HomeMy Public PortalAbout14-8788 FDLE in the amount of $11,120,499.00 for Waster Water Project Sponsored by: City Manager
RESOLUTION NO: 14-8788
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF OPA-LOCKA, FLORIDA, AUTHORIZING THE CITY
MANAGER TO ENTER INTO LOAN AGREEMENT WW-
13030, IN THE AMOUNT OF $11,120,499.00, WITH THE
FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION , RELATING TO THE STATE REVOLVING
FUND (SRF) LOAN PROGRAM FOR WASTE WATER
FACILITIES; PROVIDING INCORPORATION OF
RECITALS; PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, Florida law provides for loans to local government agencies to finance the
construction of water pollution control facilities; and
WHEREAS, Florida Administrative Code rules require authorization to apply for loans,to
establish pledged revenues, to designate an authorized representative, to provide assurances of
compliance with loan program requirement, and to enter into a loan agreement; and
WHEREAS,the State Revolving Fund(SRF)loan priority list designates Project No.WW
13030 Loan Number as eligible for available funding; and
WHEREAS, the City Commission of the City Opa-locka, Florida, desires to authorize the
City Manager to enter into a loan agreement with the Florida Department of Environmental
Protection, for project financing of waste water facilities with the State Revolving Fund(SRF).
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF OPA-LOCKA, FLORIDA AS, AS FOLLOWS:
Section 1. The recitals to the preamble herein are incorporated by reference.
Section 2. The City Commission of the City of Opa-locka hereby authorizes and directs
the City Manager to enter into Loan Agreement WW-13030,in the amount of$11,120,499.00,with
the Florida Department of Environmental Protection, relating to the State Revolving Fund (SRF)
loan program for project financing of waste water facilities.
Resolution No. 14-8788
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 11th day of April, 2014.
r
yra Ta for
Mayor
Attest:
41.#4 9
J f∎:nna Flores
ity Clerk
Approved as to form and legal sufficiency
tie": SQ,
(
J s 1s h .. Geller, Esquire
(a REE SPOON MARDER, PA
ity Attorney
Moved by: VICE MAYOR KELLEY
Seconded by: COMMISSIONER HOLMES
Commission Vote: 5-0
Commissioner Holmes: YES
Commissioner Johnson: YES
Commissioner Santiago: YES
Vice-Mayor Kelley: YES
Mayor Taylor: YES
., P-LOCR......�
UI a
•,.\114 i■_
O RAT fc�i
City of Opa-Locka
Agenda Cover M_ emo
Commission Meeting April 9,2014 Item Type: ° '
Date: X
(EnterXin box)
Fiscal Impact: Ordinance Reading: lit Reuling Zad Resoftg
(Enter X in box) Yes No (Enter X in box)
X Public Hearing: Yes No Yes No
(EnterXin box) X
Funding Source: (Enter Fund&Dept) Advertising Requirement: Yes No
(Enter Acct No.) State Revolving (EnterXin box)
Loan Waste Water
DFEP
Contract/P.O.Required: Yes No RFP/RFQ/Bid#:
(EnterXin box) X
Strategic Plan Related ,,y, ` Strategic Plan Priority Area: Strategic Plan Obj./Strategy: Out the
(Enter X in box) }{ specific objective/strategy this item will address)
Enhance Organizational
Bus.&Economic Dev Improve the quality clean water
Public Safety
Quality of Education and better protect public health
Qual.of Life&City Image
Communcation
Sponsor Name City Manager Department:CIP Grants/CIP
Short Title: ., " :w
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF OPA-LOCKA, FLORIDA,AUTHORIZING THE CITY MANAGER
TO ACCEPT AND EXECUTE THE STATE REVOLVING CLEAN WATER LOAN AGREEMENT FROM THE FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION FOR THE PLANNING AND IMPROVEMENTS OF THE CITY OF OPA-
LOCKA WASTE WATER FACILITIES IN THE AMOUNT OF$11,120,499.00
W:
The City of Opa-locka, through the significant instment of the Florida Department of Environment
Protection's have approved a loan of great value to our infrastructure that will enable us to install,
upgrade, and replace infrastructure to continue to ensure the provision of proper waste water and clean
water to their 15,529 residents, business owners, vendors, visitors and guests. Installation of new
treatment facilities can improve the quality of drinking water and better protect public health.
Improvements are also needed to help those water systems experiencing a threat of contamination due
to aging infrastructure systems.
Staff recommends the adoption of the Resolution to authorize the City Manager to execute the State
Revolving Loan Waste Water Loan agreement for our water facilities improvement supporting the crucial
efforts to improve the city's general water projects while providing quality of drinking water and
process water and protect public health.
Florida Department of Environmental Protection Loan Agreement for Wastewater Project# 130300
Prepared by: Delia Rosa Kennedy, Grant Administrator
Emailed to: Maqsood Mohammad Nasir, PE. City Engineer, Director of Capital Improvement Projects
Susan Liburd-Gooding, Director of Finance
Joanna Flores, City Clerk
Executive Secretary to the City Manager
OQp_LOCh
C �
a 9
' O
U D
fif 8® i�
Memorandum
TO: Mayor Myra L.Taylor
Vice Mayor Joseph L Kelly
Commissioner Dorothy"Dottie Johnson"
Commissioner Timothy 1
Commissioner uis B a
FROM: Kelvin L. Baker, Sr. City Mana r
DATE: April 9, 2014
RE: State Revolving Loan Agreement for Clean Water to improve our Waste Water
Facilities Projects
Request A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF OPA-LOCKA, FLORIDA,
AUTHORIZING THE CITY MANAGER TO EXCECUTE THE CLEAN WATER LOAN AGREEMENT WITH THE
STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION TO IMPROVE OUR WASTE
WATER FACILITIES IN THE AMOUNT OF$11,120,499.00
Description The City of Opa-locka, through the significant investment from the Florida Department of
Environmental Protection in support of our efforts to improve the city's drinking water projects, has
approved a loan of great value to our infrastructure that will enable us install, upgrade, and replace
infrastructure to continue to ensure the provision of safe drinking water to their 15,529 residents, business
owners, visitors and guests. Installation of new treatment facilities can improve the quality of drinking
water and better protect public health. Improvements are also needed to help those water systems
experiencing a threat of contamination due to aging infrastructure systems
Financial Impact: Net Operating Revenues of the City's Water and Sewer System
Implementation Time Lines Immediately upon commission approval 4 9 2014
Legislative History: Prior and Current State Revolving Loans
Recommendation(s). Staff is recommending the approval
Attachment(s): State Revolving Clean Water Loan Agreement for the Waste Water Projects 130300
END OF MEMORANDUM
From the desk of:
reenspoon _ LAW Joseph S. Geller, Esq.
