HomeMy WebLinkAbout111-R-21 Authorizing City Officials to Negotiate and Execute the WIFIA Loan Agreement and WIFIA Term Sheet10/4/2021
111-R-21
A RESOLUTION AUTHORIZING CITY OFFICIALS TO NEGOTIATE AND
EXECUTE THE WIFIA LOAN AGREEMENT AND WIFIA TERM SHEET
WHEREAS, the City of Evanston ("City") plans on undertaking the 1909
Raw Water Intake Replacement Program ("Project"), which is designed to replace aging
infrastructure in the City; and
WHEREAS, the United States Environmental Protection Agency ("EPA")
is authorized to act as a lender and enter into agreements with eligible entities to
provide financial assistance to eligible projects; and
WHEREAS, the City has requested a WIFIA loan of approximately
$20,386,000 (excluding interest) to pay for eligible costs related to the Project; and
WHEREAS, the Administrator of the EPA has approved financial
assistance to the City in the form of a WIFIA loan; and
WHEREAS, the City Council believes that it is in the best interests of the
City to delegate to the City Manager, the City Treasurer, and/or any authorized
designee, to negotiate the terms of a WIFIA loan agreement and a WIFIA term sheet to
be executed by one of the following "Designated Officers": the Mayor, City Clerk,
Treasurer/Chief Financial Officer, City Manager or Deputy City Manager.
NOW BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS, THAT:
SECTION 1: That the foregoing recitals are hereby found as fact and
incorporated herein by reference.
111-R-21
SECTION 2: The City Manager, the City Treasurer, and/or any authorized
designee, is hereby authorized and directed to negotiate the terms of the WIFIA Loan
Agreement and WIFIA Term Sheet, attached hereto as Exhibit A, and any of the
Designated Officers are hereby authorized and directed to execute the WIFIA Loan
Agreement and the WIFIA Term Sheet.
SECTION 3: If any provision, clause, sentence, paragraph, section or part
of this Resolution, shall, for any reason, be adjudged by a court of competent
jurisdiction to be unconstitutional or invalid, said judgment shall not affect, impair or
invalidate the remainder of the Resolution.
SECTION 4: This Resolution 111-R-21 will be in full force and effect from
and after the date of its passage and approval in the manner provided by law.
Attest: p
Stephanie Mendoza, City Clerk
Adopted: October 11 2021
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Daniel Biss, Mayor
Approved as to form:
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Nicholas E. Cummings, Corporation
Counsel
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