18-3037 Drinking Water State Revolving Fund Planning Loan Agreement

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RESOLUTION 18-3037 A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE EXECUTION OF THE DRINKING WATER STATE REVOLVING FUND PLANNING LOAN AGREEMENT FOR PROJECT NUMBER DW590330 FROM THE FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION; PROVIDING FOR CONFLICTS, SEVERABILITY AND EFFECTIVE DATE. WHEREAS, Florida Statutes provide for loans to local government agencies to finance the construction of wastewater treatment facilities; and WHEREAS, Florida Administrative Code rules require authorization to execute a loan agreement, to establish pledged revenues, to designate an authorized representative, to provide assurances of compliance with loan program requirements; and WHEREAS, the State Revolving Fund loan priority list designates Project No. DW590330 as approved for available funding; and WHEREAS, the City of Casselberry, Florida, entered 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 CASSELBERRY, FLORIDA, AS FOLLOWS: SECTION I. The foregoing findings are incorporated herein by reference and made a part hereof. SECTION II. The City of Casselberry, Florida, is authorized to execute the loan to finance the Project. SECTION III. The revenues pledged for repayment of the loan are from water and sewer system revenues after payment of debt services on the City's Water and Sewer System Revenue Bonds, Series 2011. SECTION IV. The Finance Director is hereby designated as the authorized representative to provide the assurances and commitments required by the loan application. SECTION V. The Mayor is hereby 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 Mayor is authorized to represent the City in carrying out the City's responsibilities under the loan agreement. The Mayor is authorized to delegate responsibility to appropriate City staff to carry out technical, financial and administrative activities associated with the loan agreement.