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TRANSMITTAL MEMORANDUM wW '
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To: City Clerk
RE: Request for Services
The item(s) noted below is /are attached and forwarded to your office for the following action(s):
Development Order
Final Plat (original mylars)
Letter of Credit
Maintenance Bond
Ordinance
Performance Bond
Resolution
Once completed, please:
❑ Return original
❑ Return copy
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Special Instructions:
❑
Mayor's signature
❑
Recording
❑
Rendering
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Safe keeping (Vault)
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Please advise if you have any questions regarding the above.
Thank you!
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T:\Dept_forms \City Clerk Transmittal Memo - 2009.doc
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STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
AND
CITY OF SANFORD, FLORIDA
CLEAN WATER STATE REVOLVING FUND
LOAN AGREEMENT
WW590130
Florida Department of Environmental Protection
Bureau of Water Facilities Funding
Bob Martinez Center
2600 Blair Stone Road, MS 3505
Tallahassee, Florida 32399 -2400
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CLEAN WATER STATE REVOLVING FUND LOAN AGREEMENT
CONTENTS PAGE
ARTICLE I - DEFINITIONS 1
1.01. WORDS AND TERMS. 1
1.02. CORRELATIVE WORDS. 3
ARTICLE II - WARRANTIES, REPRESENTATIONS AND COVENANTS 3
2.01. WARRANTIES, REPRESENTATIONS AND COVENANTS. 3
2.02. LEGAL AUTHORIZATION. 5
2.03. AUDIT AND MONITORING REQUIREMENTS. 5
ARTICLE III - LOAN REPAYMENT ACCOUNT 8
3.01. LOAN DEBT SERVICE ACCOUNT. 8
3.02. INVESTMENT OF LOAN DEBT SERVICE ACCOUNT MONEYS. 9
3.03. LOAN DEBT SERVICE ACCOUNT WITHDRAWALS. 9
3.04. ASSETS HELD IN TRUST. 9
ARTICLE IV - PROGRAM INFORMATION
9
4.01. PROJECT CHANGES.
9
4.02. TITLE TO PROJECT SITE.
10
4.03. RESERVED.
10
4.04. RESERVED.
10
4.05. PROHIBITION AGAINST ENCUMBRANCES.
10
4.06. COMPLETION MONEYS.
10
4.07. CLOSE -OUT.
10
4.08. LOAN DISBURSEMENTS.
10
ARTICLE V - RATES AND USE OF THE WATER AND SEWER SYSTEMS 11
5.01. RATE COVERAGE. 11
5.02. NO FREE SERVICE. 11
5.03. MANDATORY CONNECTIONS. 11
5.04. NO COMPETING SERVICE. 12
5.05. MAINTENANCE OF THE WATER AND SEWER SYSTEMS. 12
5.06. ADDITIONS AND MODIFICATIONS. 12
5.07. COLLECTION OF REVENUES. 12
ARTICLE VI - DEFAULTS AND REMEDIES
12
6.01. EVENTS OF DEFAULT.
12
6.02. REMEDIES.
13
6.03. DELAY AND WAIVER.
14
ARTICLE VII - THE PLEDGED REVENUES 14
7.01. SUPERIORITY OF THE PLEDGE TO THE DEPARTMENT. 14
7.02. ADDITIONAL DEBT OBLIGATIONS. 14
ARTICLE VIII - GENERAL PROVISIONS 15
8.01. DISCHARGE OF OBLIGATIONS. 15
0
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CLEAN WATER STATE REVOLVING FUND LOAN AGREEMENT
CONTENTS PAGE
8.02. RECORDS AND STATEMENTS.
15
8.03. ACCESS TO WORK SITE.
15
8.04. ASSIGNMENT OF RIGHTS UNDER AGREEMENT.
15
8.05. AMENDMENT OF AGREEMENT.
15
8.06. ANNULMENT OF AGREEMENT.
16
8.07. SEVERABILITY CLAUSE.
16
8.08. USE AS MATCHING FUNDS.
16
8.09. COMPLIANCE VERIFICATION.
16
8.10. EMPLOYMENT ELIGIBILITY VERIFICATION.
17
ARTICLE IX - RESERVED 18
ARTICLE X - DETAILS OF FINANCING 18
10.01. PRINCIPAL AMOUNT OF LOAN. 18
10.02. LOAN SERVICE FEE. 18
10.03. FINANCING RATE. 18
10.04. LOAN TERM. 18
10.05. REPAYMENT SCHEDULE. 19
10.06. PROJECT RELATED COSTS. 19
10.07. SCHEDULE. 20
ARTICLE XI - EXECUTION OF AGREEMENT 21
L
CLEAN WATER STATE REVOLVING FUND LOAN AGREEMENT
WW590130
THIS AGREEMENT is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and the CITY OF SANFORD, FLORIDA, yr
(Local Government) existing as a local governmental agency under the laws of the State of
Florida.
WITNESSETH: r
WHEREAS, pursuant to Section 403.1835, Florida Statutes, the Department is authorized to
make loans to local governmental agencies to finance the planning, design, and construction of
wastewater pollution control facilities; and
WHEREAS, funding is provided from the State Revolving Fund program repayments and
interest, which are Federally protected but which are subject to state audit requirements; and
WHEREAS, the Local Government has made application for the financing of Preconstruction
Activities, and the Department has determined that all requirements for a loan have been met.
NOW, THEREFORE, in consideration of the Department loaning money to the Local
Government, in the principal amount and pursuant to the covenants hereinafter set forth, it is
agreed as follows:
ARTICLE I - DEFINITIONS
1.01. WORDS AND TERMS.
Words and terms used herein shall have the meanings set forth below:
(1) "Agreement" or "Loan Agreement" shall mean this agreement.
(2) "Authorized Representative" shall mean the official of the Local Government
authorized by ordinance or resolution to sign documents associated with the Loan.
(3) "Capitalized Interest" shall mean a finance charge that accrues at the Financing
Rate on Loan proceeds from the time of disbursement until six months before the first
Semiannual Loan Payment is due. Capitalized Interest is financed as part of the Loan principal.
(4) "Construction Related Costs" shall mean costs for Project construction, equipment,
materials, demolition, contingency, legal and technical services incurred after construction bid
opening, and Capitalized Interest associated with the foregoing costs.