Centre South, Suite
W.
Cypress Creek Road
888-491-1120 Fort Lauderdale, Florida 33309-2140
Phone: 954.491.1 120
www.gmlaw.com Fax: 954.771.9264
Direct Fax: 954.331.2037
Email:joseph.geiler @gmlaw.com
February 27, 2014
Tom Shiflet, P.E.
Program Administrator
Florida Department of Environmental Protection
State Revolving Fund Program
Division of Water Resource Management
Bob Martinez Center
2600 Blair Stone Road, M.S. 3505
Tallahassee, Florida 32399-2400
Re: Project Number WW-13030
Project Description-Waste Water Facilities
Dear Mr. Shiflet:
I am the duly appointed City Attorney for the City of Opa-locka. The City proposes to borrow
$11,120,499.00 from the State Revolving Fund for improvements to the City's waste water
facilities. The loan will be secured by the net operating revenues of the City's water and sewer
system, and tale proposed pledged revenues are unpledged and available to pledge. The City
of Opa-locka as the legal autho y to increase rates to ensure repayment of the loan.
Sin, -r-ly, - �)ii
i
i
fig
F riSON ARD R, '.A.
oseph S Geller, Esq.
City Attorneys
( bG/aI
c:\n rportbl\active\u617\17268877_1.d ocx
Aventura I Boca Raton I Ft. Lauderdale I Miami I Naples I Orlando I Port St. Lucie I Tampa I West Palm Beach
pi3OlKiP° RICK SCOTT
FLORIDA DEPARTMENT OF (O l RNOR
i , j �' q ENVIRONMENTAL PROTECTION
� � CAnos LOPE?CANTERA
`r BOB MARTINEZ CENTER LT.GOVERNOR
k 1 r ` ', ,; 2600 BLAIRSTONE ROAD
TALLAHASSEE, FLORIDA 32399-2400 HERSCHEL T.VINYARD.IR.
SECRETARY
April 9, 2014
Mr. Maqsood Mohammad Nasir, PE
City Engineer and CIP Director
City of Opa-locka
3400 NW 135th Street, Building B
Opa-locka, Florida 33054
Re: W W 130300 and SW 130320—City of Opa-locka
Major Sewer Rehabilitation and Stormwater Management Facilities
Dear Mr. Nasir:
Attached is a copy of each of the proposed State Revolving Fund loan agreements for the
City of Opa-locka's major sewer rehabilitation and stormwater management facilities
projects.
Please have the appropriate officials sign and seal three copies of each, and return
them to us within three weeks at 2600 Blair Stone Road, Mail Station 3505, Tallahassee,
Florida, 32399-2400. We will sign the documents and mail a fully executed original of
each to you. Please note that the Special Conditions listed in Section 10.08 of the
agreements must be provided before any funds can be released.
We appreciate your participation in the State Revolving Fund loan program. If you have
any questions about the loan agreements,please call Patty Hatcher at(850)245-8389.
Sincerely,
lk . 1. )6, At
II
Angela Knecht, Program Administrator
State Revolving Fund Management
AK/ph
Attachments
cc: Kelvin L. Baker, Sr. —City of Opa-locka
Delia Rosa Kennedy—City of Opa-locka
u1i>w(hp. iafe.11.us
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
AND
CITY OF OPA-LOCKA,FLORIDA
CLEAN WATER STATE REVOLVING FUND
LOAN AGREEMENT
WW130300
Florida Department of Environmental Protection
State Revolving Fund Program
Bob Martinez Center
2600 Blair Stone Road, MS 3505
Tallahassee, Florida 32399-2400
CLEAN WATER STATE REVOLVING FUND LOAN AGREEMENT
CONTENTS PAGE
ARTICLE I-DEFINITIONS 1
1.01. WORDS AND TERMS. 1
1.02. CORRELATIVE WORDS. 3
ARTICLE II - WARRANTIES, REPRESENTATIONS AND COVENANTS 3
2.01. WARRANTIES, REPRESENTATIONS AND COVENANTS. 3
2.02. LEGAL AUTHORIZATION. 5
2.03.AUDIT AND MONITORING REQUIREMENTS. 5
ARTICLE III- LOAN REPAYMENT ACCOUNT 8
3.01. LOAN DEBT SERVICE ACCOUNT. 8
3.02. INVESTMENT OF LOAN DEBT SERVICE ACCOUNT MONEYS. 8
3.03. LOAN DEBT SERVICE ACCOUNT WITHDRAWALS. 9
3.04. ASSETS HELD IN TRUST. 9
ARTICLE IV-PROGRAM INFORMATION 9
4.01. RESERVED 9
4.02. RESERVED 9
4.03. RESERVED. 9
4.04. RESERVED. 9
4.05. PROHIBITION AGAINST ENCUMBRANCES. 9
4.06. COMPLETION MONEYS. 9
4.07. CLOSE-OUT. 9
4.08. LOAN DISBURSEMENTS. 10
ARTICLE V -RATES AND USE OF THE WATER AND SEWER SYSTEMS 10
5.01. RATE COVERAGE. 10
5.02.NO FREE SERVICE. 10
5.03. MANDATORY CONNECTIONS. 10
5.04.NO COMPETING SERVICE. 10
5.05. MAINTENANCE OF THE WATER AND SEWER SYSTEMS. 10
5.06. ADDITIONS AND MODIFICATIONS. 11
5.07. COLLECTION OF REVENUES. 11
ARTICLE VI-DEFAULTS AND REMEDIES 11
6.01. EVENTS OF DEFAULT. 11
6.02. REMEDIES. 12
6.03. DELAY AND WAIVER. 13
ARTICLE VII -THE PLEDGED REVENUES 13
7.01. SUPERIORITY OF THE PLEDGE TO THE DEPARTMENT. 13
7.02. ADDITIONAL DEBT OBLIGATIONS. 13
ARTICLE VIII -GENERAL PROVISIONS 13
i
CLEAN WATER STATE REVOLVING FUND LOAN AGREEMENT
CONTENTS PAGE
8.01. DISCHARGE OF OBLIGATIONS. 13
8.02.RECORDS AND STATEMENTS. 14
8.03.ACCESS TO WORK SITE. 14
8.04.ASSIGNMENT OF RIGHTS UNDER AGREEMENT. 14
8.05.AMENDMENT OF AGREEMENT. 14
8.06.ANNULMENT OF AGREEMENT. 14
8.07. SEVERABILITY CLAUSE. 15
8.08.USE AS MATCHING FUNDS. 15
8.09.RESERVED. 15
ARTICLE IX- RESERVED 15
ARTICLE X -DETAILS OF FINANCING 15
10.01. PRINCIPAL AMOUNT OF LOAN. 15
10.02. LOAN SERVICE FEE. 15
10.03. FINANCING RATE. 16
10.04. LOAN TERM. 16
10.05. REPAYMENT SCHEDULE. 16
10.06. PROJECT RELATED COSTS. 16
10.07. SCHEDULE. 17
10.08. SPECIAL CONDITIONS. 17
ARTICLE XI -EXECUTION OF AGREEMENT 18
ii
CLEAN WATER STATE REVOLVING FUND LOAN AGREEMENT
WW130300
THIS AGREEMENT is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and the CITY OF OPA-LOCKA,
FLORIDA, (Local Government) existing as a local governmental agency under the laws of the
State of Florida.
