS, the Municipality has applied to the Safe Drinking Water Loan Program (the “SDWLP”) for financial assistance in the form of a loan made by the SDWLP to the Municipality of which all the principal will be forgiven at the time that loan disbursements are made to the Municipality, pursuant to the DNR Financial Assistance Agreement; and

 

WHEREAS, the SDWLP has determined that it can provide a loan with principal forgiveness in an amount up to $500,000 that it has identified as being eligible for SDWLP funding;

 

NOW, THEREFORE, the City Mayor and City Clerk are authorized by and on behalf of the Municipality to execute the Principal Forgiven Financial Assistance Agreement that contains the terms and conditions of the SDWLP award for the Project.  The Principal Forgiven Financial Assistance Agreement is incorporated herein by this reference.