The URL can be used to link to this page

Home My WebLink About80-268.~os:r=~ s ._ v ~ USDA-FmHA - ~ . ,~._f` Form FmHA 442~7 - LOAN RESOLUTION ~ ` (Rev. 4-9-76} {Public Bo~ies) Resolution $0-`26$ ~ _ . ~ - ~ ,-- . . A RESOLUTION OF THE ---Baard...a f Su~er_v_isors,_^_-- . . : : ` , . OF THE ...~~Q_Ea.Ci_'~,Y__~2f ~_4l.'~~e_~:...-----______~~..._-----.______.._..__,_...__~..__,...._____..-----_...._----....----.~._~_ ' AUTHORIZING AND PROVIDING FOR.:THE INCURRENCE OF INDEBTEDNESS FOR THE PURFOSE OF PROVIDING A PORTION OF THE COST OF ACQ[TIRING, CONSTRUCTING, ENLARGING, [MPROVING, AND/OR EXTENDING ITS -----~~~-~_1G__~47Ck~-----------------_..__ -------_._-----...~--------------------....___...-------...______..-----.._---------- FACILITY TO SERVB AN AREA LA1?VFi]LLY WITHIN,ITS.:J'URIDICTION TO SERVE. wx~R~AS, it is necessary for:the -~~-~-~~~4 f--Syp.~rV1 S01^S_,:~COUn_ty__Of _BEltte ~ ---_..------..._______.~.___._._.-------- (PubIic Body) , , : {herein aftez called association) to rafse a portion of the cost of such undertaking by issuance of its bonds in the principal arnount of =~=--~-`~.~~_~~~-=-...:~---==--=-----=--_..:__.__..~----------------------------------------------- puxsuant to the provisions of ------~~~--~~.-~-~-~-~~:'.ni a_Go_v_eY'nment Code ~ . WHEREAS, the association intends to obtain assistance from the Fazmers. Home Administration, United States Depaztment . of Agricuiture, {herein called the Goverriment) aoting under ihe provisions ~af `t.~ie Consolidated Farm and~ Rural D'eveloprE-iez~t ~ Act (7 Cf.S.C. 1921 et seq.) in the planning, financing, and supervision of su~h undertakzng and to purchasing of bonds Iawfully issued, in the event that no other acceptable purchaser for such bonds is found by the association: ~ NOW THEREFORE, in considera#ion of the preFnises the association:hereby resol~es: ~,. , , . ]. To ha~e prepared on its beha~f and tv adopt an ordiu~ance or resolution #'or the issuance of its bonds and containing - such items and in such forms as are required by STATE statutes and as are agreeable and acceptable to the Governmenf. , ;;.~ . . . . 2. To re~nance the unpaid balance, in whole oz in part, of its bonds upon the request of the Go~ernment ~if at any time. iY shail appear to the Government that the assvczation is able to refinance its bonds by obtaining a loan fox such purpases from responszble cooperati~e or private saurces at reasonable zates and terms for Ioans for sirr~ilax purposes. and periads of time as: reqaired.. by section: 333(c} of said Consalidated Farm and Rural bevelopment Act . (7 U.S.C. 1983(c)). , 3. To provide for, execute, and comply with Form FmHA 400~, "Nondiscrimination Agreement"; and Form FmHA 400-I, "Equal Opportunity Agreement", including an "Equal Opportunity Clause", which clausa is to be i,n- carporated in, or attached as a rider to, each construction contract and subcontract invol~+ing in excess of $10,000. 4. To izademnify the Governrnent for any payments made or losses suffezed by the Government on behalf of the , association. Sucl~ indemnification shatl be payable from the same source of'founds pledged to pay the bonds or any ~ other iegaIly permissable source. : 5. That upon default in the payments of any principal and accrued interest an the bonds or in the performance of az-y ~ covenant oz agreemes~t contained herein or in the instzuments incident to making oz insuring ihe loan, the Government, at its option may (a) declare the entire principai amount then outstanding anc! accrued interest immediately due and payable, (b) for the account of the association (payable fxom the source of funds pledged to pay the bonds or any other legally perrriissable source) incur and pay reasonable expenses for repair, maintenance, and operation a#' the . faci.lity and such other reasonable expenses as may be necessary to cure the cause of default, and~or {c) take possession of the #'aci~ity, repair, maintain, and opezate ar rent it. Default under the provisions of this Resolution or any instrument incident to the makiung or insuring of the loan may be construed.by the Government to canstitute default under any other instrument held by the Government and exec~fed or assum~d by the association, and defa~lt under any such instrument may be construed by the Go~vernmert to constitute defauIt hereunder. 