2023R-12 A RESOLUTION AUTHORIZING THE CITY OF VREMILION, OHIO TO APPLY FOR, ACCEPT, AND ENTER INTO A WATER POLLUTION CONTROL LOAN FUND AGREEMENT ON BEHALF OF THE CITY OF VERMIION FOR DESIGN OF WASTEWATER FACILITIES; AND DESIGNATING A DEDICATED REPAYMENT SOURCE FOR THE LOAN:
WHEREAS, the City of Vermilion seeks to upgrade its existing wastewater facilities; and
WHEREAS, the City of Vermilion intends to apply for Water Pollution Control Loan Fund for the design of the wastewater facilities; and
WHEREAS, the Ohio Water Pollution Control Loan Fund 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 City of Vermilion, State of Ohio:
SECTION 1. That the City of Vermilion be and is hereby authorized to apply for a loan, sign all documents for, and enter into a Water Pollution Control Loan Fund with the Ohio Environmental Protection Agency and the Ohio Water Development Authority for design of wastewater facilities on behalf of the City of Vermilion, Ohio.
SECTION 2. That the dedicated source of repayment will be user charges.
SECTION 3. That this resolution shall take effect and be in force from and after the earliest period allowed by law