WITNESSETH:
WHEREAS, pursuant to Section 403.1835,Florida Statutes, and Chapter 62-503, Laws of
Florida,the Department is authorized to make loans to local governmental agencies to finance
the planning of wastewater pollution control facilities; and
WHEREAS, funding is provided from the State Revolving Fund program repayments and
interest,which are Federally protected but which are subject to state audit requirements; and
WHEREAS, the Local Government has made application for the financing of Planning
Activities, and the Department has determined that all requirements for a loan have been met.
NOW,THEREFORE, in consideration of the Department loaning money to the Local
Government, in the principal amount and pursuant to the covenants hereinafter set forth, it is
agreed as follows:
ARTICLE I -DEFINITIONS
1.01. WORDS AND TERMS.
Words and terms used herein shall have the meanings set forth below:
(1) "Agreement" or"Loan Agreement" shall mean this agreement.
(2) "Authorized Representative"shall mean the official of the Local Government
authorized by ordinance or resolution to sign documents associated with the Loan.
(3) "Capitalized Interest"shall mean a finance charge that accrues at the Financing Rate
on Loan proceeds from the time of disbursement until six months before the first Semiannual
Loan Payment is due. Capitalized Interest is financed as part of the Loan principal.
(4) "Construction Related Costs" shall mean costs for Project construction, equipment,
materials, demolition, contingency, legal and technical services incurred after construction bid
opening, and Capitalized Interest associated with the foregoing costs.
(5) "Depository" shall mean a bank or trust company, having a combined capital and
unimpaired surplus of not less than$50 million, authorized to transact commercial banking or
savings and loan business in the State of Florida and insured by the Federal Deposit Insurance
Corporation.
1
(6) "Financing Rate" shall mean the charges, expressed as a percent per annum, imposed
on the unpaid principal of the Loan. The Financing Rate shall consist of an interest rate
component and a Grant Allocation Assessment rate component.
(7) "Grant Allocation Assessment" shall mean an assessment, expressed as a percent per
annum, accruing on the unpaid balance of the Loan. It is computed similarly to the way interest
charged on the Loan is computed and is included in the Semiannual Loan Payment. The
Department will use Grant Allocation Assessment moneys for making grants to financially
disadvantaged small communities pursuant to Section 403.1835 of the Florida Statutes.
(8) "Gross Revenues" shall mean all income or earnings received by the Local
Government from the ownership or operation of its Water and Sewer Systems, including
investment income, all as calculated in accordance with generally accepted accounting
principles. Gross Revenues shall not include proceeds from the sale or other disposition of any
part of the Water or Sewer System, condemnation awards or proceeds of insurance, except use
and occupancy or business interruption insurance, received with respect to the Water or Sewer
System.
(9) "Loan" shall mean the amount of money to be loaned pursuant to this Agreement
and subsequent amendments.
(10)"Loan Application" shall mean the completed form which provides all information
required to support obtaining loan financial assistance from the Department.
(11)"Loan Debt Service Account"shall mean an account, or a separately identified
component of a pooled cash or liquid account, with a Depository established by the Local
Government for the purpose of accumulating Monthly Loan Deposits and making Semiannual
Loan Payments.
(12)"Loan Service Fee" shall mean an origination fee which shall be paid to the
Department by the Local Government.
(13)"Monthly Loan Deposit" shall mean the monthly deposit to be made by the Local
Government to the Loan Debt Service Account.
(14)"Operation and Maintenance Expense" shall mean the costs of operating and
maintaining the Water and Sewer Systems determined pursuant to generally accepted accounting
principles, exclusive of interest on any debt payable from Gross Revenues, depreciation, and any
other items not requiring the expenditure of cash.
(15)"Pledged Revenues" shall mean the specific revenues pledged as security for
repayment of the Loan and shall be the Gross Revenues derived yearly from the operation of the
Water and Sewer Systems after payment of the Operation and Maintenance Expense and the
satisfaction of all yearly payment obligations on account of any senior obligations issued
pursuant to Section 7.02 of this Agreement.
2
(16)"Planning Activities" shall mean the planning or administrative work necessary for
the Local Government to qualify for Clean Water State Revolving Fund financing for
construction of wastewater transmission, collection, reuse, and treatment facilities.
(17)"Project"shall mean the construction of facilities planned through Planning
Activities. The Project may shall be defined more specifically if the Agreement is amended.
(18)"Semiannual Loan Payment"shall mean the payment due from the Local
Government to the Department at six-month intervals.
(19)"Sewer System" shall mean all facilities owned by the Local Government for
collection,transmission, treatment and reuse of wastewater and its residuals.
(20)"Water System"shall mean all facilities owned by the Local Government for
supplying and distributing water for residential, commercial, industrial, and governmental use.
1.02. CORRELATIVE WORDS.
Words of the masculine gender shall be understood to include correlative words of the
feminine and neuter genders. Unless the context shall otherwise indicate, the singular shall
include the plural and the word "person"shall include corporations and associations, including
public bodies, as well as natural persons.
ARTICLE II - WARRANTIES, REPRESENTATIONS AND COVENANTS
2.01. WARRANTIES, REPRESENTATIONS AND COVENANTS.
The Local Government warrants,represents and covenants that:
(1) The Local Government has full power and authority to enter into this Agreement and
to comply with the provisions hereof.
