Onancock Town Council SPECIAL Meeting  AGENDA February 16, 2017 5:30 p.m.  1. Call to Order and Roll Call 2. Pledge of Allegiance 3. Public Business  a. USDA-RD Resolution of Governing Body ofTown of Onancock; Mr. William  Kerbin,. Jr.  b. USDA-RD Loan Resolution; Mr. William Kerbin,] Jr.  4. - Public Comment 5. - Adjourn    Virginia Instruction 1942-A Exhibit B Attachment 2  RESOLUTION OF GOVERNING BODY OF  TOWNOF ONANCOCK  The Town Council of the Town of Onancock, consisting of six members, in a duly called  meeting held on the present RESOLVED as follows:  day of  at which a quorum was  BE IT HEREBY RESOLVED that, in order to facilitate obtaining financial assistance from the United States of America, United States Department of Agriculture, Rural Development, (the Government) in the purchase of a Police Vehicle to serve the community, the Town Council does hereby adopt and abide by the covenants contained in the agreements, BEI - IT FURTHER RESOLVED that the MAYOR and TOWNN MANAGER of the Town ofOnancock be authorized to execute on behalf of the TOWNCOUNCIL the above-referenced agreements and to execute such other documents including, but not limited to, debt instruments and security instruments as may be required in obtaining the said financial assistance.  documents, and forms required by the Government to be executed.  This Resolution, along with a copy of the above-referenced documents, is hereby entered  into the permanent minutes of the meetings of this Council.  TOWNO OF ONANCOCK (ENTITY NAME)  By:  Attest:  CERTIFICATION  Ihereby certify that the above resolution was duly adopted by the TOWNCOUNCILOF  the TOWNOFONANCOCK in a duly assembled meeting on the  day of  Secretary/Clerk  VA PN No. 181 (Rev. 05-11-04)    Position. 5 LOANRESOLUTION (Public Bodies)  USDA Form RD 1942-47 (Rev. 12-97)  FORM APPROVED OMBI NO.0575-0015  Al RESOLUTIONOF THE Town Council OFTHE Town of Onancock Police Vehicles (2016) WHEREAS, iti is necessary fort the  AUTHORIZING ANDI PROVIDING FOR THE INCURRENCE OF INDEBTEDNESSI FOR THE PURPOSE OF PROVIDING A PORTION OF THE COST OF ACQUIRING, CONSTRUCTING, ENLARGING,MPROVING. AND/OR EXTENDINGITS  FACILITY TO SERVE AN. AREAI LAWFULLY WITHINITS/URISDICTIONTOSEVE.  Town of Onancock (Public Body)  (herein after called Association) to raise aj portion of the cost ofs such undertaking byi issuance of its bonds in the principal amount of  30,000.00  pursuant to the provisions of the Code of Virginia  and  WHEREAS, the Association intends to obtain assistance from the Rural Housing Service, Rural Business Cooperative Service, Rural Utilities Service, or their successor Agencies with the United States Department of Agriculture, (herein called the Government) acting under the provisions of the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) in the planning, financing, and supervision of such undertaking and the purchasing ofbonds lawfully issued, in the event that no other acceptable purchaser for such 1. To have prepared on its behaif and to adopt an ordinance or resolution for the issuance ofi its bonds containing suchi items and ins such forms as are required by State statutes and as are agreeable and acceptable to the Government. 2. To refinance the unpaid balance, in whole ori in part, ofi its bonds upon the request oft the Government ifat any time it shall appear to the Government that the Association is able to refinance its bonds by obtaining a loan for such purposes from responsible cooperative or private sources at reasonable rates and terms for loans for similar purposes and periods oft time as required by section 333(c)ofsaid Consolidated Farm and Rural Development Act(7U.S.C. 1983 (c)). 3. Top provide for, execute, and comply with Form RD 400-4, "Assurance Agreement," and Form RD 400-1,' "Equal Opportunity Agreement," including an' "Equal Opportunity Clause," which clause is to be incorporated in, or attached as a rider to, each 4. To indemnify the Government for any payments made or losses suffered by the Government on behalfoft the Association. Such indemnification shall be payable from the same source of funds pledged toj pay the bonds or any other legal permissible 5. That upon defaulti in the payments of any principal and accrued interest on the bonds or in the performance of any covenant or agreement contained herein or in the instruments incident to: making or insuring the loan, the Government at its option may (a). declare the entire principal amount then outstanding and accrued interest immediately due and payable, (b) for the account ofthe Association (payable from the source of funds pledged to pay the bonds or any other legally permissible: source), incur and pay reasonable expenses. for repair, maintenance, and operation of the facility ands such other reasonable expenses as may be necessary to cure the cause of default, and/or (c) take possession oft the facility, repair, maintain, and operate or rent it. Default under the provisions of this resolution or any instrument incident to the making ori insuring of the loan may be construed by the Government to constitute default under any other instrument held by the Government and executed or assumed by the Association, and default 6. Nott tos sell, transfer, lease, or otherwise encumber the facility or any portion thereof, or interest therein, or permit others to 7. Not to defease the bonds, or tol borrow money, enteri into any contract or agreement, or otherwise incur any liabilities for any purpose in connection with the facility (exclusive of normal maintenance) without the prior written consent ofthe 8. Toj place the proceeds of the bonds on deposit in an account andi in a manner approved by the Government. Funds may be deposited in institutions insured by the State or Federal Government ori invested in readily marketable securities backed by the full faith and credit of the United States. Any income from these accounts will be considered as revenues oft the system. 