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2000-076-RES AUTHORIZING THE MAYOR AND OTHER CITY RESOLUTION NO. 2000-076 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, AUTHORIZING THE MAYOR AND OTHER CITY OFFICIALS TO EXECUTE ANY AND ALL DOCUMENTS NECESSARY TO THE RECEIPT AND ACCEPTANCE OF A REVOLVING LOAN FUND GRANT TO FUND SMALL AND EMERGING BUSINESSES THROUGH THE UNITED STATES DEPARTMENT OF AGRICULTURE, RURAL ECONOMIC AND COMMUNITY DEVELOPMENT DIVISION; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris did heretofore, on the 6th day of August, 1998, in Resolution No. 98-104, authorize an application to be made to the United States Department of Agriculture, Rural Economic and Community Development Division, for a Revolving Loan Fund grant; and, WHEREAS, the United States Department of Agriculture has issued its Letter of Conditions required for the award of said Revolving Loan Fund grant; and, WHEREAS, acceptance of the same by completion of Form FmHA 1942-46 <<Letter of Intent to Meet Conditions" and the conditions set forth must occur within ninety (90) days of the date of said Letter of Conditions, which occurred on May 25, 2000; and, WHEREAS, it is deemed to be in the best interests of the citizens of Paris that the City of Paris accept said grant award and fund small and emerging businesses in the City of Paris; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the Mayor and other City officials, as appropriate, shall be, and are hereby, authorized and directed to execute, on behalf of the City of Paris, the Letter of Intent to Meet Conditions and supporting documents, under the terms and conditions and in the form shown in Exhibit A, attached hereto, and any and all other documents necessary and incident to the receipt and acceptance of a Revolving Loan Fund Grant, in such amount as the City shall be qualified to receive, from the U. S. Department of Agriculture, Rural Development, to fund small and emerging businesses in the city of Paris, Texas. Section 3. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 12th day of June, 2000. ATTEST: Mattie Cunningham, City Clerk ~~L_{/ ~ Michael J. Pfies er, M r Fonft RD 1942-46 (Automated 8-97) FORM APPROVED OMS NO. 0575-0015 UNITED STATES DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT LETTER OF INTENT TO MEET CONDITIONS Date May 26, @OOO TO: Rural Development United States Department of Agriculture P. O. Box 1328 Ml. Pleasant, Texas 75456 (Kural Uevelopment UllIce Address) We have reviewed and understand the conditions set forth in your letter dated May 26, 1900 It is our intent to meet all of them not later than August 26, 2000 We are also requesting that we be given the interest rate in eftect at the time of Joan approval or at the time of loan closing, whichever is lower. In otherwords, we want the lowest interest rate possible CITY OF PARIS (Name ot AssociatIon) BY MICHAEL PFIESTER, MAYOR Puh/it.: reporting hurdenfiJr Ihis ,'UJJe,1ion ofinjiJrmation i,l' e,I'(jmated 10 average J hour per respon,fe, im.:luding Ihe lime jiJr reviewing in- ,ftrlK1iun.l'. sear,'hing exi,l'ling dala ,wlIn'es, galhering and maintaining the datu needed, and "YJmpleling and reviewing the UJJJeL'Iion of in- fiJrmalion, Send "~Jmment,f n:garding /hi.I' hurden I:,l'timale or any olher a.\'jX'l.1 oflhi.I' "'oJle,,1ion ofi,!/iJrmalion, induding ,1'lIgge,\'lilm.~f(Jr reducing thi.f hurden, to lJepar/menl ofAgri,,'Ulture. Clearan,,'eOjjker. OJJ{M, Room ./O-l-W, Wu.\'hinglon, D,C. 20250; and 10 Iheqf.lke of Management and Budgel, Paperwork J{eduL'tion PN!je,,'/ (OMB No, 0575...