(2) The Local Government currently is not the subject of bankruptcy, insolvency, or
reorganization proceedings and is not in default of, or otherwise subject to, any agreement or any
law, administrative regulation,judgment, decree, note, resolution, charter or ordinance which
would currently restrain or enjoin it from entering into, or complying with, this Agreement.
(3) There is no material action, suit, proceeding, inquiry or investigation, at law or in
equity, before any court or public body, pending or, to the best of the Local Government's
knowledge, threatened,which seeks to restrain or enjoin the Local Government from entering
into or complying with this Agreement.
(4) The Local Government knows of no reason why any future required permits or
approvals associated with the Project are not obtainable.
(5) The Local Government shall undertake Planning Activities and the Project on its
own responsibility, to the extent permitted by law.
3
(6) To the extent permitted by law,the Local Government shall release and hold
harmless the State, its officers, members,and employees from any claim arising in connection
with the Local Government's actions or omissions in its planning or administrative activities
financed by this Loan or in its operation of Project facilities.
(7) All Local Government representations to the Department, pursuant to the Loan
Application and Agreement,were true and accurate as of the date such representations were
made. The financial information delivered by the Local Government to the Department was
current and correct as of the date such information was delivered. The Local Government shall
comply with Chapter 62-503, Florida Administrative Code, and all applicable State and Federal
laws, rules, and regulations which are identified in the Loan Application or Agreement. To the
extent that any assurance,representation,or covenant requires a future action,the Local
Government shall take such action as is necessary for compliance.
(8) The Local Government shall maintain records using generally accepted accounting
principles established by the Governmental Accounting Standards Board. As part of its
bookkeeping system,the Local Government shall keep accounts of the Water and Sewer Systems
separate from all other accounts and it shall keep accurate records of all revenues, expenses, and
expenditures relating to the Water and Sewer Systems, and of the Pledged Revenues, Loan
disbursement receipts, and Loan Debt Service Account.
(9) In the event the anticipated Pledged Revenues are shown by the Local Government's
annual budget to be insufficient to make the Semiannual Loan Payments for such Fiscal Year
when due,the Local Government shall include in such budget other legally available non-ad
valorem funds which will be sufficient, together with the Pledged Revenues, to make the
Semiannual Loan Payments. Such other legally available non-ad valorem funds shall be
budgeted in the regular annual governmental budget and designated for the purpose provided by
this Subsection, and the Local Government shall collect such funds for application as provided
herein. The Local Government shall notify the Department immediately in writing of any such
budgeting of other legally available non-ad valorem funds. Nothing in this covenant shall be
construed as creating a pledge, lien, or charge upon any such other legally available non-ad
valorem funds; requiring the Local Government to levy or appropriate ad valorem tax revenues;
or preventing the Local Government from pledging to the payment of any bonds or other
obligations all or any part of such other legally available non-ad valorem funds.
(10)Each year, beginning three months before the first Semiannual Loan Payment and
ending with the year during which the final Loan repayment is made, the Local Government's
Authorized Representative or its chief financial officer shall submit, no later than the date
established in Section 10.07, a certification that: (a)Pledged Revenue collections satisfy, on a
pro rata basis,the rate coverage requirement; (b)the Loan Debt Service Account contains the
funds required; and(c) insurance, including that issued through the National Flood Insurance
Program authorized under 42 U.S.C. secs. 4001-4128 when applicable, in effect for the facilities
generating the Pledged Revenues, adequately covers the customary risks to the extent that such
insurance is available.
4
(11)Pursuant to Section 216.347 of the Florida Statutes,the Local Government shall not
use the Loan proceeds for the purpose of lobbying the Florida Legislature, the Judicial Branch,
or a State agency.
(12)The Local Government agrees to complete the Planning Activities and, if included
by an amendment to this Agreement,the Project, in accordance with the Planning Activities
schedule set forth in Section 10.07 and a Project schedule added by amendment to this
Agreement. Delays incident to strikes, riots, acts of God, and other events beyond the reasonable
control of the Local Government are excepted. However, there shall be no resulting diminution
or delay in the Semiannual Loan Payment or the Monthly Loan Deposit.
(13)The Local Government covenants that this Agreement is entered into for the purpose
of completing planning or administrative activities in order to construct facilities which will, in
all events, serve a public purpose.
2.02. LEGAL AUTHORIZATION.
Upon signing this Agreement, the Local Government's legal counsel hereby expresses
the opinion, subject to laws affecting the rights of creditors generally, that:
(1) This Agreement has been duly authorized by the Local Government and shall
constitute a valid and legal obligation of the Local Government enforceable in accordance with
its terms upon execution by both parties; and
(2) This Agreement specifies the revenues pledged for repayment of the Loan, and the
pledge is valid and enforceable.
2.03. AUDIT AND MONITORING REQUIREMENTS.
The Local Government agrees to the following audit and monitoring requirements.
Funds provided under this Agreement have been identified as second-tier monies under
the Federal Clean Water Act which are identified as state funds whose use is federally protected.
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State Resources Awarded to the Local Government Pursuant to this Agreement Consist of the
Following Resources Subject to Section 215.97, F.S.: _
State State
Program CSFA CSFA Title or Fund Funding Appropriation
Number Funding Source Number Source Description Amount Category
Wastewater Statewide Surface
Original Treatment and 37 077 Water Restoration $512,806 140131
Agreement Stormwater and Wastewater
Management TF Projects
5
(2) Audits.
(a) In the event that the Local Government expends a total amount of state financial
assistance equal to or in excess of$500,000 in any fiscal year of such Local Government, the
Local Government must have a State single audit for such fiscal year in accordance with Section
215.97, Florida Statutes; applicable rules of the Department of Financial Services; and Chapters
10.550 (local governmental entities) or 10.650(nonprofit and for-profit organizations), Rules of
the Auditor General. In determining the state financial assistance expended in its fiscal year,the
Local Government shall consider all sources of state financial assistance, including state
financial assistance received from the Department of Environmental Protection, other state
agencies, and other nonstate entities. State financial assistance does not include Federal direct or
pass-through awards and resources received by a nonstate entity for Federal program matching
requirements.
(b) In connection with the audit requirements addressed in the preceding paragraph (a);
the Local Government shall ensure that the audit complies with the requirements of Section
215.97(7), Florida Statutes. This includes submission of a financial reporting package as defined
by Section 215.97(2),Florida Statutes, and Chapters 10.550 (local governmental entities) or
10.650 (nonprofit and for-profit organizations), Rules of the Auditor General.
