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HomeMy WebLinkAboutReso - CC - 047-19930 RESOLUTION NO. 47-93 AUTHORIZING ACCEPTANCE OF LOAN UNDER WATER CONSERVATION BOND LAW OF 1988 RESOLVED by the City Council of the City of Burlingame, California, and this Council does hereby FIND, ORDER and as follows: 1. The City of Burlingame does hereby accept the loan under the Water Conservation Bond Law of 1988 for the construction of three wells in Washington Park and a related distribution system, as more fully set forth in the hereinafter referred to loan agreement. 2. The Director of Public Works be, and he is hereby, authorized to sign said loan agreement for and on behalf of the City of Burlingame and is designated as the person to approve partial payment estimates. 3. The water system revenues of the city is dedicated as the source of revenue to repay said loan. Sufficient revenues shall be deposited into the Water Enterprise Fund to meet the semiannual principal and interest payments upon said loan as they become due. 4. The City Clerk is hereby ordered and instructed to attest such signature. MAYOR I, JUDITH A. MALFATTI, City Clerk of the City of Burlingame, do hereby certify that the foregoing resolution was introduced at a regular meeting of the City Council held on the 19th day of July , 1993, and was adopted thereafter by the following vote: AYES: COUNCILMEMBERS NOES: COUNCILMEMBERS ABSENT: COUNCILMEMBERS HARRISON, KNIGHT, LEMBI, 0-MAHONY, PAGLIARO NONE NONE r l CITY CLERK