(5) "Depository" shall mean a bank or trust company, having a combined capital and
unimpaired surplus of not less than $50 million, authorized to transact commercial banking or
savings and loan business in the State of Florida and insured by the Federal Deposit Insurance
Corporation.
(6) "Financing Rate' shall mean the charges, expressed as a percent per annum,
imposed on the unpaid principal of the Loan. The Financing Rate shall consist of an interest
rate component and a Grant Allocation Assessment rate component.
(7) "Grant Allocation Assessment" shall mean an assessment, expressed as a percent
per annum, accruing on the unpaid balance of the Loan. It is computed similarly to the way
interest charged on the Loan is computed and is included in the Semiannual Loan Payment.
The Department will use Grant Allocation Assessment moneys for making grants to financially
disadvantaged small communities pursuant to Section 403.1835 of the Florida Statutes.
(8) "Gross Revenues" shall mean all income or earnings received by the Local
Government from the ownership or operation of its Water and Sewer Systems, including
investment income, all as calculated in accordance with generally accepted accounting
principles. Gross Revenues shall not include proceeds from the sale or other disposition of any
part of the Water or Sewer System, condemnation awards or proceeds of insurance, except use
and occupancy or business interruption insurance, received with respect to the Water or Sewer
System.
(9) "Loan" shall mean the amount of money to be loaned pursuant to this Agreement
and subsequent amendments.
(10) "Loan Application" shall mean the completed form which provides all information
required to support obtaining loan financial assistance from the Department.
(11) "Loan Debt Service Account" shall mean an account, or a separately identified
component of a pooled cash or liquid account, with a Depository established by the Local
Government for the purpose of accumulating Monthly Loan Deposits and making Semiannual
Loan Payments.
(12) "Loan Service Fee" shall mean an origination fee which shall be paid to the
Department by the Local Government.
(13) "Monthly Loan Deposit" shall mean the monthly deposit to be made by the Local
Government to the Loan Debt Service Account.
(14) "Operation and Maintenance Expense" shall mean the costs of operating and
maintaining the Water and Sewer Systems determined pursuant to generally accepted
accounting principles, exclusive of interest on any debt payable from Gross Revenues,
depreciation, and any other items not requiring the expenditure of cash.
(15) "Pledged Revenues" shall mean the specific revenues pledged as security for
repayment of the Loan and shall be the Gross Revenues derived yearly from the operation of
the Water and Sewer Systems after payment of the Operation and Maintenance Expense and
the satisfaction of all yearly payment obligations on account of any senior obligations issued
pursuant to Section 7.02 of this Agreement.
(16) "Preconstruction Activities" shall mean the planning, administrative, and
engineering work necessary for the Local Government to qualify for Clean Water State
2
Revolving Fund financing for construction of wastewater transmission, collection, reuse, and
treatment facilities.
(17) "Project" shall mean the construction of facilities planned and designed through the
Preconstruction Activities.
(18) "Semiannual Loan Payment" shall mean the payment due from the Local
Government to the Department at six -month intervals.
(19) "Sewer System" shall mean all facilities owned by the Local Government for
collection, transmission, treatment and reuse of wastewater and its residuals.
(20) "Water System" shall mean all facilities owned by the Local Government for
supplying and distributing water for residential, commercial, industrial, and governmental use.
1.02. CORRELATIVE WORDS.
Words of the masculine gender shall be understood to include correlative words of the
feminine and neuter genders. Unless the context shall otherwise indicate, the singular shall
include the plural and the word "person' shall include corporations and associations, including
public bodies, as well as natural persons.
ARTICLE II - WARRANTIES, REPRESENTATIONS AND COVENANTS
2.01. WARRANTIES, REPRESENTATIONS AND COVENANTS.
The Local Government warrants, represents and covenants that:
(1) The Local Government has full power and authority to enter into this Agreement
and to comply with the provisions hereof.
(2) The Local Government currently is not the subject of bankruptcy, insolvency, or
reorganization proceedings and is not in default of, or otherwise subject to, any agreement or
any law, administrative regulation, judgment, decree, note, resolution, charter or ordinance
which would currently restrain or enjoin it from entering into, or complying with, this
Agreement.
(3) There is no material action, suit, proceeding, inquiry or investigation, at law or in
equity, before any court or public body, pending or, to the best of the Local Government's
knowledge, threatened, which seeks to restrain or enjoin the Local Government from entering
into or complying with this Agreement.
(4) The Local Government knows of no reason why any future required permits or
approvals associated with the Project are not obtainable.
(5) The Local Government shall undertake Preconstruction Activities and the Project
on its own responsibility, to the extent permitted by law.
3
(6) To the extent permitted by law, the Local Government shall release and hold
harmless the State, its officers, members, and employees from any claim arising in connection
with the Local Government's actions or omissions in its planning, engineering, administrative,
and construction activities financed by this Loan or in its operation of Project facilities.
(7) All Local Government representations to the Department, pursuant to the Loan
Application and Agreement, were true and accurate as of the date such representations were
made. The financial information delivered by the Local Government to the Department was
current and correct as of the date such information was delivered. The Local Government shall
comply with Chapter 62 -503, Florida Administrative Code, and all applicable State and Federal
laws, rules, and regulations which are identified in the Loan Application or Agreement. To the
extent that any assurance, representation, or covenant requires a future action, the Local
Government shall take such action as is necessary for compliance.
(8) The Local Government shall maintain records using generally accepted accounting
principles established by the Governmental Accounting Standards Board. As part of its
bookkeeping system, the Local Government shall keep accounts of the Water and Sewer
Systems separate from all other accounts and it shall keep accurate records of all revenues,
expenses, and expenditures relating to the Water and Sewer Systems, and of the Pledged
Revenues, Loan disbursement receipts, and Loan Debt Service Account.
(9) In the event the anticipated Pledged Revenues are shown by the Local
Government's annual budget to be insufficient to make the Semiannual Loan Payments for
such Fiscal Year when due, the Local Government shall include in such budget other legally
available non -ad valorem funds which will be sufficient, together with the Pledged Revenues,
to make the Semiannual Loan Payments. Such other legally available non -ad valorem 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. The Local Government shall notify the Department immediately in writing
of any such budgeting of other legally available non -ad valorem funds. Nothing in this
covenant shall be construed as creating a pledge, lien, or charge upon any such other legally
available non -ad valorem funds; requiring the Local Government to levy or appropriate ad
valorem tax revenues; or preventing the Local Government from pledging to the payment of
any bonds or other obligations all or any part of such other legally available non -ad valorem
funds.