(c) If the Local Government expends less than$500,000 in state financial assistance in its
fiscal year, an audit conducted in accordance with the provisions of Section 215.97, Florida
Statutes, is not required. The Local Government shall inform the Department of findings and
recommendations pertaining to the State Revolving Fund in audits conducted by the Local
Government in which the $500,000 threshold has not been met. In the event that the Local
Government expends less than $500,000 in state financial assistance in its fiscal year, and elects
to have an audit conducted in accordance with the provisions of Section 215.97, Florida Statutes,
the cost of the audit must be paid from the non-state entity's resources (i.e., the cost of such an
audit must be paid from the Local Government's resources obtained from other than State
entities).
(d) For information regarding the Florida Catalog of State Financial Assistance (CSFA),
a Local Government should access the Florida Single Audit Act website located at
https://apps.fldfs.com/fsaa for assistance. In addition to the above websites,the following
websites may be accessed for information: Legislature's Website at
http://www.leg.state.fl.us/Welcome/index.cfm, State of Florida's website at
http://www.mvflorida.com/, Department of Financial Services' Website at http://www.fldfs.com/
and the Auditor General's Website at http://www.state.fl.us/audgen.
(3) Report Submission.
(a) Copies of financial reporting packages shall be submitted by or on behalf of the
Local Government directly to each of the following:
(i) The Department at the following address:
6
Valerie Peacock, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS 41
Tallahassee, Florida 32399-3123
(ii) The Auditor General's Office at the following address:
State of Florida Auditor General
Room 401, Claude Pepper Building
111 West Madison Street
Tallahassee, Florida 32399-1450
(iii)Copies of reports or management letters shall be submitted by or on behalf of the
Local Government directly to the Department of Environmental Protection at the following
address:
Valerie Peacock, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard,MS 41
Tallahassee,Florida 32399-3123
(b) Any reports, management letters, or other information required to be submitted to the
Department pursuant to this Agreement shall be submitted timely in accordance with Florida
Statutes, or Chapters 10.550 (local governmental entities) or 10.650 (nonprofit and for-profit
organizations), Rules of the Auditor General, as applicable.
(c) Local Governments,when submitting financial reporting packages to the Department
for audits done in accordance with Chapters 10.550 (local governmental entities) or 10.650
(nonprofit and for-profit organizations), Rules of the Auditor General, should indicate the date
that the reporting package was delivered to the Local Government in correspondence
accompanying the reporting package.
(4) Record Retention.
The Local Government shall retain sufficient records demonstrating its compliance with
the terms of this Agreement for a period of five years from the date the audit report is issued, and
shall allow the Department, or its designee, Chief Financial Officer, or Auditor General access to
such records upon request. The Local Government shall ensure that audit working papers are
made available to the Department, or its designee, Chief Financial Officer, or Auditor General
upon request for a period of five years from the date the audit report is issued, unless extended in
writing by the Department.
The Local Government is hereby advised that the Florida Single Audit Act Requirements
may further apply to lower tier transactions that may be a result of this Agreement.
7
The Local Government should confer with its chief financial officer, audit director or
contact the Department for assistance with questions pertaining to the applicability of these
requirements.
(5) Monitoring.
In addition to reviews of audits conducted in accordance with Section 215.97, F.S., as
revised monitoring procedures may include, but not be limited to, on-site visits by Department
staff and/or other procedures. By entering into this Agreement,the Local Government agrees to
comply and cooperate with any monitoring procedures/processes deemed appropriate by the
Department of Environmental Protection. In the event the Department of Environmental
Protection determines that a limited scope audit of the Local Government is appropriate, the
Local Government agrees to comply with any additional instructions provided by the Department
to the Local Government regarding such audit. The Local Government further agrees to comply
and cooperate with any inspections, reviews, investigations, or audits deemed necessary by the
Chief Financial Officer or Auditor General.
ARTICLE III -LOAN REPAYMENT ACCOUNT
3.01. LOAN DEBT SERVICE ACCOUNT.
The Local Government shall establish a Loan Debt Service Account with a Depository
and begin making Monthly Loan Deposits no later than the date set forth in Section 10.07 unless
the date is revised by amendment of this Agreement.
Beginning six months prior to each Semiannual Loan Payment,the Local Government
shall make six Monthly Loan Deposits. The first five deposits each shall be at least equal to one-
sixth of the Semiannual Loan Payment. The sixth Monthly Loan Deposit shall be at least equal
to the amount required to make the total on deposit in the Loan Debt Service Account equal to
the Semiannual Loan Payment amount, taking into consideration investment earnings credited to
the account pursuant to Section 3.02.
Any month in which the Local Government fails to make a required Monthly Loan
Deposit,the Local Government's chief financial officer shall notify the Department of such
failure. In addition,the Local Government agrees to budget, by amendment if necessary,
payment to the Department from other legally available non-ad valorem funds all sums
becoming due before the same become delinquent. This requirement shall not be construed to
give superiority to the Department's claim on any revenues over prior claims of general creditors
of the Local Government, nor shall it be construed to give the Department the power to require
the Local Government to levy and collect any revenues other than Pledged Revenues.
3.02. INVESTMENT OF LOAN DEBT SERVICE ACCOUNT MONEYS.
Moneys on deposit in the Loan Debt Service Account shall be invested pursuant to the
laws of the State of Florida. Such moneys may be pooled for investment purposes. The maturity
or redemption date of investments shall be not later than the date upon which such moneys may
be needed to make Semiannual Loan Payments. The investment earnings shall be credited to the
Loan Debt Service Account and applied toward the Monthly Loan Deposit requirements.
8
3.03. LOAN DEBT SERVICE ACCOUNT WITHDRAWALS.
The withdrawal of moneys from the Loan Debt Service Account shall be for the sole
purpose of making the Semiannual Loan Payment or for discharging the Local Government's
obligations pursuant to Section 8.01.
3.04. ASSETS HELD IN TRUST.
The assets in all accounts created under this Loan Agreement shall be held in trust for the
purposes provided herein and used only for the purposes and in the manner prescribed in this
Agreement; and, pending such use, said assets shall be subject to a lien and charge in favor of the
Department.
