HomeMy WebLinkAboutR-2007-109 Loan App Dania Beach Blvd Force Main RESOLUTION NO. 2007-109
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, RELATING TO THE STATE REVOLVING FUND LOAN
PROGRAM; MAKING FINDINGS; AUTHORIZING THE LOAN
APPLICATION TO BE SUBMITTED TO THE FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION FOR $400,000.00 FOR CONSTRUCTION
ACTIVITIES ASSOCIATED WITH THE DANIA BEACH BLVD. FORCE
MAIN; AUTHORIZING THE CITY MANAGER TO EXECUTE THE LOAN
AGREEMENT; ESTABLISHING PLEDGED REVENUES; DESIGNATING
AUTHORIZED REPRESENTATIVES; PROVIDING ASSURANCES;
PROVIDING FOR CONFLICTS; FURTHER PROVIDING FOR 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.
WW791040 for financing of construction activities involved with the Dania Beach Blvd. Force
Main Project approved in the FY-07 Capital Improvement Plan which are eligible for available
funding; and
WHEREAS, the City of Dania Beach, Florida, intends to enter into a loan agreement
with the Department of Environmental Protection under the State Revolving Fund for project
financing;
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 apply for a loan to
finance DEP Project No. WW791040.
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 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.
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Section 8. That this Resolution shall become effective immediately upon its passage
and adoption.
PASSED AND ADOPTED on June 12, 2007,
13613 AN ON
MAYOR-COMMI SIONER
AT EST: . r
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LOUISE STILSON, CMC
CITY CLERK
APPROVED ASp\ FORM AND LEGALITY:
6
THOMAS AN 9R , kITY ATTORNEY
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