(10) Each year, beginning three months before the first Semiannual Loan Payment and
ending with the year during which the final Loan repayment is made, the Local Government's
Authorized Representative or its chief financial officer shall submit, no later than the date
established in Section 10.07, a certification that: (a) Pledged Revenue collections satisfy, on a pro
rata basis, the rate coverage requirement; (b) the Loan Debt Service Account contains the funds
required; and (c) 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
rd
(11) Pursuant to Section 216.347 of the Florida Statutes, the Local Government shall not
use the Loan proceeds for the purpose of lobbying the Florida Legislature, the Judicial Branch,
or a State agency.
(12) The Local Government agrees to complete the Preconstruction Activities and, if
included by an amendment to this Agreement, the Project, in accordance with the
Preconstruction Activities schedule set forth in Section 10.07 and a Project schedule added by
amendment to this Agreement. Delays incident to strikes, riots, acts of God, and other events
beyond the reasonable control of the Local Government are excepted. However, there shall be
no resulting diminution or delay in the Semiannual Loan Payment or the Monthly Loan
Deposit.
(13) The Local Government covenants that this Agreement is entered into for the
purpose of completing planning, engineering, and administrative activities in order to
construct facilities which will, in all events, serve a public purpose.
2.02. LEGAL AUTHORIZATION.
Upon signing this Agreement, the Local Government's legal counsel hereby expresses
the opinion, subject to laws affecting the rights of creditors generally, that:
(1) This Agreement has been duly authorized by the Local Government and shall
constitute a valid and legal obligation of the Local Government enforceable in accordance with
its terms upon execution by both parties; and
(2) This Agreement specifies the revenues pledged for repayment of the Loan, and the
pledge is valid and enforceable.
2.03. AUDIT AND MONITORING REQUIREMENTS.
The Local Government agrees to the following audit and monitoring requirements.
Funds provided under this Agreement have been identified as second -tier monies under
the Federal Clean Water Act which are identified as state funds whose use is federally
protected.
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State Resources Awarded to the Local Government Pursuant to this Agreement Consist of the Following
Resources Subject to Section 215.97, F.S.:
State
State
Program
CSFA
CSFA Title or Fund
Funding
Appropriation
Number
Funding Source
Number
Source Description
Amount
Categor
Wastewater
Treatment and
Statewide Surface
Original
Stormwater
37.077
Water Restoration and
$808,854
140131
Agreement
Management TF
Wastewater Projects
(2) Audits.
(a) In the event that the Local Government expends a total amount of state financial
assistance equal to or in excess of $500,000 in any fiscal year of such Local Government, the
Local Government must have a State single or project - specific audit for such fiscal year in
accordance with Section 215.97, Florida Statutes; applicable rules of the Department of
Financial Services; and Chapters 10.550 (local governmental entities) or 10.650 (nonprofit and
for - profit organizations), Rules of the Auditor General. In determining the state financial
assistance expended in its fiscal year, the Local Government shall consider all sources of state
financial assistance, including state financial assistance received from the Department of
Environmental Protection, other state agencies, and other nonstate entities. State financial
assistance does not include Federal direct or pass- through awards and resources received by a
nonstate entity for Federal program matching requirements.
(b) In connection with the audit requirements addressed in the preceding paragraph (a);
the Local Government shall ensure that the audit complies with the requirements of Section
215.97(7), Florida Statutes. This includes submission of a financial reporting package as defined
by Section 215.97(2), Florida Statutes, and Chapters 10.550 (local governmental entities) or
10.650 (nonprofit and for - profit organizations), Rules of the Auditor General.
(c) If the Local Government expends less than $500,000 in state financial assistance in its
fiscal year, an audit conducted in accordance with the provisions of Section 215.97, Florida
Statutes, is not required. The Local Government shall inform the Department of findings and
recommendations pertaining to the State Revolving Fund in audits conducted by the Local
Government in which the $500,000 threshold has not been met. In the event that the Local
Government expends less than $500,000 in state financial assistance in its fiscal year, and elects
to have an audit conducted in accordance with the provisions of Section 215.97, Florida
Statutes, the cost of the audit must be paid from the non -state entity's resources (i.e., the cost of
such an audit must be paid from the Local Government's resources obtained from other than
State entities).
(d) For information regarding the Florida Catalog of State Financial Assistance (CSFA),
a Local Government should access the Florida Single Audit Act website located at
hops: / /apps.fldfs.com /fsaa for assistance. In addition to the above websites, the following
websites may be accessed for information: Legislature's Website at
hqp: / /www.leg.state.fl.us /Welcome /index.cfm State of Florida's website at
http: / /www.inyflorida.com/, Department of Financial Services' Website at
http: / /www.fldfs.com/ and the Auditor General's Website at http: / /www.state.fl.us /audgen
(3) Report Submission.
(a) Copies of financial reporting packages shall be submitted by or on behalf of the
Local Government directly to each of the following:
(i) The Department at the following address:
Joe Aita, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS 41
Tallahassee, Florida 32399 -3123
(ii) The Auditor General's Office at the following address:
State of Florida Auditor General
Room 401, Claude Pepper Building
111 West Madison Street
Tallahassee, Florida 32399 -1450
(iii) Copies of reports or management letters shall be submitted by or on behalf of the
Local Government directly to the Department of Environmental Protection at the
following address:
Joe Aita, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS 41
Tallahassee, Florida 32399 -3123
(b) Any reports, management letters, or other information required to be submitted to
the Department pursuant to this Agreement shall be submitted timely in accordance with
Florida Statutes, or Chapters 10.550 (local governmental entities) or 10.650 (nonprofit and for -
profit organizations), Rules of the Auditor General, as applicable.
(c) Local Governments, when submitting financial reporting packages to the
Department for audits done in accordance with Chapters 10.550 (local governmental entities) or
10.650 (nonprofit and for - profit organizations), Rules of the Auditor General, should indicate
the date that the reporting package was delivered to the Local Government in correspondence
accompanying the reporting package.