ARTICLE IV -PROGRAM INFORMATION
4.01. RESERVED
4.02. RESERVED
4.03. RESERVED.
4.04. RESERVED.
4.05. PROHIBITION AGAINST ENCUMBRANCES.
The Local Government is prohibited from selling, leasing, or disposing of any part of the
Water or Sewer System which would materially reduce operational integrity or Gross Revenues
so long as this Agreement, including any amendment thereto, is in effect unless the written
consent of the Department is first secured.
4.06. COMPLETION MONEYS.
In addition to the proceeds of this or subsequent loans,the Local Government covenants
that it has obtained, or will obtain, sufficient moneys from other sources to complete the
Planning Activities. The Local Government also covenants that if additional Loan financing is
provided for Construction Related Costs by amendment of this Agreement, it will obtain
sufficient moneys from other sources as necessary to complete the Project.
4.07. CLOSE-OUT.
The Department may conduct a final inspection of the Planning Activities records, or if
this Agreement is amended to fund Construction Related Costs,the Department shall conduct a
final inspection of the Project records. Following the inspection, deadlines for submitting
additional disbursement requests, if any, shall be established, along with deadlines for
uncompleted Loan requirements, if any. After the Department establishes the final Planning
Activities costs to be financed by the Loan,the amount may be adjusted by amendment. The
Loan principal shall be reduced by any excess over the amount required to pay the approved
9
costs. As a result of such adjustment, the Semiannual Loan Payment shall be reduced
accordingly, as addressed in Section 10.05.
4.08. LOAN DISBURSEMENTS.
Disbursements shall be made only by the State Chief Financial Officer and only when the
requests for such disbursements are accompanied by a Department certification that such
withdrawals are proper expenditures. Disbursements shall be made directly to the Local
Government for reimbursement of allowable invoiced costs. Requests by the Local Government
for disbursements of the Planning funds shall be made using the Department's disbursement
request form. The Department reserves the right to retain 25%of the funds until the information
necessary for the Department to prepare the Environmental Assessment as described in Chapter
62-503.751 Florida Administrative Code, have been met.
ARTICLE V- RATES AND USE OF THE WATER AND SEWER SYSTEMS
5.01. RATE COVERAGE.
The Local Government shall maintain rates and charges for the services furnished by the
Water and Sewer Systems which will be sufficient to provide, in each Fiscal Year, Pledged
Revenues equal to or exceeding 1.15 times the sum of the Semiannual Loan Payments due in
such Fiscal Year. In addition, the Local Government shall satisfy the coverage requirements of
all senior and parity debt obligations.
5.02. NO FREE SERVICE.
The Local Government shall not permit connections to, or furnish any services afforded
by, the Water or Sewer System without making a charge therefore based on the Local
Government's uniform schedule of rates, fees, and charges.
5.03. MANDATORY CONNECTIONS.
The Local Government shall adopt,as necessary, and enforce requirements, consistent
with applicable laws, for the owner,tenant or occupant of each building located on a lot or parcel
of land which is served, or may reasonably be served, by the Sewer System to connect such
building to the Sewer System.
5.04. NO COMPETING SERVICE.
The Local Government shall not allow any person to provide any services which would
compete with the Water or Sewer System so as to materially and adversely affect Gross
Revenues.
5.05. MAINTENANCE OF THE WATER AND SEWER SYSTEMS.
The Local Government shall operate and maintain the Water and Sewer Systems in a
proper, sound and economical manner and shall make all necessary repairs, renewals and
replacements.
10
5.06.ADDITIONS AND MODIFICATIONS.
The Local Government may make any additions, modifications or improvements to the
Water and Sewer Systems which it deems desirable and which do not materially reduce the
operational integrity of any part of the Water or Sewer System. All such renewals, replacements,
additions, modifications and improvements shall become part of the Water and Sewer Systems.
5.07. COLLECTION OF REVENUES.
The Local Government shall use its best efforts to collect all rates, fees and other charges
due to it. The Local Government shall establish liens on premises served by the Water or Sewer
System for the amount of all delinquent rates, fees and other charges where such action is
permitted by law. The Local Government shall, to the full extent permitted by law, cause to
discontinue the services of the Water and Sewer Systems and use its best efforts to shut off water
service furnished to persons who are delinquent beyond customary grace periods in the payment
of Water and Sewer Systems rates, fees and other charges.
ARTICLE VI -DEFAULTS AND REMEDIES
6.01. EVENTS OF DEFAULT.
Each of the following events is hereby declared an event of default:
(1) Failure to make any Monthly Loan Deposit or to make any installment of the
Semiannual Loan Payment when it is due and such failure shall continue for a period of 30 days.
(2) Except as provided in Subsections 6.01(1) and(7), failure to comply with the
provisions of this Agreement or failure in the performance or observance of any of the covenants
or actions required by this Agreement and such failure shall continue for a period of 60 days
after written notice thereof to the Local Government by the Department.
(3) Any warranty, representation or other statement by, or on behalf of, the Local
Government contained in this Agreement or in any information furnished in compliance with, or
in reference to, this Agreement, which is false or misleading.
(4) An order or decree entered, with the acquiescence of the Local Government,
appointing a receiver of any part of the Water or Sewer System or Gross Revenues thereof; or if
such order or decree, having been entered without the consent or acquiescence of the Local
Government, shall not be vacated or discharged or stayed on appeal within 60 days after the
entry thereof.
(5) Any proceeding instituted, with the acquiescence of the Local Government, for the
purpose of effecting a composition between the Local Government and its creditors or for the
purpose of adjusting the claims of such creditors, pursuant to any federal or state statute now or
hereafter enacted, if the claims of such creditors are payable from Gross Revenues of the Water
or Sewer System.
11
(6) Any bankruptcy, insolvency or other similar proceeding instituted by or against, the
Local Government under federal or state bankruptcy or insolvency law now or hereafter in effect
and, if instituted against the Local Government, is not dismissed within 60 days after filing.
(7) Failure of the Local Government to give immediate written notice of default to the
Department and such failure shall continue for a period of 30 days.
6.02. REMEDIES.
Upon an event of default and subject to the rights of others having prior liens on the
Pledged Revenues, the Department may enforce its rights by any of the following remedies:
(1) By mandamus or other proceeding at law or in equity, cause to establish rates and
collect fees and charges for use of the Water and Sewer Systems, and to require the Local
Government to fulfill this Agreement.
(2) By action or suit in equity, require the Local Government to account for all moneys
received from the Department or from the ownership of the Water and Sewer Systems and to
account for the receipt, use, application, or disposition of the Pledged Revenues.
