HomeMy WebLinkAboutR-2007-110 Loan Amend WM Looping - WTP-DTN RESOLUTION NO. 2007-110
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
AMENDMENT FOR $302,000 FOR CONSTRUCTION ACTIVITIES
ASSOCIATED WITH THE WATER MAIN LOOPING — WATER
TREATMENT PLANT TO DOWNTOWN PROJECT; AUTHORIZING THE
CITY MANAGER TO EXECUTE THE LOAN AMENDMENT;
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.
DW 0604030 for financing of construction activities involved with the Water Main Looping —
Water Treatment Plant to Downtown water main project approved in the FY-06 Capital
Improvement Plan which was previously approved for available funding; and
WHEREAS, the City of Dania Beach, Florida, entered into a loan agreement 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 costs;
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 0604030 in the amount of$302,000.
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.
Section 8. That this Resolution shall become effective immediately upon its passage
and adoption.
PASSED AND ADOPTED on June 12, 2007. `
BOBAT4TON
MAYOR-COMMISSIONER
AT EST: JCrk)
LOUISE STILSON
CITY CLERK
APPROVED AS TO FO d0 AND LEGALITY:
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THOMAS A SBR , CIT-&AT04NEY
2 RESOLUTION 92007-110