4. Project- Specific Audit.
Within 12 months after the amendment establishing final Project costs, the Local
Government shall submit to the Department a Project- specific audit report for the Loan related
revenues and expenditures. The audit shall address Loan disbursements received, Project
expenditures, and compliance with Loan Agreement covenants. The Local Government shall
cause the auditor to notify the Department immediately if anything comes to the auditor's
attention during the examination of records that would constitute a default under the Loan
Agreement. The audit findings shall set aside or question any costs that are unallowable under
Chapter 62 -503, Florida Administrative Code. A final determination of whether such costs are
allowed shall be made by the Department.
7
5. Record Retention.
The Local Government shall retain sufficient records demonstrating its compliance with
the terms of this Agreement for a period of five years from the date the audit report is issued,
and shall allow the Department, or its designee, Chief Financial Officer, or Auditor General
access to such records upon request. The Local Government shall ensure that audit working
papers are made available to the Department, or its designee, Chief Financial Officer, or
Auditor General upon request for a period of five years from the date the audit report is issued,
unless extended in writing by the Department.
The Local Government is hereby advised that the Florida Single Audit Act
Requirements may further apply to lower tier transactions that may be a result of this
Agreement.
The Local Government should confer with its chief financial officer, audit director or
contact the Department for assistance with questions pertaining to the applicability of these
requirements.
In addition, the Local Government agrees to complete and submit the Certification of
Applicability to Single Audit Act Reporting, Attachment A, attached hereto and made a part
hereof, within four (4) months following the end of the Local Government's fiscal year.
Attachment A should be submitted to the Department's Grants Development and Review
Manager at 3900 Commonwealth Boulevard, Mail Station 93, Tallahassee, Florida 32399 -3000.
The Grants Development and Review Manager is available to answer any questions at
(850) 245 -2361.
6. Monitoring.
In addition to reviews of audits conducted in accordance with Section 215.97, F.S., as
revised monitoring procedures may include, but not be limited to, on -site visits by Department
staff and /or other procedures. By entering into this Agreement, the Local Government agrees
to comply and cooperate with any monitoring procedures/ processes deemed appropriate by
the Department of Environmental Protection. In the event the Department of Environmental
Protection determines that a limited scope audit of the Local Government is appropriate, the
Local Government agrees to comply with any additional instructions provided by the
Department to the Local Government regarding such audit. The Local Government further
agrees to comply and cooperate with any inspections, reviews, investigations, or audits deemed
necessary by the Chief Financial Officer or Auditor General.
ARTICLE III - LOAN REPAYMENT ACCOUNT
3.01. LOAN DEBT SERVICE ACCOUNT.
The Local Government shall establish a Loan Debt Service Account with a Depository
and begin making Monthly Loan Deposits no later than the date set forth in Section 10.07
unless the date is revised by amendment of this Agreement.
8
Beginning six months prior to each Semiannual Loan Payment, the Local Government
shall make six Monthly Loan Deposits. The first five deposits each shall be at least equal to
one -sixth of the Semiannual Loan Payment. The sixth Monthly Loan Deposit shall be at least
equal to the amount required to make the total on deposit in the Loan Debt Service Account
equal to the Semiannual Loan Payment amount, taking into consideration investment earnings
credited to the account pursuant to Section 3.02.
Any month in which the Local Government fails to make a required Monthly Loan
Deposit, the Local Government's chief financial officer shall notify the Department of such
failure. In addition, the Local Government agrees to budget, by amendment if necessary,
payment to the Department from other legally available non -ad valorem funds all sums
becoming due before the same become delinquent. This requirement shall not be construed to
give superiority to the Department's claim on any revenues over prior claims of general
creditors of the Local Government, nor shall it be construed to give the Department the power
to require the Local Government to levy and collect any revenues other than Pledged Revenues.
3.02. INVESTMENT OF LOAN DEBT SERVICE ACCOUNT MONEYS.
Moneys on deposit in the Loan Debt Service Account shall be invested pursuant to the
laws of the State of Florida. Such moneys may be pooled for investment purposes. The
maturity or redemption date of investments shall be not later than the date upon which such
moneys may be needed to make Semiannual Loan Payments. The investment earnings shall be
credited to the Loan Debt Service Account and applied toward the Monthly Loan Deposit
requirements.
3.03. LOAN DEBT SERVICE ACCOUNT WITHDRAWALS.
The withdrawal of moneys from the Loan Debt Service Account shall be for the sole
purpose of making the Semiannual Loan Payment or for discharging the Local Government's
obligations pursuant to Section 8.01.
3.04. ASSETS HELD IN TRUST.
The assets in all accounts created under this Loan Agreement shall be held in trust for
the purposes provided herein and used only for the purposes and in the manner prescribed in
this Agreement; and, pending such use, said assets shall be subject to a lien and charge in favor
of the Department.
ARTICLE IV - PROGRAM INFORMATION
4.01. PROJECT CHANGES.
After the Department's environmental review has been completed, the Local
Government shall promptly notify the Department, in writing, of any Project change that
would require a modification to the environmental information document.
E
4.02. TITLE TO PROJECT SITE.
No later than the date established by Section 10.07, the Local Government shall have an
interest in real property sufficient for the construction and location of any facility planned and
designed through Preconstruction Activities free and clear of liens and encumbrances which
would impair the usefulness of such sites for the intended use. If a limited site title certification
is accepted at that date, the Department shall establish a date for submittal of a clear site title
certification in an amendment or new agreement which provides financing for construction of
affected facilities.
4.03. RESERVED.
4.04. RESERVED.
4.05. PROHIBITION AGAINST ENCUMBRANCES.
The Local Government is prohibited from selling, leasing, or disposing of any part of the
Water or Sewer System which would materially reduce operational integrity or Gross Revenues
so long as this Agreement, including any amendment thereto, is in effect unless the written
consent of the Department is first secured.
4.06. COMPLETION MONEYS.
In addition to the proceeds of this or subsequent loans, the Local Government covenants
that it has obtained, or will obtain, sufficient moneys from other sources to complete the
Preconstruction Activities. The Local Government also covenants that if additional Loan
financing is provided for Construction Related Costs by amendment of this Agreement, it will
obtain sufficient moneys from other sources as necessary to complete the Project.
