R 2221
278
RESOLUTION NO. 2221
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE AUTHORIZING THE
APPOINTMENT OF A FISCAL AGENT FOR
REPA YMENT OF LOAN PROC EEDS FROM
THE STATE SAFE DRINKING WATER BOND
LAW OF 1976
WHEREAS. the City Council has authorized the execution of an Agreement with
the State of California for the City to borrow a maximum of $753,500.00 from the Safe
Drinking Water Bond Law of 1976; and
WHEREAS. said Agreement requires the City to appoint an approved entity or
Institution as a fiscal agent for the transmission of City repayment funds to the Stalp..
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arroyo
Grande that the City's Finance Director Is authorized to appoInt an approved fiscal entity
or Institution In the City of Arroyo Grande as the City's fiscal agent, and enter Into a
fiscal services agreement for the State loan proceeds and revenues from the Safe
Drinking Water Bond Law of 1976.
On motion of Council Member Porter, seconded by Council Member Johnson, and
on the following roll call vote. to wit:
AYES: Council Members Porter, Johnson, Moots. Millis and Mayor Mankins
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted this 26th day of April. 1988.
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MAYOR
ATTEST: ~ff!-I&~7;(;7
DEPUT C TY CLERK
I. MARY E. BASSETT. Deputy City Clerk of the City of Arroyo Grande. County of
San Luis Obispo, State of California, do hereby certify under penalty of perjury that the
foregoing Resolution No. 2221 Is a true, full and correct copy of said Resolution passed
and adopted at a regular meeting of said Council on the 26th day of April, 1988.
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