HomeMy WebLinkAbout428-Amendment 1 STATE REVOLVING FUND
ABENDBENT 1 TO LOAN AGRE~M~ITE FOR PROJECT CS120586170
CITY OF S~IFORD
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL
REGULATION (Department) and the CITY OF SANFORD, FLORIDA, existing as a local
government agency (Local Government) under the laws of the State of Florida.
WITNESSETH:
WHEREAS, the Department and the Local Government entered into a State Revolving
Fund Loan Agreement, Number CS120586170, in the amount Of $4,929,600, including
Capitalized Interest~ and
WHEREAS~ the interest rate on the original Loan amount is 4.23 percent and the
Local Government is entitled to an adjusted interest rate on that amount
pursuant to Chapter 17-503, Florida Administrative Code~ and
WHEREAS, the Local Government is entitled to an Additional completion Loan of
$955,000, excluding capitalized Interest, pursuant to Chapter 17~503, Florida
Administrative Codes and
WHEREAS, a separate interest rate is to be established for the Additional
Completion Loan amount awarded in this amendment pursuant to chapter 17-503~
Florida Administrative Code~ and
WHEREAS, a Loan Service Fee shall be paid by the Local Government for the
Additional completion Loan and may be included as part of the Loan amount
pursuant to Chapter 17-503, Florida Administrative Codes and
WHEREAS, the Annual Loan Payment amount, the disbursement schedule, and the Loan
budget need revision to reflect the adjustments in the interest rate and the
Loan amount~ and
WHEREAS, the Project schedule and Project description need revision to reflect
a delay in cleaning the stormwater/reject holding ponds~ and
WHEREAS, the Loan Agreement needs revision to reflect Section 216.349, Florida
Statutes, and to incorporate the auditing and reporting requirements of Chapter
17-503, Florida Administrative Code.
NOW, THEREEFORE, the parties hereto agree as follows:
1. The interest rate on the original Loan amount is hereby revised to 3.73
percent per annum~ there shall be no further revision of this rate.
2. An Additional Completion Loan in the amount of $955,000, excluding
capitalized Interest, is hereby awarded to the Local Government.
3. An interest rate of 2.89 percent per annum is established for the
Additional completion Loan amount awarded in this amendment; however, if this
amendment is not executed by the Local Government and the Department before
July 1, 1993, this interest rate shall be adjusted pursuant to Chapter 17-503,
Florida Administrative Code.
4. A Loan Service Fee of $32,29S is hereby assessed and included in the
principal amount of the Loan. It shall be disbursed directly to the
Department's Operating Trust Fund in the increments and at the times set forth
in Chapter 17-S03, Florida Administrative code.
5. The principal amount of the Loan is hereby revised to Five Million
Seven Hundred Ninety Thousand Two Hundred Fifty Five and Seventy One-hundredths
Dollars ($~,790,255.70), including Forty Four Thousand Two Hundred Fifty Five
and Seventy One-hundredths Dollars ($44,255.70) Of Capitalized Interest, and
consists of the following:
(a) Four Million Eight Hundred Thirty Five Thousand Two Hundred Fifty Five
and Seventy One-hundredths Dollars ($4,835,255.70), including Forty Four
Thousand Two Hundred Fifty Five and Seventy One-hundredths Dollars ($44,255.70)
of capitalized Interest, the interest rate on such amount being 3.73 percent per
annum~ and
{b) Nine Hundred Fifty Five Thousand Dollars ($955,000.00), the interest
rate on such amount being 2.89 percent per annum.
6. The Annual Loan Payment amount, is hereby revised and shall be in the
amount of Four Hundred Ten Thousand Eight Hundred Sixty TwO and Forty Six
One-hundredths Dollars ($410,862.46) until this Agreement is further amended.
