19-3111 Amendment No. 2 to State Revolving Fund Loan Agreement (DW690330) with FDEP_20191003152417

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RESOLUTION 19-3111 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, APPROVING AND AUTHORIZING THE EXECUTION OF AMENDMENT NO. 2 TO THE STATE REVOLVING FUND LOAN AGREEMENT (DW590330) WITH THE FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE. WHEREAS, in June 2018, the Florida Department of Environmental Protection (FDEP) awarded the City loans to finance the planning phase for smart meter technology conversion. WHEREAS, the City continues to budget the repayment of the loans in accordance with the agreed upon terms; and WHEREAS, Amendment 1 provided for an extension of time for completion of the planning activities; and WHEREAS, FDEP submitted Amendment No. 2 to the State Revolving Fund Loan Agreement (DW590330) to readjust the semi-annual loan repayment to reflect actual costs; and WHEREAS, the adjusted loan balance is amended from $252,300.00 to $40,018.92; and WHEREAS, Amendment No. 2 provides for the repayment of $2,214.31 beginning July 15, 2020 and semi-annually thereafter every January 15 and July 15 until the loan has been fully repaid; and WHEREAS, City staff has reviewed Amendment No. 2 to the State Revolving Fund Construction Loan Agreement (DW590330) submitted by FDEP and finds it favorable to meet the needs of the City. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: SECTION I. The City Commission of the City of Casselberry hereby approves Amendment No. 2 to the State Revolving Fund Construction Loan Agreement (DW590330) between the City of Casselberry and the Florida Department of Environmental Protection and authorizes the Mayor to execute said document(s) on behalf of the City. SECTION II. Conflicts. All Resolutions or parts of Resolutions in conflict with any of the provisions of this Resolution are hereby repealed.