9. To comply with all applicable State and Federal laws and regulations and to continually operate and maintain the facility in 10. To provide for the receipt of adequate revenues to meet the requirements of debt service, operation and maintenance, and the establishment of adequate reserves. Revenue accumulated over and above that needed to pay operating and maintenance, debt service andi reserves may only be retained or used to make prepayments on the loan. Revenue cannot be used to pay any expenses which are not directly incurred for the facility financed by the Government. No free service or use ofthe facility will According tol thel Paperwork Reduction Actof 1995. noy persons are required lo respond loac collection of information unless Adsplays a validOMB comtrol mmber. Thei valdOMB control number for this information collection is 0575-0015. Ther mme required to complete this mformation collectioni isestimated to average lhoury perr response. includng the time for reviewingi instructions, searching existinge daias sources. gathering and maintaining thes data needed, and completing and reviering thec collection efinformatton.  bonds is found by the Association:  NOW THEREFORE in consideration oft the premises the Association hereby resolves:  construction contract and subcontract involving in excess ofs 10,000.  source.  under any such instrument may be construed by the Government to constitute default hereunder.  dos sO without the prior written consent oft the Government.  Government ifsuch undertaking would involve the source of funds pledged to pay the bonds.  good condition.  be permitted.    -2-  11. Toa acquire and maintain such insurance and fidelity bond coverage as may be required by the Government. 12. To establish and maintain such books and records relating to the operation of the facility and its financial affairs and to provide for required audit thereof as required by the Government, to provide the Government a copy of each such audit without its request, andt to forward to the Government such additional information and reports asi it may from time tot time 13. Top provide the Government at all reasonable times access to all books and records relating to the facility and access tot the property oft the system so that the Government may ascertain that the Association is complying with the provisions hereof 14. That ift the Government requires that a reserve account be established and maintained, disbursements from that account may be used when necessary for payments due on the bond ifs sufficient funds are not otherwise available. With the prior  require.  and of thei instruments incident to the making or insuring of the loan. written approval of the Government, funds may be withdrawn for: (b) Repairing or replacing short-lived assets. (c) Making extensions ori improvements to the facility. reached thet required funded level.  (a) Paying the cost ofr repairing or replacing any damage to the facility caused by catastrophe.  Any time funds are disbursed from the reserve account, additional deposits will be required until the reserve account has 15. Top provide adequate service to all persons within the service area who can feasibly and legally be: served and to obtain the Government's concurrence prior tor refusing new or adequate services tos such persons. Upon failure to provide services which are feasible and legal, such person shall have a direct right of action against the Association or public body. 16. To comply with the measures identified in the Government's environmental impact analysis for this facility for thep purpose ofavoiding or reducing the adverse environmental impacts of the facility's construction or operation.  17. Toa accept a grant in an amount not to exceed $.  0  under the terms offered by the Government; that the Mayor  and Town Manager  oft the Association are hereby authorized and empowered to take all action necessary  or appropriate in the execution ofa all written instruments as may be required in regard to or as evidence ofs such grant; and The provisions hereof andt the provisions of all instruments incident to the making or the insuring of the loan, unless otherwise specifically provided by the terms ofs such instrument, shall be binding upon the Association as long as the bonds are held or insured byt the Government or assignee. Thej provisions ofs sections 61 through 17 hereofmay be provided fori in more specific detail in the bond resolution or ordinance; tot the extent that the provisions contained in such bond resolution or ordinance should be found to bei inconsistent with the provisions hereof, these provisions shail be construed  tooperate the facility under the terms offered in said grant agreement(s).  as controlling between the Association and the Government or assignee  The vote was:  Yeas  Nays  Absent  IN WITNESS WHEREOF, the Town Council  ofthe  Town of Onancock  has duly adopted this resolution and caused it  to be executed by the officers below in duplicate on this  day of  (SEAL) Attest:  By_ Russell A. Jones Title Mayor  Title    -3-  CERTIFICATION TO BE EXECUTED AT LOAN CLOSING  I,t the undersigned, as hereby certify that the' Town Council  ofthe Town of Onancock  ofs such Association is composed of  members, ofv whom  constituting a quorum, were present at a meeting thereof duly called and ;and that the foregoing resolution was adopted at such meeting the date of closing of the loan from the Government, said resolution  held on the  day of  by the vote shown above. I further certify that as of remains in effect and has not been rescinded or amended in any way.  Dated, this  day of  Title