HomeMy WebLinkAboutR-2007-107 Loan Amend Tank n HSP RESOLUTION NO. 2007-107
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, RELATING TO THE STATE REVOLVING FUND LOAN
PROGRAM; MAKING FINDINGS; AUTHORIZING EXECUTION OF AN
AMENDMENT TO THE LOAN AGREEMENT EXISTING BETWEEN THE
CITY AND THE FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION FOR $247,000.00 FOR CONSTRUCTION ACTIVITIES
ASSOCIATED WITH THE WATER TANK AND HIGH SERVICE PUMPING
PROJECT; AUTHORIZING THE CITY MANAGER TO EXECUTE THE
LOAN AMENDMENT; ESTABLISHING PLEDGED REVENUES;
DESIGNATING AUTHORIZED REPRESENTATIVES; PROVIDING
ASSURANCES; PROVIDING FOR CONFLICTS, SEVERABILITY, AND AN
EFFECTIVE DATE.
WHEREAS, Florida Statutes provide for loans to local government agencies to finance
the construction of wastewater 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 requirements, and to enter into a loan agreement; and
WHEREAS, the State Revolving Fund loan priority list designates DEP Project No.
DW 0604010 for financing of construction activities involved with the Water Tank and High
Service Pumping project approved in the FY-05 Capital Improvement Plan which was
previously approved for available funding; and
WHEREAS, the City of Dania Beach, Florida, entered into a loan agreement and an
amendment with the Department of Environmental Protection under the State Revolving Fund
for project financing; and
WHEREAS, this amendment adds money to the original agreement for construction and
engineering;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF DANIA BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the foregoing findings are incorporated by reference and made a part
of this Resolution.
Section 2. That the City of Dania Beach, Florida is authorized to execute a loan
amendment for DEP Project No. DW 0604010 in the amount of$247,000.
Section 3. That the revenues pledged for the repayment of the loan are net water and
sewer system revenues after payment of debt service on the City's Series outstanding
obligations as noted in the original loan application.
Section 4. That the City Manager is designated as the authorized representative to
provide the assurances and commitments required by the loan application.
Section 5. That the City Manager is designated as the authorized representative to
execute the loan agreement which will become a binding obligation in accordance with its terms
when signed by both parties. The City Manager is authorized to delegate responsibility to
appropriate City staff to carry out technical, financial, and administrative activities associated
with the loan agreement.
Section 6. That the legal authority for borrowing monies to construct this Project is
the Florida Statutes.
Section 7. That all resolutions or parts of resolutions in conflict with any of the
provisions of this Resolution are repealed.
2 RESOLUTION#2007-107
Section 8. That this Resolution shall become effective immediately upon its passage
and adoption.
PASSED AND ADOPTED on June 12, 2007.
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OB NTO
MAYOR-COMMISSIONER
ATTEST:
L%1G'J�GGCA v�l��lJ
LOUISE STILSON, CMC
CITY CLERK
APPROVED AS 1 J ORM AND LEGALITY:
THOMA AN�&O,)CItkATTORNEY
3 RESOLUTION #2007-107