4.07. CLOSE -OUT.
The Department may conduct a final inspection of the Preconstruction Activities
records, or if this Agreement is amended to fund Construction Related Costs, the Department
shall conduct a final inspection of the Project records. Following the inspection, deadlines for
submitting additional disbursement requests, if any, shall be established, along with deadlines
for uncompleted Loan requirements, if any. After the Department establishes the final
allowance to be financed by the Loan, the amount may be adjusted by amendment. The Loan
principal shall be reduced by any excess over the amount required to pay the approved
allowance costs. As a result of such adjustment, the Semiannual Loan Payment shall be
reduced accordingly, as addressed in Section 10.05.
4.08. LOAN DISBURSEMENTS.
Disbursements shall be made only by the State Chief Financial Officer and only when
the requests for such disbursements are accompanied by a Department certification that such
withdrawals are proper expenditures. Disbursements shall be made directly to the Local
Government for an allowance based on planning, engineering, and administration costs.
10
Requests by the Local Government for disbursements of the preconstruction funds shall
be made using the Department's disbursement request form but shall not require
documentation of actual costs incurred. Up to twenty percent of the allowance shall be
disbursed after a Loan Agreement is signed. Up to fifty percent of the allowance shall be
disbursed after the planning documentation has been completed and accepted. The remainder
of the allowance shall be disbursed after all procurement contracts are executed and shall be
adjusted to reflect as -bid costs. The Department may disburse the entire estimated allowance
amount after acceptance of the plans and specifications or completion of the request for
proposals, if the Local Government agrees to an allowance adjustment once all contracts have
been bid.
Disbursements for Construction Related Costs shall occur only as a result of an
amendment to this Agreement. The following allowance amount will be disbursed after the
specified milestone events unless the allowance is reduced pursuant to Section 10.06:
Milestone Ev Amount
Loan Agreement executed $ 161,771
Department acceptance of planning documents 404,427
Department acceptance of executed procurement contracts 242,656
Total $ 808,854
ARTICLE V - RATES AND USE OF THE WATER AND SEWER SYSTEMS
5.01. RATE COVERAGE.
The Local Government shall maintain rates and charges for the services furnished by
the Water and Sewer Systems which will be sufficient to provide, in each Fiscal Year, Pledged
Revenues equal to or exceeding 1.15 times the sum of the Semiannual Loan Payments due in
such Fiscal Year. In addition, the Local Government shall satisfy the coverage requirements of
all senior and parity debt obligations.
5.02. NO FREE SERVICE.
The Local Government shall not permit connections to, or furnish any services afforded
by, the Water or Sewer System without making a charge therefore based on the Local
Government's uniform schedule of rates, fees, and charges.
5.03. MANDATORY CONNECTIONS.
The Local Government shall adopt, as necessary, and enforce requirements, consistent
with applicable laws, for the owner, tenant or occupant of each building located on a lot or
parcel of land which is served, or may reasonably be served, by the Sewer System to connect
such building to the Sewer System.
11
5.04. NO COMPETING SERVICE.
The Local Government shall not allow any person to provide any services which would
compete with the Water or Sewer System so as to materially and adversely affect Gross
Revenues.
5.05. MAINTENANCE OF THE WATER AND SEWER SYSTEMS.
The Local Government shall operate and maintain the Water and Sewer Systems in a
proper, sound and economical manner and shall make all necessary repairs, renewals and
replacements.
5.06. ADDITIONS AND MODIFICATIONS.
The Local Government may make any additions, modifications or improvements to the
Water and Sewer Systems which it deems desirable and which do not materially reduce the
operational integrity of any part of the Water or Sewer System. All such renewals,
replacements, additions, modifications and improvements shall become part of the Water and
Sewer Systems.
5.07. COLLECTION OF REVENUES.
The Local Government shall use its best efforts to collect all rates, fees and other charges
due to it. The Local Government shall establish liens on premises served by the Water or Sewer
System for the amount of all delinquent rates, fees and other charges where such action is
permitted by law. The Local Government shall, to the full extent permitted by law, cause to
discontinue the services of the Water and Sewer Systems and use its best efforts to shut off
water service furnished to persons who are delinquent beyond customary grace periods in the
payment of Water and Sewer Systems rates, fees and other charges.
ARTICLE VI - DEFAULTS AND REMEDIES
6.01. EVENTS OF DEFAULT.
Each of the following events is hereby declared an event of default:
(1) Failure to make any Monthly Loan Deposit or to make any installment of the
Semiannual Loan Payment when it is due and such failure shall continue for a period of 30
days.
(2) Except as provided in Subsections 6.01(1) and (7), failure to comply with the
provisions of this Agreement or failure in the performance or observance of any of the
covenants or actions required by this Agreement and such failure shall continue for a period of
60 days after written notice thereof to the Local Government by the Department.
(3) Any warranty, representation or other statement by, or on behalf of, the Local
Government contained in this Agreement or in any information furnished in compliance with,
or in reference to, this Agreement, which is false or misleading.
12
(4) An order or decree entered, with the acquiescence of the Local Government,
appointing a receiver of any part of the Water or Sewer System or Gross Revenues thereof; or if
such order or decree, having been entered without the consent or acquiescence of the Local
Government, shall not be vacated or discharged or stayed on appeal within 60 days after the
entry thereof.
(5) Any proceeding instituted, with the acquiescence of the Local Government, for the
purpose of effecting a composition between the Local Government and its creditors or for the
purpose of adjusting the claims of such creditors, pursuant to any federal or state statute now
or hereafter enacted, if the claims of such creditors are payable from Gross Revenues of the
Water or Sewer System.
(6) Any bankruptcy, insolvency or other similar proceeding instituted by or against,
the Local Government under federal or state bankruptcy or insolvency law now or hereafter in
effect and, if instituted against the Local Government, is not dismissed within 60 days after
filing.
(7) Failure of the Local Government to give immediate written notice of default to the
Department and such failure shall continue for a period of 30 days.
6.02. REMEDIES.
Upon an event of default and subject to the rights of others having prior liens on the
Pledged Revenues, the Department may enforce its rights by any of the following remedies:
(1) By mandamus or other proceeding at law or in equity, cause to establish rates and
collect fees and charges for use of the Water and Sewer Systems, and to require the Local
Government to fulfill this Agreement.
(2) By action or suit in equity, require the Local Government to account for all moneys
received from the Department or from the ownership of the Water and Sewer Systems and to
account for the receipt, use, application, or disposition of the Pledged Revenues.
(3) By action or suit in equity, enjoin any acts or things which may be unlawful or in
violation of the rights of the Department.
