CANBY URBAN RENEWAL AGENCY
UR Resolution No. 03-002

A RESOLUTION ADOPTING AN INTERGOVERNMENTAL AGREEMENT WITH THE CITY OF CANBY REGARDING THE CONSTRUCTION OF SEQUOIA PARKWAY.  

WHEREAS, The City and Agency have determined that construction of the next phase of S. Sequoia Parkway is a community priority; and  

WHEREAS, the Oregon Economic and Community Development Department’s Special Public Works Fund Program is able to provide a loan to fund construction of S. Sequoia Parkway; and  

WHEREAS, The Agency is willing and able to fund the debt service on the SPWF loan but is not an eligible recipient; and  

WHEREAS, The City is an eligible recipient of the SPWF loan, as provided in OAR 123-042-0020(16);  

NOW, THEREFORE, THE CANBY URBAN RENEWAL AGENCY RESOLVES AS FOLLOWS:  

(1)       The Urban Renewal Agency agrees to the terms and conditions of the Intergovernmental Agreement attached hereto as Exhibit “A” and authorizes and directs the chair to sign said agreement on behalf of the Agency.  

This resolution will take effect on February 19, 2003.  

ADOPTED this 19^th day of February, 2003 by the Canby Urban Renewal Agency.  

__________________                                              Patrick Johnson, Chair