10-2187 State Revolving Fund Program

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RESOLUTION 10-2187 "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, RELATING TO THE STATE REVOLVING FUND PROGRAM; AUTHORIZING THE APPLICATION; AUTHORIZING THE LOAN AGREEMENT; ESTABLISHING PLEDGED REVENUES; DESIGNATING AUTHORIZED REPRESENTATIVES; PROVIDING ASSURANCES; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE." WHEREAS, Florida Statutes provide for financial assistance to local government agencies to finance the construction of drinking water facilities; and WHEREAS, Florida Administrative Code rules require authorization to apply for financial assistance, to establish pledged revenues, to designate an authorized representative; to provide assurances of compliance with program requirements; and to enter into an agreement; and WHEREAS, the State Revolving Fund priority list designates DW Project No. 59031 for the City's water quality improvement projects as eligible for available funding; and WHEREAS, the City of Casselberry, Florida, intends to enter into an agreement with the Florida 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 City Commission of the City of Casselberry hereby approves the loan application with the Florida Department of Environmental Protection (attached as "Exhibit A") and authorizes the Mayor to execute said document on behalf of the City Commission. SECTION II. The revenues pledged for the repayment of the loan DW59031 ($1,076,923), which includes specialized interest, are water and sewer revenues and are/will be dedicated in the City's FY 2011, FY 2012, FY 2013, and FY 2014 Water and Sewer Water Line Renewal and Replacement Account. SECTION III. The Mayor is hereby designated as the authorized representative to provide the assurances and commitments required by the application. 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 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. SECTION IV. The legal authority for borrowing moneys to construct this Project is Chapter 166, Florida Statutes, the City Charter of the City of Casselberry, Florida, and other applicable revisions of law. SECTION V. Conflicts. All resolutions or part of Resolutions in conflict with any of the provisions of this Resolution are hereby repealed.