HomeMy Public PortalAbout1998-47 State Revolving Fund Loan (sewer collection, transmission system) amendment #1RESOLUTION NO. 98-47
A RESOLUTION OF THE VILLAGE OF KEY BISCAYNE,
FLORIDA; AUTHORIZING THE MAYOR TO EXECUTE
THE ATTACHED AMENDMENT #1 TO THE STATE
REVOLVING FUND LOAN AGREEMENT CS12085002P;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Village Ordinance No. 96-6, passed and adopted June 25, 1996, authorized the
execution of the Loan Application for the State Revolving Fund to finance a Village Sewer
Collection and Transmission System; and
WHEREAS, the State Revolving Fund Loan Agreement was executed by the Village and the
State of Florida on June 26, 1996; and
WHEREAS, the State of Florida Department of Environmental Protection Bureau of Water
Facilities Funding has requested that the Village execute proposed Amendment #1 to defer
repayment activities because the Village is expected to qualify for additional financing to construct
the facilities designed under the State Revolving Fund Loan Agreement as outlined in the attached
letter dated August 6, 1998.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF KEY
BISCAYNE AS FOLLOWS:
Section 1. The Mayor is hereby authorized to execute the attached Amendment #1 to the
State Revolving Fund Loan Agreement and any additional documents associated with the
aforementioned Loan Agreement.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 25th day of August, 1998
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NCHITA H. ALVAREZ, VILLAGE CLERK
APPROVED AS TO FORM AND LEGAL SUFFICINetOR11
RICHARD J. WEISS, VILLAGE ATTORNEY
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