(3) By action or suit in equity, enjoin any acts or things which may be unlawful or in
violation of the rights of the Department.
(4) By applying to a court of competent jurisdiction, cause to appoint a receiver to
manage the Water and Sewer Systems, establish and collect fees and charges, and apply the
revenues to the reduction of the obligations under this Agreement.
(5) By certifying to the Auditor General and the Chief Financial Officer delinquency on
Loan repayments,the Department may intercept the delinquent amount plus a penalty from any
unobligated funds due to the Local Government under any revenue or tax sharing fund
established by the State, except as otherwise provided by the State Constitution. The Department
may impose a penalty in an amount not to exceed an interest rate of 18 percent per annum on the
amount due in addition to charging the cost to handle and process the debt. Penalty interest shall
accrue on any amount due and payable beginning on the 30th day following the date upon which
payment is due.
(6) By notifying financial market credit rating agencies and potential creditors.
(7) By suing for payment of amounts due, or becoming due, with interest on overdue
payments together with all costs of collection, including attorneys' fees.
(8) By accelerating the repayment schedule or increasing the Financing Rate on the
unpaid principal of the Loan to as much as 1.667 times the Financing Rate for a default under
Subsection 6.01(1).
12
6.03. DELAY AND WAIVER.
No delay or omission by the Department to exercise any right or power accruing upon an
event of default shall impair any such right or power or shall be construed to be a waiver of any
such default or acquiescence therein, and every such right and power may be exercised as often
as may be deemed expedient. No waiver or any default under this Agreement shall extend to or
affect any subsequent event of default,whether of the same or different provision of this
Agreement, or shall impair consequent rights or remedies.
ARTICLE VII -THE PLEDGED REVENUES
7.01. SUPERIORITY OF THE PLEDGE TO THE DEPARTMENT.
From and after the effective date of this Agreement, the Department shall have a lien on
the Pledged Revenues, which along with any other Department State Revolving Fund liens on
the Pledged Revenues, on equal priority,will be prior and superior to any other lien, pledge or
assignment with the following exception. All obligations of the Local Government under this
Agreement shall be junior, inferior, and subordinate in all respects in right of payment and
security to any additional senior obligations issued with the Department's consent pursuant to
Section 7.02. Any of the Pledged Revenues may be released from the lien on such Pledged
Revenues in favor of the Department if the Department makes a determination, based upon facts
deemed sufficient by the Department, that the remaining Pledged Revenues will, in each Fiscal
Year, equal or exceed 1.15 times the debt service coming due in each Fiscal Year under the
terms of this Agreement.
7.02. ADDITIONAL DEBT OBLIGATIONS.
The Local Government may issue additional debt obligations on a parity with, or senior
to,the lien of the Department on the Pledged Revenues provided the Department's written
consent is obtained. Such consent may be granted if the Local Government demonstrates at the
time of such issuance that the Pledged Revenues, which may take into account reasonable
projections of growth of the Water and Sewer Systems and revenue increases, plus revenues to
be pledged to the additional proposed debt obligations will, during the period of time Semiannual
Loan Payments are to be made under this Agreement, equal or exceed 1.15 times the annual
combined debt service requirements of this Agreement and the obligations proposed to be issued
by the Local Government and will satisfy the coverage requirements of all other debt obligations
secured by the Pledged Revenues.
ARTICLE VIII -GENERAL PROVISIONS
8.01. DISCHARGE OF OBLIGATIONS.
All payments required to be made under this Agreement shall be cumulative and any
deficiencies in any Fiscal Year shall be added to the payments due in the succeeding year and all
years thereafter until fully paid. Payments shall continue to be secured by this Agreement until
all of the payments required shall be fully paid to the Department. If, at any time,the Local
Government shall have paid, or shall have made provision for the timely payment of,the entire
principal amount of the Loan, and as applicable,Loan Service Fee, interest, and Grant Allocation
13
Assessment charges, the pledge of, and lien on,the Pledged Revenues to the Department shall be
no longer in effect. Deposit of sufficient cash, securities, or investments, authorized by law,
from time to time, may be made to effect defeasance of this Loan. However, the deposit shall be
made in irrevocable trust with a banking institution or trust company for the sole benefit of the
Department. There shall be no penalty imposed by the Department for early retirement of this
Loan.
8.02. RECORDS AND STATEMENTS.
Books, records, reports, engineering documents, contract documents, and papers shall be
available to the authorized representatives of the Department and the U.S. Environmental
Protection Agency's Inspector General for inspection at any reasonable time after the Local
Government has received a disbursement and until five years after the date that the Project-
specific audit report, required under Subsection 2.03(4), is issued.
8.03. ACCESS TO WORK SITE.
The Local Government shall provide access to offices and other sites where Planning
Activities or Project work (if financed by this Loan) is ongoing, or has been performed, to
authorized representatives of the Department at any reasonable time. The Local Government
shall cause its engineers and contractors to provide copies of relevant records and statements for
inspection.
8.04. ASSIGNMENT OF RIGHTS UNDER AGREEMENT.
The Department may assign any part of its rights under this Agreement after notification
to the Local Government. The Local Government shall not assign rights created by this
Agreement without the written consent of the Department.
8.05. AMENDMENT OF AGREEMENT.
This Agreement may be amended, except that no amendment shall be permitted which is
inconsistent with statutes, rules, regulations, executive orders, or written agreements between the
Department and the U.S. Environmental Protection Agency. A final amendment establishing the
final costs financed by this Loan and the actual Loan Service Fee shall be completed after the
Department's final inspection of relevant documents and records.
8.06. ANNULMENT OF AGREEMENT.
The Department may unilaterally annul this Agreement if the Local Government has not
drawn any of the Loan proceeds within eighteen months after the effective date of this
Agreement. If the Department unilaterally annuls this Agreement, the Department will provide
written notification to the Local Government.
14
8.07. SEVERABILITY CLAUSE.
If any provision of this Agreement shall be held invalid or unenforceable,the remaining
provisions shall be construed and enforced as if such invalid or unenforceable provision had not
been contained herein.
8.08. USE AS MATCHING FUNDS.
The U.S. Environmental Protection Agency has provided a class deviation from the
provisions of 40 CFR 35.3125(b)(1)to allow these second tier funds to be used as local matching
requirements for most EPA grant funded treatment works projects, including special
Appropriations Act projects.