(4) By applying to a court of competent jurisdiction, cause to appoint a receiver to
manage the Water and Sewer Systems, establish and collect fees and charges, and apply the
revenues to the reduction of the obligations under this Agreement.
(5) By certifying to the Auditor General and the Chief Financial Officer delinquency on
Loan repayments, the Department may intercept the delinquent amount plus a penalty from
any unobligated funds due to the Local Government under any revenue or tax sharing fund
established by the State, except as otherwise provided by the State Constitution. The
Department may impose a penalty in an amount not to exceed an interest rate of 18 percent per
annum on the amount due in addition to charging the cost to handle and process the debt.
Penalty interest shall accrue on any amount due and payable beginning on the 30th day
following the date upon which payment is due.
13
(6) By notifying financial market credit rating agencies and potential creditors.
(7) By suing for payment of amounts due, or becoming due, with interest on overdue
payments together with all costs of collection, including attorneys' fees.
(8) By accelerating the repayment schedule or increasing the Financing Rate on the
unpaid principal of the Loan to as much as 1.667 times the Financing Rate for a default under
Subsection 6.01(1).
6.03. DELAY AND WAIVER.
No delay or omission by the Department to exercise any right or power accruing upon
an event of default shall impair any such right or power or shall be construed to be a waiver of
any such default or acquiescence therein, and every such right and power may be exercised as
often as may be deemed expedient. No waiver or any default under this Agreement shall
extend to or affect any subsequent event of default, whether of the same or different provision
of this Agreement, or shall impair consequent rights or remedies.
ARTICLE VII - THE PLEDGED REVENUES
7.01. SUPERIORITY OF THE PLEDGE TO THE DEPARTMENT.
From and after the effective date of this Agreement, the Department shall have a lien on
the Pledged Revenues, which along with any other Department State Revolving Fund liens on
the Pledged Revenues, on equal priority, will be prior and superior to any other lien, pledge or
assignment with the following exception. All obligations of the Local Government under this
Agreement shall be junior, inferior, and subordinate in all respects in right of payment and
security to any additional senior obligations issued with the Department's consent pursuant to
Section 7.02. Any of the Pledged Revenues may be released from the lien on such Pledged
Revenues in favor of the Department if the Department makes a determination, based upon
facts deemed sufficient by the Department, that the remaining Pledged Revenues will, in each
Fiscal Year, equal or exceed 1.15 times the debt service coming due in each Fiscal Year under
the terms of this Agreement.
7.02. ADDITIONAL DEBT OBLIGATIONS.
The Local Government may issue additional debt obligations on a parity with, or senior
to, the lien of the Department on the Pledged Revenues provided the Department's written
consent is obtained. Such consent shall be granted if the Local Government demonstrates at the
time of such issuance that the Pledged Revenues, which may take into account reasonable
projections of growth of the Water and Sewer Systems and revenue increases, plus revenues to
be pledged to the additional proposed debt obligations will, during the period of time
Semiannual Loan Payments are to be made under this Agreement, equal or exceed 1.15 times
the annual combined debt service requirements of this Agreement and the obligations
proposed to be issued by the Local Government and will satisfy the coverage requirements of
all other debt obligations secured by the Pledged Revenues.
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ARTICLE VIII - GENERAL PROVISIONS
8.01. DISCHARGE OF OBLIGATIONS.
All payments required to be made under this Agreement shall be cumulative and any
deficiencies in any Fiscal Year shall be added to the payments due in the succeeding year and
all years thereafter until fully paid. Payments shall continue to be secured by this Agreement
until all of the payments required shall be fully paid to the Department. If, at any time, the
Local Government shall have paid, or shall have made provision for the timely payment of, the
entire principal amount of the Loan, and as applicable, Loan Service Fee, interest, and Grant
Allocation Assessment charges, the pledge of, and lien on, the Pledged Revenues to the
Department shall be no longer in effect. Deposit of sufficient cash, securities, or investments,
authorized by law, from time to time, may be made to effect defeasance of this Loan. However,
the deposit shall be made in irrevocable trust with a banking institution or trust company for
the sole benefit of the Department. There shall be no penalty imposed by the Department for
early retirement of this Loan.
8.02. RECORDS AND STATEMENTS.
Books, records, reports, engineering documents, contract documents, and papers shall
be available to the authorized representatives of the Department and the U.S. Environmental
Protection Agency's Inspector General for inspection at any reasonable time after the Local
Government has received a disbursement and until five years after the date that the Project -
specific audit report, required under Subsection 2.03(4), is issued.
8.03. ACCESS TO WORK SITE.
The Local Government shall provide access to offices and other sites where
Preconstruction Activities or Project work (if financed by this Loan) is ongoing, or has been
performed, to authorized representatives of the Department at any reasonable time. The Local
Government shall cause its engineers and contractors to provide copies of relevant records and
statements for inspection.
8.04. ASSIGNMENT OF RIGHTS UNDER AGREEMENT.
The Department may assign any part of its rights under this Agreement after
notification to the Local Government. The Local Government shall not assign rights created by
this Agreement without the written consent of the Department.
8.05. AMENDMENT OF AGREEMENT.
This Agreement may be amended, except that no amendment shall be permitted which
is inconsistent with statutes, rules, regulations, executive orders, or written agreements
between the Department and the U.S. Environmental Protection Agency. A final amendment
establishing the final allowance costs financed by this Loan and the actual Loan Service Fee
shall be completed after the Department's final inspection of relevant documents and records.
15
8.06. ANNULMENT OF AGREEMENT.
The Department may unilaterally annul this Agreement if the Local Government has
not drawn any of the Loan proceeds within eighteen months after the effective date of this
Agreement. If the Department unilaterally annuls this Agreement, the Department will
provide written notification to the Local Government.
8.07. SEVERABILITY CLAUSE.
If any provision of this Agreement shall be held invalid or unenforceable, the remaining
provisions shall be construed and enforced as if such invalid or unenforceable provision had
not been contained herein.
8.08. USE AS MATCHING FUNDS.
The U.S. Environmental Protection Agency has provided a class deviation from the
provisions of 40 CFR 35.3125(b)(1) to allow these second tier funds to be used as local matching
requirements for most EPA grant funded treatment works projects, including special
Appropriations Act projects.