()0J5), Wa,I'hington, D.e. 20503. I EXHIBIT A RD 1942-46 (Automated 8.97) USLlA-RD . Form RD 1940-1 (Automated 8-97) RE("'l!:ST FOR OBLIGATION OF FUNf - INSTRUCTIONS-TYPE IN CAPITALIZED ELITE TYPE IN SPACES MARKED Complete Items I through 30 and applicable Items 31 through 43. See FMI. I. CASE NUMBER LOAN NUMBER FISCAL YEAR ST CO BORROWER ID I I 50 I 039 I 0756000633 2. BORROWER NAME 3. NUMBER NAME FIELDS CIIITIYI IOIFI IplAIRIIISI I I I I I 1 I (I, 2. or 3 from Item 2) 4. STATE NAME , , , I I I I I I I I I I I I , , I T'XI I I I I I I I I I I I I I 5. COUNTY NAME I I I I I I I I I I I I I I I I I I LIAIMIAIR' I I I I , I I I I I GENERAL BORROWER/LOAN INFORMATION 6. RACEIETHNIC 7. TYPE OF 4. PUBLIC BOD 8. COLLATERAL CODE 9. EMPLOYEE CLASSIFICATION APPLICANT S-ASSOC.OF RELATIONSHIP CODE FARMERS 1- REAL ESTATE 4- MACHINERY ON I-WHITE 4. HISPANIC 6-0RG.OF SECURED S - LIVESTOCK ONL 1 . EMPLOYEE 2-BLACK S-AlPI I - INDIVIDUAL FARM 2 . REAL EST A iE 6 _ CROPS ONLY 2 - MEMBER OF FAMILY I ).Al/AN 2 - PARTNERSHIP WORKERS 13 AND CHAlTEL7. SECURED BY I 3 -CLOSERELATlVE 4 I J - CORPORATION 7-0THER 3 . NOTE ONt Y OR BONDS 4-ASSOC CHA TIEL ONt y to. SEX CODE J-FAMILYUNIT II. MARITAL STATUS 12. VETERAN CODE 13. CREDIT REPORT 4 . ORGAN. MALE OWNED I . MARRIED 3 . UNMARRIED (INCLUDES I I I-MALE S - ORGAN. FEMALE OWNED I 2-SEPARATED WIDQWEDIDIVORCED) I-YES I I-YES 6 2 . FEMALE 6 - PUBLIC BODY Z-NQ 2 2-ND 14. DIRECT PA YMENT 15. TYPE OF PA YMENT 16. FEE INSPECTION 17. INTEREST CREDIT 3 I I I - MONTHLY J - SEMj.ANNUALL Y 2 I I.YES I I . YES (FRO SFH ONLY) (.wefM/) 2 - ANNUALLY 4.QUARTERLY 2-NO 2-NO 18. COMMUNITY SIZE 19. DWELLING TYPE/USE OF FUNDS CODE I I _ 10,000 OR LESS (FOR SFH AND I 2-0VER 10,000 HPG ONLY) (SeefM/) COMPLETE FOR OBLIGATION OF FUNDS 20. TYPE OF 21. PURPOSE CODE 22. SOURCE OF FUNDS 23. TYPE OF ACTION ASSISTANCE I . OBLIGATION ONLY 081 I 2 I 1 I 2 - OBLIGA TIONfCHECK REQUEST (Self/.M!) ) . CORRECfION OF OBLIGATION 24. TYPE OF SUBMISSION 25. AMOUNT OF LOAN 26. AMOUNT OF GRANT 1 , I-INITIAL $ 0.00 $ 0.00 2 - SUBSEQUENT 27. AMOUNT OF IMMEDIATE 28. DATE OF 29. INTEREST RATE 30. REPAYMENT TERMS ADVANCE APPROVAL MO DA YR I H I 1--1 I I COMPLETE FOR SINGLE FAMILY HOUSING ONLY 31. INCOME CATEGORY CODES 32. LOW INCOME 33. ADJUSTED FAMILY INCOME I LIMIT-MAX. I. VERY LOW ] - MODERATE 2-LOW 4 - ABOVE MODERATE 34. R.E.INSURANCE 35. R.E.TAXES 36. R.E. TAXES 37. NOTE INSTALLMENT INELIGIBLE 1st year 2nd year 38. TYPE OF UNIT I I . FARM TRACT 2 - NON-FARM TRACT COMPLETE FOR COMMUNITY PROGRAM AND CERTAtN MULTIPLE-FAMILY HOUSING LOANS 39. PROFIT TYPE I I - FULL PROFIT 2 - LIMITED PROFIT ) . NONPROFIT COMPLETE FOR EM LOANS ONLY COMPLETE FOR CREDIT SALE-ASSUMPTION 40. DISASTER DEStGNA TlON NUMBER 41. TYPE OF SALE 4 . ASSUMPTION WITH I (.weFMI) I 2 - ASSUMPTION ONLY I . CREDIT SALE ONLY ). CREDIT SALE WITH SUB LOAN SUBSEQUENT LOAN FINANCE OFFICE USE ONLY COMPLETE FOR FP LOANS ONLY 42. OBLIGATION DATE 43. BEGINNING FARMER/RANCHER ~O I __ I ~A I __ I Y I I (Site/'M/) If Ihe ,led.I'illll clmlllilled uh/ll'e inlhi_~ fll"'" re.\'IIII.I' ill det/iul, redlK/iulIllr nlllcel/u/;Of/ of U.\'f)A u.~_I'i,I'lu"':e, YIII/may appeal/hi.I' dechiofl and hm'e a heuring or YOIIIIIUY reqlle.I'1 a rel'iew il/lief/I!I u heari/lg_ Pleal'e 11.I'e Ihe fiINII we hUI'e indlldedfilr Ih;.