CITY OF SEATTLE

ORDINANCE __________________

COUNCIL BILL __________________

AN ORDINANCE relating to Seattle Public Utilities; authorizing the Director of Seattle Public Utilities to accept a loan from the Washington State Public Works Board and to execute, deliver, and perform corresponding agreements; and ratifying and confirming certain prior acts.

WHEREAS, the Drinking Water State Revolving Fund (DWSRF) program is a partnership of the state and federal governments to make low-interest loans to public water systems for capital improvements aimed at increasing public health protection; and

WHEREAS, the Washington State Public Works Board is the entity responsible for providing financial assistance to local governments and tribes in Washington under the DWSRF; and

WHEREAS, Seattle Public Utilities applied for and has been awarded $12,120,000 from the Public Works Board in the form of a low-interest loan; NOW, THEREFORE,

BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:

Section 1. The Director of the Seattle Public Utilities is authorized to accept, execute, deliver and perform on behalf of the City of Seattle the agreement for the following loan from the Washington State Public Works Board for the purposes described below, and is authorized to obligate the City to repay the loan according to the terms of the loan agreement. The funds, when received, shall be deposited in the receiving fund identified below to support, or as reimbursements for, spending on the purposes set forth in the loan agreement.

Section 2. Any act consistent with the authority of this ordinance that is taken after passage of this ordinance but prior to its effective date is hereby ratified and confirmed.

Section 3. This ordinance shall take effect and be in force 30 days after its approval by the Mayor, but if not approved and returned by the Mayor within ten days after presentation, it shall take effect as provided by Seattle Municipal Code Section 1.04.020.

Passed by the City Council the ____ day of ________________________, 2014, and signed by me in open session in authentication of its passage this

_____ day of ___________________, 2014.

_________________________________

President __________of the City Council

Approved by me this ____ day of _____________________, 2014.

_________________________________

Edward B. Murray, Mayor

Filed by me this ____ day of __________________________, 2014.

____________________________________

Monica Martinez Simmons, City Clerk

(Seal)

Dan Enrico SPU Morse Lake Loan ORD March 14, 2014 Version #1