Red Hook WatchIndependent Community Resource

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

↑Meetings/Resolutions/7-2017
One-time (complete)formal_resolutionone_timeAuthorizes Mayor Ed Blundell to complete and sign all requisite grant and loan documents with USDA-RD for the Red Hook Sewer Project, including a $4.9 million loan less a $1.2 million grant at 1.875% interest for 38 years.
First seen
2017-03-13
Latest event
2017-03-13
adopted
Expires
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Resolution text

RESOLVED

  1. 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
Show preamble — 3 WHEREAS clauses
  • 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
  • WHEREAS, 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
  • WHEREAS, by municipal law the Mayor has executive authority and counsel has reviewed the documents

Lifecycle (1 event)

2017-03-13adoptedvote: unanimous
Authorize Mayor Blundell to complete and sign requisite grant and loan documents for the Red Hook Sewer Project with USDA-RD.
moved by Trapp · seconded by Kovalchik
Show text snapshot for this event
Resolved
  1. 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
Whereas
  • 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
  • WHEREAS, 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
  • WHEREAS, by municipal law the Mayor has executive authority and counsel has reviewed the documents
Subject key: red_hook_sewer_project_usda_funding