8.09. RESERVED.
ARTICLE IX-RESERVED
ARTICLE X - DETAILS OF FINANCING
10.01. PRINCIPAL AMOUNT OF LOAN.
The principal amount of the Loan is$521,906,which includes $512,806 to be disbursed
to the Local Government and $9,100 of Capitalized Interest.
Capitalized Interest is not disbursed to the Local Government, but is amortized via
periodic Loan repayments to the Department as if it were actually disbursed. Capitalized Interest
is computed at the Financing Rate, or rates, set for the Loan. It accrues and is compounded
annually from the time when disbursements are made until six months before the first
Semiannual Loan Payment is due. Capitalized Interest is estimated prior to establishment of the
schedule of actual disbursements.
10.02. LOAN SERVICE FEE.
The Loan Service Fee is estimated as $10,256 for the Loan amount authorized to date.
The fee represents two percent of the Loan amount excluding Capitalized Interest;that is, two
percent of$512,806. The fee shall be revised with any increase or decrease amendment. The
Loan Service Fee shall be based on actual Project costs and will be assessed in the final Loan
amendment. The Local Government shall pay the Loan Service Fee from the first available
repayments following the final amendment.
Capitalized Interest is computed on the assessed Loan Service Fee at the Financing Rate,
or rates and included in the final amendment. It accrues and is compounded annually from the
final amendment date until six months before the first Semiannual Loan Payment is due. A
service fee assessed in a final amendment occurring later than six months before the first
Semiannual Loan Payment date would not accrue Capitalized Interest charges.
15
10.03. FINANCING RATE.
The Financing Rate on the unpaid principal of the Loan amount specified in
Section 10.01 is 1.63 percent per annum. The Financing Rate equals the sum of the interest rate
and the Grant Allocation Assessment Rate. The interest rate is 0.815 percent per annum and the
Grant Allocation Assessment rate is 0.815 percent per annum. However, if this Agreement is not
executed by the Local Government and returned to the Department before July 1, 2014,the
Financing Rate may be adjusted. A new Financing Rate shall be established for any funds
provided by amendment to this Agreement.
10.04. LOAN TERM.
The Loan shall be repaid in 40 Semiannual Loan Payments.
10.05. REPAYMENT SCHEDULE.
The Semiannual Loan Payment shall be computed based upon the principal amount of the
Loan plus the estimated Loan Service Fee and the principle of level debt service. The
Department will deduct the Loan Service Fee and any associated interest from the first available
repayments following the final amendment. The Loan principal and Semiannual Loan Payment
amounts may be revised by amendment of the Agreement. After the final disbursement of Loan
proceeds,the Loan principal will be adjusted to reflect the actual dates and amounts of
disbursements. Accordingly, the Semiannual Loan Payment amount shall be adjusted, taking
into consideration any previous payments.
Until the principal amount of the Loan is amended, the Semiannual Loan Payment shall
be in the amount of$15,644. The interest and Grant Allocation Assessment portions of each
Semiannual Loan Payment shall be computed, using their respective rates, on the unpaid balance
of the principal amount of the Loan, which principal includes Capitalized Interest. Interest(at
the Financing Rate) shall also be computed on the unpaid balance of the estimated Loan Service
Fee. The interest and Grant Allocation Assessment on the unpaid balance shall be computed as
of the due date of each Semiannual Loan Payment.
Unless repayment is deferred by an amendment to this Agreement, Semiannual Loan
Payments shall be received by the Department beginning on January 15, 2017 and semiannually
thereafter on July 15 and January 15 of each year until all amounts due have been fully paid.
Funds transfer shall be made by electronic means.
The Semiannual Loan Payment amount is based on the total amount owed of$532,162,
which consists of the Loan principal plus the estimated Loan Service Fee.
10.06. PROJECT RELATED COSTS.
The Local Government and the Department acknowledge that actual Project costs and
Planning Activities costs have not been determined as of the effective date of this Agreement.
An adjustment to the Planning Activities cost may be made due to a reduction in the scope of
work proposed for construction or based on construction contract bid prices. Capitalized Interest
will be recalculated based on actual dates and amounts of Loan disbursements. The final
16
amount, and Project costs if financed by this Loan, shall be established in the final amendment.
Changes in the Planning Activities or Project costs may also occur as a result of the Local
Government's audit or the Department's audit.
The Local Government agrees to the following estimates of the Planning Activities and
related costs:
Planning (Disbursable Amount) $ 512,806
Capitalized Interest $ 9,100
TOTAL (Loan Principal Amount) $ 521,906
10.07. SCHEDULE.
All Planning Activities shall be completed no later than the completion of all Planning
Activities date set forth below. Planning activities shall be completed in time to enable the
Department to accept the planning documents as scheduled in Subsection(3) below.
(1) This Agreement shall be effective on October 9, 2013. Invoices submitted for work
on or after this date shall be eligible for reimbursement.
(2) Acceptance of the planning documents by the Department(Design Authorization)no
later than June 15, 2014.
(3) Completion of all Planning Activities for all Project facilities proposed for loan
funding no later than January 15, 2016.
(4) Unless deferred by amendment, establish the Loan Debt Service Account and begin
Monthly Loan Deposits no later than July 15, 2016.
(5) Unless deferred by amendment, provide certifications under Subsection 2.01(10)
beginning October 15, 2016, and annually thereafter no later than September 30 of each year
until the final Semiannual Loan Payment is made.
(6) Unless this Agreement is amended to provide construction financing,the first
Semiannual Loan Payment in the amount of$15,644 shall be due January 15, 2017.
10.08. SPECIAL CONDITIONS.
(1) Prior to any funds being released, the Local Government shall submit a certified
copy of the Resolution which authorizes the application, establishes the Pledged Revenues, and
designates and Authorized Representative for signing the application and executing the Loan
Agreement.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
17
ARTICLE XI-EXECUTION OF AGREEMENT
This Loan Agreement WW130300 shall be executed in three or more counterparts, any of
which shall be regarded as an original and all of which constitute but one and the same
instrument.
IN WITNESS WHEREOF, the Department has caused this Agreement to be executed on
its behalf by the Program Administrator and the Local Government has caused this Agreement to
be executed on its behalf by its Authorized Representative and by its affixed seal. The effective
date of this Agreement shall be as set forth below by the Program Administrator.
for
CITY OF OPA-LOCKA
Mayor
I attest to the opinion expressed in Section
Attest 2.02, entitled Legal Authorization.
City Clerk City Attorney
SEAL
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
Program Administrator Date
State Revolving Fund
18