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In the matter of:
STATE OF WASHINGTON
COUNTY OF JEFFERSON
X
RESOLU'l'ION NO. 47-90
Intent to enter into loan X
8greeJ't)ent with the Public Works X
Board for improvements to the X
Beaver Valley Road. X
WHEREAS, Jefferson county Public Works Department bas applied for a
Washington state Public Trust Fund loan to reconstruct the Beaver Valley
Road, including the shoulders, from M.P. 6.31 to M..P. 1.67, hereafter
referred t.o as "the project", and
WHEREAS, thé Washington state Public Works Board bas selected the
project for financinI'J, subject to approval by the Wa$hington state
Legislature, and
WHEREAS, RCW 43.155.070 requires that applicants must have
adopted the local option 1/4% real estat.e excise tax, as described in
chapter 82.46 RCW, Jefferson County has adopted said tax by oJ;"dinance
nU1'ItþAr 5..83 on october 26, 1983, and '
WHEREAS, RCW 43.155.170 requires that applicants must have
adopted a long-term financing plan for publio works, Jefferson County has
adopted the six Year Transportation Improvement Plan on June 26, 1989, by
resolution number 55-89, and
WHEREAS, Jefferson CO\1nty will comply with all state and local
regulations, including non-discrimination in employment and the
obtainment of any applicable environmental permits, and
WHEREAS, RCW 43.155.060 requires that tbe project will be
advertised for competitive bids for construction and administered in
accordance with standard local proceq.ure, and
WHEREAS, the project will follow ourrently accepted design
standards, and
WHEREAS, moneys from the Public Works Trust Fund loan, hereafter
oalled "the loan", will be applie4 only to the projeot. identified in this
resolution, and
WHEREAS, the loan will not exceed 90% of the costs inourred for the
projeot, and
WHEREAS, the loan will be for an amount not to exceed
$491,900.00 and
WHEREAS; the loan will carry a 3% annual interest. rate, and
WHEREAS, the projeot will beqin within three JaOnths from the date the
loan agreement is exeouted,
IT IS HEREBY RESOLVED that Jefferson County intends to enter into a
loan agreement with the Public Works Board, provided that. t.he terms and
conditions for a Public Works Trust Fund loan are sat.isfactory to both
parties.
PASSED AND ADOPTED THIS 7th
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ATTEST': ; .
DAY OF
May
,1990
BOARD OF JEFFERSON COUNTY COMMISSIONERS
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George Dr n, Chairman
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B.G. Brown, Member
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arry nn son, Kember
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u:m: 16 ,f~r,~ 00, 295