Information

Type: Deliberation

Department: PW - Public Works

Directors' Update: TBD

Business Meeting: Sept. 13, 2022

Summary:

Authorizing the Public Works Director to execute on behalf of Lewis County, an agreement between the Washington State Community Aviation Revitalization Board and Lewis County for aid in financing the costs of public facilities consisting of a New AvGas 100LL Fuel System at the South Lewis County Airport.

Publications:

Cover Letter To:

Additional Copies To: Tina Hemphill, Becky Butler

Resolution

WHEREAS, the Public Works Director of Lewis County is authorized and directed to execute, on behalf of Lewis County, a Final Contract between the Community Aviation Revitalization Board and Lewis County and such other documents as may be required for securing aid in financing the cost of public facilities consisting of a New AvGas 100LL Fuel System at the South Lewis County Airport; and

WHEREAS, the Lewis County Board of County Commissioners (BOCC) has accepted the offer of a loan from the Community Aviation Revitalization Board in the amount of $514,402, said loan to bear interest at the rate of 2.0% per annum; and

WHEREAS, repayment of said general obligation loan shall be consistent with the terms provided in the signed Initial Offer of Financial Aid and more particularly as described in the Estimated Loan Repayment Schedule detailed in the Initial Offer of Financial Aid; and

WHEREAS, a copy of said Initial Offer of Financial Aid is attached hereto and made a part hereof as though set forth herein in full; and

WHEREAS, Lewis County reserves the right to accelerate payments on principal and eliminate the interest on any accelerated principal payments; and

WHEREAS, this obligation shall be considered as a legal general obligation of Lewis County, and Lewis County hereby pledges its full faith and credit to the payment thereof; and

WHEREAS, Lewis County Public Works shall establish a separate fund to be known as the Community Aviation Revitalization Board (CARB) Fund. Establishment of this fund applies to CARB loans. In the case of a loan, there shall be sufficient moneys placed in this fund to meet the above-detailed repayment schedule.

NOW THEREFORE BE IT RESOLVED that the BOCC approves the final contract between the Community Aviation Revitalization Board and Lewis County and such other documents as may be required for securing aid in financing the cost of the above-described public facilities project and authorizes the Public Works Director to sign the same.

DONE IN OPEN SESSION this 13th day of September, 2022.