Such payment shall be received on or before December 31, 1993 and for each year
thereafter until the entire amount due hereunder has been paid. The Annual Loan
Payment will be propertionally applied toward repayment of the amounts owed
(based On disbursements, Capitalized Interest and accrued interest) on each
incremental Loan amount on December 31, 1993.
7. Pursuant to Section 216.349, Florida Statutes, the Local Government
covenants that Loan proceeds will not be used for the purpose of lobbying the
Florida legislature, the Judicial Branch, or a State agency.
8. Attachment B, Project Description, is hereby deleted in its entirety
and replaced with Attachment B, Revised, attached hereto and made a part hereof.
9. Attachment C, Estimated Loan Disbursement Schedule, is hereby deleted
in its entirety and replaced with Attachment C, Revised, attached hereto and
made a part hereof.
10. Subsection 2.01(11) is hereby deleted in its entirety and replaced
with Attachment D, Auditing and Reporting attached hereto and made a part
hereof.
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11. Section 11.02, Exact Figures, is hereby deleted in its entirety and
replaced with Attachment E, attached hereto and made a part hereof.
12. Section 11.03, Project Schedule, is hereby deleted in its entirety and
replaced with Attachment F, attached hereto and made a part hereof.
All other terms and provisions of the Lean Agreement shall remain in effect.
This Agreement shall be executed in three or more counterparts, any of which
shall be regarded as an original and all of which constitute but one and the
same instrument. The Agreement becomes effective upon execution.
IN WITNESS WHEREOF, the Department has caused this Agreement to be executed
on its behalf by the Secretary of the Department and the Local Government has
caused this Agreement to be executed on its behalf by its Authorized
Representative and by its affixed seal. The effective date of this Agreement is
the W day of , l, This Agreement incor rates
Attachments B, C, D, E hereto.
Secretary M r
STATE OF FLORIDA ~~
DEPARTMENT OF ENVIRONMENTAL REGULATION
City Manager
CITY OF SANFORD
Attest:
city Clerk
SEAL
APPROVED AS TO FORM:
City Attorney
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ATTACHMENT B~ REVISED~ PRO,,T~CT DESCRIPTION
The Project financedby this Loan, denoted by the Department's identifying
Number CS120586170, is for the expansion of the Sanford Wastewater Reclamation
Facility, the extension of the Local Government's reclaimed water reuse system,
and the construction of a discharge transmission main. The Project consists
specifically of the components detailed below.
1. The contract entitled "seasonal Discharge Transmission Main" includes
construction of approximately 15,870 linear feet of 20-inch-diameter
and approximately 270 linear feet of 18-inch-diameter effluent force
main from the Sanford wastewater treatment plant to a new
post-aeration structure at the St. Johns River~ construction of
approximately 940 linear feet of 30-inch-diameter effluent gravity
line from the new post-aeration structure into the St. Johns River~
and modification of the existing dechlorination facilities.
2. The contract entitled "Water Reclamation Facility Expansion"
includes the construction of new aeration tanks$ a new sludge
thickening/laboratory building (including a new 1.5 meter gravity
belt sludge thickener)~ a new maintenance building~ chlorination
system improvements~ rehabilitation of the existing aeration tanks~
demolition of the existing primary tanks and Special Structure No. 1~
construction of new bridges at existing Final Clarifier II and at the
existing digester building~ replacement of three existing blowers
with four new blowers; renovation of the existing laboratory and
office buildings and cleaning of the existing stormwater/reject water
holding ponds.
Notes The stormwater/reject pond cleaning may be bid separately.
3. The contract entitled "Westerly Reclaimed Water Transmission System,
Contract II" includes construction of approximately 8,080 linear feet
of 16-inch-diameter reclaimed water transmission main~ approximately
5,470 linear feet of 14-inch-diameter reclaimed water transmission
main~ and approximately 140 linear feet of 12-inch-diemeter reclaimed
water transmission main.
