10-2126 State Revolving Fund Loan

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RESOLUTION 10-2126 "A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, RELATING TO THE STATE REVOLVING FUND LOAN PROGRAM; MAKING FINDINGS; AUTHORIZING THE LOAN APPLICATION; AUTHORIZING THE LOAN AGREEMENT; ESTABLISHING PLEDGED REVENUES; DESIGNATING AUTHORIZED REPRESENTATIVES; PROVIDING ASSURANCE AND AMENDING RESOLUTIONS 09-2076 AND 10-2110; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE." WHEREAS, Florida Statutes provide 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 requirements; and to enter into a loan agreement; and WHEREAS, the State Revolving Fund loan priority list designates DW Project No. 590300 as eligible for available funding; and WHEREAS, the City of Casselberry, Florida, entered into a loan agreement on September 28, 2009 with the Florida Department of Environmental Protection (FDEP) under the State Revolving Fund for project financing, via Resolution 09-2076; and WHEREAS, at its January 25, 2010 meeting, the Casselberry City Commission approved the first amendment to the State Revolving Fund loan agreement which provided for the inclusion of construction administration/inspection services (referred to as "technical services" by FDEP), via Resolution 10-2110; and WHEREAS, the aforesaid resolutions are hereby amended to include specific language necessary to satisfy the terms of the State Revolving Fund Loan agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: SECTION I. The foregoing finding are incorporated herein by reference and made a part hereof. SECTION II. The City of Casselberry, Florida is authorized to apply for a loan to finance the Project. SECTION III. The revenues pledged for the full repayment of loan DW590300 ($460,300), which includes capitalized interest, are water and sewer revenues and are dedicated in the City's FY 2010 and FY 2011 Water and Sewer Water Line Renewal and Replacement Account.