8.09. COMPLIANCE VERIFICATION.
(1) The Local Government shall periodically interview a sufficient number of
employees entitled to Davis -Bacon prevailing wages (covered employees) to verify that
contractors or subcontractors are paying the appropriate wage rates. As provided in 29 CFR
5.6(a)(6), all interviews must be conducted in confidence. The Local Government must use
Standard Form 1445 or equivalent documentation to memorialize the interviews. Copies of the
SF 1445 are available from EPA on request.
(2) The Local Government shall establish and follow an interview schedule based on its
assessment of the risks of noncompliance with Davis -Bacon posed by contractors or
subcontractors and the duration of the contract or subcontract. At a minimum, the Local
Government must conduct interviews with a representative group of covered employees within
two weeks of each contractor or subcontractor's submission of its initial weekly payroll data
and two weeks prior to the estimated completion date for the contract or subcontract. Local
Governments must conduct more frequent interviews if the initial interviews or other
information indicates that there is a risk that the contractor or subcontractor is not complying
with Davis - Bacon. Local Governments shall immediately conduct necessary interviews in
response to an alleged violation of the prevailing wage requirements. All interviews shall be
conducted in confidence. As an alternative, a minimum of 25% of the work force shall be
interviewed over the life of the Project and all classifications represented on the payroll must be
included.
(3) The Local Government shall periodically conduct spot checks of a representative
sample of weekly payroll data to verify that contractors or subcontractors are paying the
appropriate wage rates. The Local Government shall establish and follow a spot check schedule
based on its assessment of the risks of noncompliance with Davis -Bacon posed by contractors
or subcontractors and the duration of the contract or subcontract. At a minimum, the Local
16
Government must spot check payroll data within two weeks of each contractor or
subcontractor's submission of its initial payroll data and two weeks prior to the completion
date the contract or subcontract. Local Governments must conduct more frequent spot checks if
the initial spot check or other information indicates that there is a risk that the contractor or
subcontractor is not complying with Davis - Bacon. In addition, during the examinations the
Local Government shall verify evidence of fringe benefit plans and payments thereunder by
contractors and subcontractors who claim credit for fringe benefit contributions.
(4) The Local Government shall periodically review contractors and subcontractors use
of apprentices and trainees to verify registration and certification with respect to apprenticeship
and training programs approved by either the U.S Department of Labor (DOL) or a state, as
appropriate, and that contractors and subcontractors are not using disproportionate numbers
of, laborers, trainees and apprentices. These reviews shall be conducted in accordance with the
schedules for spot checks and interviews described in items (2) and (3) above.
(5) Local Governments must immediately report potential violations of the Davis -
Bacon prevailing wage requirements to the EPA Davis -Bacon contact Sheryl Parsons at
Parsons.Sheryl@epamail.epa.gov and to the appropriate DOL Wage and Hour District Office
listed at http: / /www.dol.gov /esa /contacts /whd /america2.htm
8.10. EMPLOYMENT ELIGIBILITY VERIFICATION.
The Local Government agrees that it will enroll and participate in the federal E- Verify
Program for Employment Verification under the terms provided in the "Memorandum of
Understanding" governing the program. The Local Government further agrees to provide to
the Department, within thirty (30) days of the effective date of this Agreement/ amendment,
documentation of such enrollment in the form of a copy of the E- Verify "Edit Company Profile"
screen, which contains proof of enrollment in the E- Verify Program (this page can be accessed
from the "Edit Company Profile' link on the left navigation menu of the E- Verify employer's
homepage).
The Local Government further agrees that it will require each subcontractor that
performs work under this Agreement to enroll and participate in the E- Verify Program within
ninety days of the effective date of this Agreement/ amendment or within ninety (90) days of
the effective date of the contract between the Local Government and the subcontractor,
whichever is later. The Local Government shall obtain from the subcontractor (s) a copy of the
"Edit Company Profile" screen indicating enrollment in the E- Verify Program and make such
record(s) available to the Department upon request.
The Local Government further agrees to maintain records of its participation and
compliance with the provisions of the E- Verify program, including participation by its
subcontractors as provided above, and to make such records available to the Department or
other authorized state entity consistent with the terms of the Memorandum of Understanding.
Compliance with the terms of this Employment Eligibility Verification provision is
made an express condition of this Agreement and the Department may treat a failure to comply
as a material breach of the Agreement.
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ARTICLE IX - RESERVED
ARTICLE X - DETAILS OF FINANCING
10.01. PRINCIPAL AMOUNT OF LOAN.
The principal amount of the Loan is $847,154, which includes $808,854 to be disbursed
to the Local Government and $38,300 of Capitalized Interest.
Capitalized Interest is not disbursed to the Local Government, but is amortized via
periodic Loan repayments to the Department as if it were actually disbursed. Capitalized
Interest is computed at the Financing Rate, or rates, set for the Loan. It accrues and is
compounded annually from the time when disbursements are made until six months before the
first Semiannual Loan Payment is due. Capitalized Interest is estimated prior to establishment
of the schedule of actual disbursements.
10.02. LOAN SERVICE FEE.
The Loan Service Fee is estimated as $16,177 for the Loan amount authorized to date.
The fee represents two percent of the Loan amount excluding Capitalized Interest; that is, two
percent of $808,854. The fee shall be revised with any increase or decrease amendment. The
Loan Service Fee shall be based on actual Project costs and will be assessed in the final Loan
amendment. The Local Government shall pay the Loan Service Fee from the first available
repayments following the final amendment.
Capitalized Interest is computed on the assessed Loan Service Fee at the Financing Rate,
or rates and included in the final amendment. It accrues and is compounded annually from the
final amendment date until six months before the first Semiannual Loan Payment is due. A
service fee assessed in a final amendment occurring later than six months before the first
Semiannual Loan Payment date would not accrue Capitalized Interest charges.
10.03. FINANCING RATE.
The Financing Rate on the unpaid principal of the Loan amount specified in
Section 10.01 is 2.87 percent per annum. The Financing Rate equals the sum of the interest rate
and the Grant Allocation Assessment Rate. The interest rate is 1.435 percent per annum and the
Grant Allocation Assessment rate is 1.435 percent per annum. However, if this Agreement is
not executed by the Local Government and returned to the Department before September 1,
2011, the Financing Rate may be adjusted. A new Financing Rate shall be established for any
funds provided by amendment to this Agreement.