4. Those portions of the contract entitled "Westerly Interceptor and
Reclaimed Water Transmission Mains, contract I" involving the
construction of approximately 5,490 linear feet of 16-inch-diameter
reclaimed water transmission main in State Road 46 from Mangoustine
Avenue to Airport Road~ the construction of approximately 170 linear
feet of 12-inch-diameter and 720 linear feet of 6-inch-diameter
reclaimed water transmission main in State Road 46 from Airport Road
to Bevier Road~ and appurtenant work. The Westerly Interceptor portion
of the contract is not included~ that work may be funded with another
State Revolving Fund Loan (Number CS120586210).
The project is in agreement with the Sanford 201 Facilities Plan Amendment
Number 2 dated February 1988 and the Westerly Interceptor Addendum dated May
1989. Approval of the project is provided by the Florida Finding of No
Significant Impact-Amendment dated April 12, 1991.
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A~ACHMEN~ C, KEVXSEDz ESTIMA~DLOANDISBURSF, MEN~ SCHEDULE
The estimated schedule for disbursement of the Loan, including the Coot of
Construction, is as follows:
~te Amount
June ~, 1992 $1,387,813
July 27, 1992 437 052
September 2, 1992 226 290
October 1, 1992 44~ 670
December 9, 1992 303 831
March 30, 1993 788 480
May 1993 142 000
June 1993 142 000
July 1993 142 000
August 1993 1~5 000
September 1993 4B0 000
October 1993 164000
November 1993 164000
December 1993 183000
January 1994 67,000
March 1994 66,000
June 1994 66,000
July 1994 70,000
september 1994 3~,000
October 1994 220,000
December 1994 90,864
The total amount to be disbursed is $5,746,000 This amount is equal to the
Loan amount less capitalized Interest.
AT',EACI~4ENT D~ AUDITING AND REPORTING
In the event the anticipated Pledged Revenues are shown by the Local
Government's annual budget to be insufficient to make the Annual Loan Payment
for such Fiscal Year when due, the Local Government shall include in such
budget ether legally available funds which will be sufficient, together with
the Pledged Revenues, to make the Annual Loan Payment. Such other legally
available funds shall be budgeted in the regular annual governmental budget
and designated for the purpose provided by this Subsection, and the Local
Government shall collect such funds for application as provided herein.
Nothing in this covenant shall be construed as (a) creating a pledge, lien, or
charge upon any such other legally available funds~ or (b) requiring the Local
Government to lev~ or appropriate ad valorem tax revenues~ or (c) preventing
the Local Government from pledging to the payment of any bonds or other
obligations all or any part of such other legally available funds~ or (d)
expending such funds for other governmental purposes, prior to such
application.
For each year until the Loan is retired, the Local Government shall
submit annual audit reports to the Department. Reports shall be submitted
within one year after the end of each audited fiscal year. Audits shall be
conducted in accordance with "Government Auditing Standards" (1988) issued by
the comptroller General of the United States.
Through the fiscal year during which the final Loan disbursemant to the
Local Government is received, audits shall be conducted under the office of
Management and Budget circular A-128, "Audits of State and Local Governments"
(1985), which provides policies, procedures, and guidelines for the single
Audit Act of 1984. The Loan shall be treated as a major Federal assistance
program regardless of the disbursed amount received during the fiscal year
being audited.
Financial audits shall be conducted as required under Section 11.45 of
the Florida Statutes for the period beginning with the first fiscal year after
the final loan disbursement to the Local Government is received and ending
with the fiscal year during which the Loan is retired.
Through the fiscal year during which the Loan is retired, the Local
Government shall cause its auditor to comment on its compliance with the Loan
Agreement covenants and on its ability to repay the Loan. The Department
shall be notified immediately if anything comes to the auditor's attention
during the annual examination of the Local Government's records that would
constitute a default under the Loan Agreement or adversely affect the Local
Government's ability to repay the Loan~ or the audit report shall include a
statement to the effect that nothing came to the auditor's attention that
would constitute a default under the Loan Agreement or adversely affect the
Local Government's ability to repay the Loan.
