Resolution No. 8-2024

A RESOLUTION AUTHORIZING THE MAYOR OF THE VILLAGE OF SHREVE TO APPLY FOR, ACCEPT, AND ENTER INTO A WATER SUPPLY REVOLVING LOAN ACCOUNT ON BEHALF OF THE VILLAGE OF SHREVE FOR CONSTRUCTION OF THE PHASE 1-3 WATERLINE REPLACEMENT PROJECT AND DESIGNATING A DEDICATED REPAYMENT SOURCE FOR THE LOAN

Whereas the Village of Shreve seeks to replace aging and deteriorated waterline and related valves and hydrants; and Whereas the Village of Shreve intends to apply for Water Supply Revolving Loan Account Fund (WSRLA) for the construction of the drinking water improvements; and Whereas the Ohio Water Supply Revolving Loan Account requires the government authority to pass legislation for application of a loan and the execution of an agreement as well as designating a dedicated repayment source; now therefore,

BE IT RESOLVED by the Council of the Village of Shreve, Wayne County, Ohio:

SECTION 1. That the Mayor of the Village of Shreve be and is hereby authorized to apply for a WSRLA loan, sign all documents for and enter a Water Supply Revolving Loan Account with the Ohio Environmental Protection Agency and the Ohio Water Development Authority for construction of drinking water facilities on behalf of the Village of Shreve, Wayne County, Ohio.

SECTION 2. That the dedicated source of repayment will be water funds.

SECTION 3. That this resolution shall take effect and be in force from and after the earliest period allowed by law.