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Red Hook Sewer Project: USDA-RD Loan and Grant Authorization

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Inline resolution2017-03-13#7-2017
Original file not available onlineView version history →Meeting on 2017-03-13 →

Red Hook Sewer Project: USDA-RD Loan and Grant Authorization

Resolution #7-2017 — 2017-03-13

WHEREAS

  • the Village of Red Hook intends to continue its pursuit of funding sources for the municipal sewer project and has the funding commitment, letter of conditions USDA-RD and NYS-EFC, for both loan and grant money for the Red Hook Sewer Project, as per Preliminary Engineering report
  • the process involves review and signature of documents to define our obligations regarding the offer from USDA-RD ($4.9 million less a $1.2 million grant for 38 years at 1.875% interest) per their letter of conditions and funding determination
  • by municipal law the Mayor has executive authority and counsel has reviewed the documents

RESOLVED

  • Mayor Ed Blundell is fully authorized to complete and sign requisite grant and loan documents as necessary to complete the paperwork required by USDA-RD