Within 12 months of Project close-out, the Local Government shall submit
to the Department a separate audit, by an independent certified public
accountant, of the Loan revenues and expenditures. The audit shall be
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conducted in accordance with "Government Auditing Standards" (1988) issued by
the Comptroller General of the United States. The audit shall address whether
the Local Government complied with requirements set forth in the Loan
Agreement. The audit findings shall set aside or ~uestion any costs that are
unallowable under Rule 17-503, Florida Administrative Code. A final
determination of the allowability of such costs shall be made by the
Department.
The Local Goverrment's Authorized Representative or its chief financial
officer shall submit a certification no later than September 30 of each year,
beginning in 1993 and continuing until the Loan is retired, that= (a) Pledged
Revenue collections satisfy, on a pro rata basis, the rate coverage
requirement~ (b) the Monthly Escrow Account contains the funds required~ (c)
the Loan Repayment Reserve Account contains the funds required; and (d)
insurance, including that issued through the National Flood Insurance Program
authorized under 42 U.S.C. secs. 4001-4128 when applicable, in effect for the
facilities generating the Pledged Revenues, adequately covers the customary
risks to the extent that such insurance is available.
ATIACHMENT E= EXACT FIG~RES
The Local Government and the Department acknowledge that the actual cost of
the Project has not been determined as of the effective date of this
Agreement. Project cost adjustments may be made as a result of construction
bidding or mutually agreed upon Project changes. The final cost shall be
established after all Project costs are reviewed subsequent to Project
performance certification. Changes in Project costs may also occur as a
result of the Local Government's Project audit or a Department audit pursuant
to chapter 17-503 of the Florida Administrative Code.
Funds disbursed in accordance with Section 4.08 of this Agreement Shall be
disbursed in the order in which they have been obligated without respect to
budgetary line item estimates. All disbursements shall be made from the
original Loan amount until that amount has been disbursed~ the final interest
rate established for the original Loan amount shall apply to such
disbursements for the purpose of determining the associated capitalized
interest and repayment amounts. The final interest rate established for any
additional increment of Loan funds obligated shall be used to determine the
capitalized interest and repayment amounts associated with the funds disbursed
from that increment. The Local Government agrees to the following estimates
for the Project cost:
(1) Administrative Allowance $ 28,500.00
(2) Design Allowance $ 303,700.00
(3) Construction and Demolition $ 4,952,000.00
(4) Equipment and Materials $ -0-
(5) Contingencies $ 27,875.00
(6) Land $ -0-
(7) Technical Services During Construction $ 278,000.00
(8) Loan Repayment Reserve $ 61,630.00
(9) Financing (capitalized interest) $ 44,255.70
(10) Project Performance certification $ 62,000.00
(11) Final Project Audit $ -0-
(12) Loan Service Fee (this amendment) $ 32,295.00'
TOTAL COST $ 5,790,255.70
*The Loan Service Fee shall be disbursed directly to the Department's
Operating Trust Fund in the increments and at the times set forth in
Rule 17-503.400.
The Local Government agrees by execution hereof=
(1) The disbursement of design and administrative allowances and the
incremental Loan Repayment Reserve amount will be made upon request of the
Local Government.
(2) Additional funds in the amount of $6,107 will be deposited in the Loan
Repayment Reserve Account within sixty days after the effective date of
this amendment to the Loan Agreement.
(3) The date by which construction of the Project is scheduled for completion
is September 30, 1993.
(4) The date by which the First Annual Loan Payment becomes due is
December 31, 1993.
(5) The Department shall conduct an inspection of the Project after
construction completion at which time certain deadlines limiting Project
cost eligibility shall be established. A deadline for certification Of
the operational performance of the Project shall also be established.
These deadlines shall be incorporated into the Loan Agreement by
amendment.