HomeMy WebLinkAbout15844RESOLUTION NO. 15844 A RESOLUTION RELATING TO THE 2014 LOAN AGREEMENT WITH THE COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY AND REMOVING NANCY KELLER AND RONI KIMBREL AND APPOINTING ANDRA AHRENS AND DANNY NUNN AS THE AUTHORIZED OFFICERS UNDER SAID AGREEMENT WHEREAS, The City of Pueblo has entered into a Loan Agreement with the Colorado Wa and WHEREAS, PURSUANT TO Exhibit B of the Loan Agreement, the Wastewater Director and the Director of Finance were designated as the Authorized Officers, as defined in the Loan Agreement, for the purpose of performing any act or executing any document relating to the Government Agency Bond, Series 2014, or the Loan Agreement. WHEREAS, with the retirement of Nancy Keller from the position of Wastewater Director and the resignation of Roni Kimbrel from the position of Finance Director of the City of Pueblo, both individuals should be removed as Authorized Officers for the City of Pueblo with respect to the Loan Agreement; and WHEREAS, with the appointment of Andra Ahrens to the position of Wastewater Director and with the appointment of Danny Nunn to the position of Interim Finance Director of the City of Pueblo, both individuals should be appointed as Authorized Officers with the Colorado Water Resources & Power Development Authority pertaining to the Water Revenue Bonds 2014 Series A.; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that SECTION 1. The City hereby removes Nancy Keller and Roni Kimbrel and appoints Andra Ahrens, Wastewater Director, and Danny Nunn, Interim Finance Director, as Authorized Officers, as defined in the Loan Agreement, for the purpose of performing any act or executing any document relating to the Government Agency Bond, Series 2014, or the Loan Agreement. A copy of this Resolution shall be furnished to the Colorado Water Resources and Power Development Authority as evidence of such designation. SECTION 2. The officers and staff of the City are directed and authorized to perform any and all acts consistent with the intent of this Resolution and the attached agreement to effectuate the transactions described therein. SECTION 3. This Resolution shall become effective immediately upon passage and approval. INTRODUCED: December 9, 2024 BY: Brett Boston MEMBER OF CITY COUNCIL APPROVED: __________________________ PRESIDENT OF CITY COUNCIL ATTESTED BY: ________________________ CITY CLERK City Clerk's Office Item # M10 Background Paper for Proposed Resolution COUNCIL MEETING DATE: December 9, 2024 TO: President Mark Aliff and Members of City Council CC: Mayor Heather Graham VIA: Marisa Stoller, City Clerk FROM: Andra Ahrens, Director Wastewater SUBJECT: A RESOLUTION RELATING TO THE 2014 LOAN AGREEMENT WITH THE COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY AND REMOVING NANCY KELLER AND RONI KIMBREL AND APPOINTING ANDRA AHRENS AND DANNY NUNN AS THE AUTHORIZED OFFICERS UNDER SAID AGREEMENT SUMMARY: Attached is a resolution removing Nancy Keller, former Wastewater Director, and Roni Kimbrel, former Finance Director, as authorized officers to represent the City in matters pertaining to the current outstanding debt with the Colorado Water Resources & Power Development Authority, and appointing Andra Ahrens, Wastewater Director, and Danny Nunn, Interim Finance Director as authorized officers. PREVIOUS COUNCIL ACTION: On March 24, 2014, Ordinance No. 8707 was passed and approved by City Council to authorize the issuance of A Governmental Agency Bond for the purposes of financing certain improvements to the system. BACKGROUND: On January 31, 2022, Nancy Keller, Wastewater Director, retired from the City of Pueblo; Andra Ahrens has been appointed to the position of Wastewater Director. On February 28, 2019, Roni Kimbrel, Finance Director, resigned from the City of Pueblo, and the current Interim Finance Director is Danny Nunn. FINANCIAL IMPLICATIONS: There are no financial implications. BOARD/COMMISSION RECOMMENDATION: Not applicable STAKEHOLDER PROCESS: None ALTERNATIVES: There are no alternatives. Currently, the authorized officers on this loan are Nancy Keller, Wastewater Director and Roni Kimbrel, Finance Director, both of which are no longer associated with the City of Pueblo. RECOMMENDATION: Approval of the Resolution. ATTACHMENTS: None