6. Not to sell, transfer, lease, or otherwise encumber the facility or any portion thereof, or interest therein, not pexmit ~ others to do so, without the prior written cansent of the Goverrunent. , 7. Not ta borrow any .zr~oney from any source, enter into any contract oz agreement, or incur any other liabili#ies in . connection with making er-Dargeinents, imgrovements or extensions to, or for any other purgose in connection with - the faciiity {exclnsive of norma~ znaintenance) without the prior written consent of the Gor+ern~ment if such undertaking would invoive tk~e savrce of funds pledged to pay the bonds. S. To place the proceeds of the bonds on depasit in an account; in a bank, arzd in a manner ~appro~ed by the Go~veznment FmHA 442-47 (Rev. 4-9-76} `~~~ 9. To comply with all app~icable State and Federal iaws and regutations and to continuaIly operate and rnaintain the facility in good condition. 10. To provide for the receipt of adequate revenues to meet the requirements of de6t service, opezation and maintenanca, and the establishment of adequate reserves. No free service oz use of the facility will be permitted. 1I. To acquire and rnaintain such insuzance coeerage including ~idelity bonds as may be required by the Go~ecnment. 12. To establish and maintain such boolcs and records relating to ~tl~e operation of the facility and its financiai affairs and to pzovide for xequired audit th~reof in such a mariner as may be req.uired by the Goverriment, to provide the Governrr~ent without its requesE, a copy of each such audit, and tp make and forward #o the Go~ernment such adci~tionai information and reports as it rnay from time to time require. 13. 'To piovide the Govexnment a# alI reasonable times access to all books and records relating to the facility and access ta the property of the system so that the Government may ascertain #hat the associa#ion is complying with the provisions heceof and of t~e instruments incident to the maldng or insuring of the ~oan. 14. To serve any applicant within the service area wf~o desires service an@ can be feasibly and lega~ly served, and to obtain the concurrence of the Farmers Home Administration prior ta refusing servzce to su~ch applicant. Upon the failure to provide such service wiiich zs feasib~e and legal such appIicant shall have a dir~et right of action against tI~e association under this agreemez-t. The provisions hereof and the pzovisions of au instruraents incident to the making or the insuring of the loan, uRless otherwise specifically prov.ided by ttae terms of such instruments, sha~ be binding upon Ehe association as long as the bonds are held or ic~sured by the Govexnment. The provisrons of sections 6 througlx 13 hereof may be pravided for in more specific detazl in the bond resolution or orc~inance; to the extent that fihe pra~isions contained in such bond resvlutioi~ or ordinance shoul8 be found to be inconsistent with the pxovisions hereof, these pravisions shall be construed as controlTing as between the associa#ion and the Govezr-rnent. The vote was: Yeas -~---..--; Nays - 0---- ; Absent - ~--------• , ~ ~ IN WITNESS WHER~OF, the __Board_ of Su~er~visors ^ __..___ _~_._---_.._______,_-----------------__.~---------__._._- of ihe Coun~ of Bu~~e ~'-------------------..-------.~-~_~_..-_,_.____..____„_____...___,~~_ has duly adopted this Reso~ution and caused ~ ~ it to be executed by the officezs below in daplicate on this 1~~h - day of ---Deee~er ~___~____ _____ , 19 80 -. ___ ount,y of Bu~~e . {sEa~) ~y --~ --- ------- --- ----- -- -- Attest: Clar'k . ~ o, CoLi~i.~y C].e~'1~ Title - Ch~~.1'1~Bo3rC1 _Of SU~ErviSOY~s T_~.. ~ $3~-___..._ - -- . , , ~ `. . . . Title ~ Assistant_C1erk to the Baard ~~`_ CERTIFICATION I, the undersi ned as -Count~;;Glex~k ~;~~~_ ~ Coun'~y; o~' Butte S , oE #he -_---- _ hereby certify that the BUtte CoUrlt~r Bo~Cl. o~' Superuisors ~__ ~~_ of such Assoc~ation is composed of ~ -------~ - members, of whozrt ~ -- , constituting a quorum, were present at a meeting thereaf duty cailed and ~ 16'th December 80 . held on ttte - ------ day of - ---- --------.~ ,~9 --- ; tIiat the foregoing resolutian was adopted at such rReetirtg by #}ie vote'~showri above; and that said resolution has not been rescinded or amended in any way. Dated, this -1 ~h- -- day of ,-- Dece~rib~r ^~_~___~__^ 80 .. ; cr~x a. r~~~~; c cr~Rx-~co~~R ~a ~` ' ` ~ ~' ex=offic~o r th~ Board : ~~~~ *U.S.GP0;2976-0-665-6fi9/2243 . AS S an~ .C~,e~k ~o ~he Boax'C~i. Tit~e _~__..._----- - -...~____..-----_...._.___---~-_