~ pllrpuw. Position 2 ORIGINAL - Borrower1s Case Folder COPY t - Finance Office COPY 2 - Applicant/Lender Copy 3 ~ State Office CERTIFICATION APPROVAL For All Farmer Programs EM, OL, FO, and SW Loans This loan is approved subject to the availablity of funds. If this loan does not close for any reason within 90 days from the date of approval on this document, the approval offical will request updated eligibility infonnation. The undersigned loan applicant agrees that the approval official will have 14 working days to review any updated information prior to submitting this document for obligation of funds. If there have been significant changes that may affect eligibility, a decision as to eligibility and feasibility will be made within 30 days from the time the applicant provides the necessary information. If this is a loan apraval for which a lien and/or title search is necessary, the undersigned applicant agrees that the J 5-working-day loan closing requirement may be exceeded tor the purposes of the applicant's legal representatives completing title work and completing loan closing. 44. COMMENTS AND REQUIREMENTS OF CERTIFYING OFFICAL RURAL BUSINESS ENTERPRISE GRANT IS APPROVED SUBJECT TO THE SCOPE OF WORK PROVIDED BY THE CITY OF PARIS AND THE LETTER OF CONDITIONS DATED 5/26/00. 5. I HEREBY CERTIFY that I am unable to obtain sufficient credit elsewhere to finance my actual needs at reasonable rates and terms, taking into consideration prevailing private and cooperative rates and terms in or near my community for loans for similar purposes and periods of time. I agree to use the sum specified herein, subject to and in accordance with regulations applicable to the type of assistance indicated above, and requested payment of such sum. I agree to report to USDA any material adverse changes, financial or otherwise, that occur prior to loan closing. I certify that no part of the sum specified herein has been received. I have reviewed the loan approval requirements and comments associated with this loan request and agree to comply with these provisions. (For SFH & FP loans at eligible terms only) If this loan is approved, I elect the interest rate to be charged on my loan to be the lower of the interest rate in efl'cct at the time of approval or loan closing. If I check "NO", the interest rate charged on my loan will be the rate specified in Item 29 of this form. YES NO WARNING: Whoevery in any matter within thejurisdication of any department or agency of the United States knowingly and willfully falsifies, conccals or covcrs up by any tricky scheme, or device a matcrial fact, or makes any false, fictitious or fraudulent statements or representationsy or makes or uses any false writing or document knowing thc same to contain any falscy fictitious or fraudulent statement or entry, shall be fined under this title or imprisoned not more five years, or both." Date ,19_ CITY OF PARIS Date ,19- By: MtCHAEL PFIESTER, MA YOR 46. I HEREBY CERTIFY that all of the committee and administrative determinations and certifications required by regulations prerequisite to providing assistance of the type indicated above have been made and that evidence thereof is in the docket. and that all requirements of pertinent regulations have been complied with. 1 hereby approve the above-described assistance in the amount set forth above, and by this document, subject to the availability of funds, the Government agrees to advance such amount to the applicant for the purpose of and subject to the availability prescribed by regulations applicable to this type of assistance. (~Ignalure oJ Approvmg UJJlcial) Date Approved: Title 47. TO THE APPLICANT: As of this date this is notice that your application for financial assistance from the USDA has been approved, as indicated above, subject to the availability of funds and other conditions required by the USDA. If you have any questions contact the County Supervisor or District Director.