18-3022 Project Financing under SRF for Planning of Smart Meter Conversion Project

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If "No", please explain (Attachment # ) (2) SCHEDULE. (a) Anticipated notice to proceed for first construction contract. (b) Anticipated completion of all construction contracts. (3) COST. Is the cost information submitted for the priority list current? (month and year) ❑ Yes ❑ No If "No", please explain and submit revised cost information using the appropriate page of the Request for Inclusion Form. (Attachment # ) Note that the disbursable amount will be limited to the priority list amount. PART III - FINANCIAL INFORMATION Estimates of the capitalized interest, interest rate, pledged revenue coverage, limitations on annual loan amounts for large projects, applicability and amount of repayment reserves, amount of the loan service fee and any other information may be obtained by contacting staff in the State Revolving Fund Management Section. (1) PRINCIPAL. The requested amount of the loan which does not include capitalized interest is $ 250,000.00 Note that the disbursable amount will be limited to the priority list amount and must be consistent with the project information provided under PART II of this application. Also note that the capitalized interest is an inexact estimate, and it is subject to adjustment by the Department to reflect actual disbursement timing. The principal amount of the loan does not include the loan service fee. (2) TERMS AND REPAYMENT. (a) Loans for planning and design shall be amortized over 10 years. Construction loans to local government project sponsors are amortized over the lesser of useful life of the project or 20 years unless the project is to serve a small community qualifying as financially disadvantaged. Construction loans to financially disadvantaged small communities may be amortized over the lesser of useful life of the project or 30 years. Construction loans to non-governmental project sponsors are amortized over the lesser of the useful life of the project or 20 years. Interest charges and principal are paid semiannually. What is the useful life of the project? 20 (years) Over how many years would you like to amortize the loan? 10 (years) (b) List all revenues that are to be pledged for repayment of this loan. Utility System Revenues (c) Pledged revenue receipts or collections by the project sponsor must exceed the amount of the repayments due to the Department unless there are other collateral provisions. The excess revenue, or coverage, generally is 15% of each repayment. What coverage is proposed for the loan? 15 % (coverage percentage) (d) Is any other financial assistance being applied to this project? ❑ Yes ® No If "Yes", please list. (Attachment # ) (3) ANNUAL FUNDING LIMIT. Large project funding (generally, loans in excess of $10 million) may be provided in increments pursuant to the initial loan agreement and subsequent amendments. (4) INFORMATION ON LIENS. (a) Describe, if applicable, all debt obligations having a prior or parity lien on the revenues pledged to repay this loan. (Attachment k3 ) For example: City Name, Florida, Water and Sewer System Revenue Bonds, Series 1996, issued in the amount of $10,000,000, pursuant to Ordinance No. 93-104, as amended and supplemented by Ordinance No. 96- 156. (b) Using the Part V, Schedule of Prior and Parity Liens, provide debt service information, if applicable, on each prior and parity obligation. Form Application DW -1 Incorporated in 62-552.430(1)(a), F.A.C. Page 3 of 9 Effective Date July 2017