10.04. LOAN TERM.
The Loan shall be repaid in 40 Semiannual Loan Payments.
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10.05. REPAYMENT SCHEDULE.
The Semiannual Loan Payment shall be computed based upon the principal amount of
the Loan plus the estimated Loan Service Fee and the principle of level debt service. The
Department will deduct the Loan Service Fee and any associated interest from the first
available repayments following the final amendment. The Loan principal and Semiannual
Loan Payment amounts may be revised by amendment of the Agreement. After the final
disbursement of Loan proceeds, the Loan principal will be adjusted to reflect the actual dates
and amounts of disbursements. Accordingly, the Semiannual Loan Payment amount shall be
adjusted, taking into consideration any previous payments.
Until the principal amount of the Loan is amended, the Semiannual Loan Payment shall
be in the amount of $28,517. The interest and Grant Allocation Assessment portions of each
Semiannual Loan Payment shall be computed, using their respective rates, on the unpaid
balance of the principal amount of the Loan, which principal includes Capitalized Interest.
Interest (at the Financing Rate) shall also be computed on the unpaid balance of the estimated
Loan Service Fee. The interest and Grant Allocation Assessment on the unpaid balance shall be
computed as of the due date of each Semiannual Loan Payment.
Unless repayment is deferred by an amendment to this Agreement, Semiannual Loan
Payments shall be received by the Department beginning on April 15, 2015 and semiannually
thereafter on October 15 and April 15 of each year until all amounts due have been fully paid.
Funds transfer shall be made by electronic means.
The Semiannual Loan Payment amount is based on the total amount owed of $863,331,
which consists of the Loan principal plus the estimated Loan Service Fee.
10.06. PROJECT RELATED COSTS.
The Local Government and the Department acknowledge that actual Project costs and
Preconstruction Activities allowance costs have not been determined as of the effective date of
this Agreement. An adjustment to the Preconstruction Activities allowance may be made due
to a reduction in the scope of work proposed for construction or based on construction contract
bid prices. Failure to achieve Department acceptance of plans and specifications prior to the
date specified in Section 10.07 may cause adjustment of the Preconstruction allowance.
Capitalized Interest will be recalculated based on actual dates and amounts of Loan
disbursements. The final allowance amount, and Project costs if financed by this Loan, shall be
established in the final amendment. Changes in the Preconstruction Activities allowance or
Project costs may also occur as a result of the Local Government's audit or the Department's
audit.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
19
The Local Government agrees to the following estimates of the Preconstruction
Activities allowance and related costs:
Allowance (Disbursable Amount) $
Capitalized Interest $
TOTAL (Loan Principal Amount) $
IM
W -STIff
847,154
The listed allowance is based on estimated construction costs of $9,000,000, which
excludes Capitalized Interest.
10.07. SCHEDULE.
All Preconstruction Activities shall be completed no later than the completion of all
Preconstruction Activities date set forth below. Planning activities shall be completed in time
to enable the Department to accept the planning documents as scheduled in Subsection (1)
below.
(1) Acceptance of the planning documents by the Department (Design Authorization)
no later than September 15, 2012.
(2) Design of all Project facilities proposed for loan funding no later than
April 15, 2013.
(3) Certification of availability of all sites for facilities proposed for loan funding no
later than April 15, 2013.
(4) Evidence that permitting requirements have been satisfied for all Project facilities
proposed for construction loan funding no later than March 15, 2014.
(5) Completion of all Preconstruction Activities for all Project facilities proposed for
loan funding no later than April 15, 2014.
(6) Unless deferred by amendment, establish the Loan Debt Service Account and begin
Monthly Loan Deposits no later than October 15, 2014.
(7) Unless deferred by amendment, provide certifications under Subsection 2.01(10)
beginning January 15, 2015, and annually thereafter no later than September 30 of each year
until the final Semiannual Loan Payment is made.
(8) Unless this Agreement is amended to provide construction financing, the first
Semiannual Loan Payment in the amount of $28,517 shall be due April 15, 2015.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
20
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1
ARTICLE XI - EXECUTION OF AGREEMENT
This Loan Agreement WW590130 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.
IN WITNESS WHEREOF, the Department has caused this Agreement to be executed on
its behalf by the Deputy Director 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 shall be as set forth below by the Deputy Director.
Attest
SEAL
for
Z-O /\J J/C- v /�
A ®
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
JUN 10 2011
Deputy Director Date
Division of Water Resource Management
Attachment included as part of this Agreement:
Attachment A - Certification of Applicability to Single Audit Act Reporting
21
I attest to the opinion expressed in Section
2.02, entitled Legal Authorization.
i<
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for
Z-O /\J J/C- v /�
A ®
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
JUN 10 2011
Deputy Director Date
Division of Water Resource Management
Attachment included as part of this Agreement:
Attachment A - Certification of Applicability to Single Audit Act Reporting
21
I attest to the opinion expressed in Section
2.02, entitled Legal Authorization.
Florida Department of Rick Scott
Governor
Environmental Protection Jennifer Carroll
Bob Martinez Center Lt. Governor
2600 Blair Stone Road
Tallahassee, Florida 32399 -2400 Herschel T. Vinyard, Jr.
Secretary
FED EX - DELIVERY CONFIRMATION REQUIRED
JUN 15 2011
Mr. Paul R. Moore, P.E.
Utility Director
City of Sanford
300 North Park Avenue
Sanford, Florida 32771
Re: WW590130 - Sanford
Treatment Facilities
(Reduce Nutrients)
Dear Mr. Moore:
We are pleased to provide State Revolving Fund financial assistance for the preconstruction of
your treatment facilities. One original of the fully executed loan agreement is enclosed. To
draw money under the agreement, please call David Courson at 850/245 -8358 for assistance in
completing a disbursement request. Please note that a copy of the E- verify screen "Edit
Company Profile" needs to be provided within 30 days of signing the agreement. Funds may
be delayed if not recieved after that time.
We congratulate you and your staff on your efforts and are pleased that we can work with you
on this project.
Sincerely,
Phil Coram, P.E., Deputy Director
Division of Water Resource Management
RH/ lb
Enclosures
cc: Honorable Jeff Triplett - City of Sanford
Benjamin M. Fries - CPH Engineers, Inc.
"More Protection, Less Process
ww w. ilep.slate.jl.us