HomeMy WebLinkAboutResolution SEDA 2006-02 07/11/2006 200 ca —O2.
RESOLUTION NO. A
A RESOLUTION APPROVING AN AMENDMENT TO THE INTERGOVERNMENTAL
AGREEMENT TO ADVANCE $1.5 MILLION TO THE SPRINGFIELD ECONOMIC
DEVELOPMENT AGENCY FOR COST OF URBAN RENEWAL PROJECTS
WHEREAS, the City of Springfield (the "City") and the Springfield Economic
Development Agency ("SEDA") are authorized by Oregon Revised Statutes Chapter 190
to enter into intergovernmental agreements; and,
WHEREAS, the City and SEDA have developed a Cooperation Agreement between the
two agencies for the City to provide administrative and other services to SEDA; and,
WHEREAS, the Cooperation Agreement between SEDA and the City also states that
SEDA may borrow funds from time to time at terms and conditions agreeable to City
and SEDA; and,
WHEREAS, the City and SEDA entered into an Intergovernmental Agreement to permit
SEDA to borrow up to $1.5 million from the City for costs of Projects or Project-related
administrative expenses authorized by law; and,
WHEREAS, said Intergovernmental Agreement provides for the City to advance up to
$1.5 million to SEDA during fiscal year 2005-2006, upon receipt of written request from
SEDA; and,
WHEREAS, City and SEDA desire to provide that any portion or amount of that $1.5
million may be advanced to SEDA, not only during fiscal year 2005-2006, but also
during any of the following fiscal years: 2006-2007, 2007-2008, and 2008-2009.
NOW THEREFORE IT IS HEREBY RESOLVED AS FOLLOWS:
Section 1. Section 2.1 of the Intergovernmental Agreement dated November 29,
2005, entered into between Springfield Economic Development Agency
and the City of Springfield is hereby amended to read as follows:
"2.1 Advances. The City agrees to advance up to $1.5 million to SEDA
during fiscal year 2005-2006, upon receipt of written request from SEDA.
City and SEDA desire to provide that any portion or amount of that $1.5
million may be advanced to SEDA, not only during fiscal year 2005-2006,
but also during any of the following fiscal years: 2006-2007, 2007-2008,
and 2008-2009."
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Section 2. Except as amended herein, all other terms and conditions of the
Intergovernmental Agreement to make these payments shall remain in full force and
effect.
Section 3. This Resolution shall take effect upon passage by the SEDA and signature
by the Chair.
DATED this 1 1 rhday of July , 2006.
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John Woodrow, Vice Chair
ATTEST:
Christine Lundberg, Secret.'
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REVIEWED &APPROVED
AS TO FORM
DATE: —1 13 1 O
LEGAL COUNSEL
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