1368* FDEP SRF DW590110 wrou b
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UTILITY DEPARTMENT
TRANSMITTAL MEMORANDUM
To: City Clerk's Office
RE: Drinking Water State Revolving Fund Amendment 1 Loan Agreement DW590110
The item(s) noted below is/are attached and forwarded to your office for the following action(s):
n Development Order ❑ Mayor's signature
Li Final Plat (original mylars) n Recording
❑ Letter of Credit El Rendering
n Maintenance Bond ►1 Safe keeping (Vault)
❑ Ordinance ❑
El Performance Bond
❑ Resolution
Once completed, please:
❑ Return original
❑ Return copy
Special Instructions:
Per Migdalia Hernandez
Please advise if you have any questions regarding the above.
Thank you!
12}NL-- 5Hipi
From Date
Qao1EC1ION RICK SCOTT C�
o• FLORIDA DEPARTMENT OF GOVERNOR C.7.1
ENVIRONMENTAL PROTECTION C.ARLOS LOPEZ-CANTERA
BOB MARTINEZ CENTER LT.GOVERNOR
FLORIA
2600 BLAIRSTONE ROAD MS 3505
TALLAHASSEE,FLORIDA 32399-2400 HERSCHEL T.VINYARD JR. ^^I
SECRETARY
<X'
CERTIFIED MAIL - RETURN RECEIPT REQUESTED
May 5, 2014
Ms. Migdalia Hernandez
City of Sanford
Post Office Box 1788
Sanford, Florida 32772
Re: DW590110— Sanford
Distribution
Dear Ms. Hernandez:
Enclosed is one executed original of Amendment 1 to the City of Sanford's loan
agreement under the State Revolving Fund program. The amendment is now in effect,
and no further amendments are anticipated. Please note that the required separate
project-specific audit must be submitted to the Department within one year of the
effective date of this amendment. The audit should be emailed to
SRF_Reporting@dep.state.fl.us.
We congratulate you and your staff on the completion of your project and are pleased that
we could work with you.
Sincerely,
&J. \.6t136f-
Angel' echt, Program Administrator
State Revolving Fund Management
AK/ph
Enclosure
cc: Caryn Simkins—City of Sanford
Norton Bonaparte—City of Sanford
www.dep.statefl.us
DRINKING WATER STATE REVOLVING FUND
AMENDMENT 1 TO LOAN AGREEMENT DW590110
CITY OF SANFORD
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and the CITY OF SANFORD, FLORIDA,
(Project Sponsor) existing as a local government agency under the laws of the State of Florida.
WITNESSETH:
WHEREAS,the Department and the Project Sponsor entered into a Drinking Water State
Revolving Fund Loan Agreement,Number DW590110, authorizing a Loan amount of
$3,000,000, excluding Capitalized Interest and including a Principal Forgiveness amount of
$2,550,000; and
WHEREAS, the Semiannual Loan Payment amount needs revision to reflect adjustment of the
Loan amount and the six Semiannual Loan Payments received by the Department from the
Project Sponsor; and
WHEREAS, revised provisions for audit and monitoring along with related changes to the
Project schedule are needed.
NOW, THEREFORE,the parties hereto agree as follows:
1. The total disbursed amount is $3,000,000 which includes $2,550,000 in Principal
Forgiveness and a balance of$450,000 in Loan.
2. The total principal amount of the Loan is $455,246.73,which consists of$450,000
disbursed to the Project Sponsor and $5,246.73 of accrued Capitalized Interest at an interest rate
of 2.71 percent per annum.
3. The unpaid principal balance of the Loan is $396,709.81 at an interest rate of 2.71
percent per annum, which amount accounts for the Department's receipt of six Semiannual Loan
Payments.
4. The Semiannual Loan Payment amount, adjusted to account for repayments received
to date, is hereby revised and shall be in the amount of$12,983.80. Such payments shall be
received by the Department on June 15, 2014 and semiannually thereafter on December 15 and
June 15 of each year until all amounts due hereunder have been fully paid.
5. The Project Sponsor and the Department acknowledge that changes in Project costs
may occur as a result of the Project Sponsor's Project audit or a Department audit pursuant to
Chapter 62-552 of the Florida Administrative Code. Unless this Agreement is amended
subsequent to an audit,the following Project disbursements shall be final.
1
PROJECT
CATEGORY COST($)
Construction and Demolition 2,774,332.00
Technical Services During Construction 225,668.00
SUBTOTAL (Total Disbursed) 3,000,000.00
Less Principal Forgiveness (2,550,000.00)
Adjusted Loan Amount 450,000.00
Capitalized Interest 5,246.73
TOTAL (Loan Principal Amount) 455,246.73
6. The Project-specific audit required under Subsection 2.03(4) of the Agreement shall
be submitted within twelve months after the effective date of this amendment.
7. All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
This Amendment 1 to Loan Agreement DW590110 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 amendment to the Loan Agreement
to be executed on its behalf by the Program Administrator, and the Project Sponsor has caused
this amendment to be executed on its behalf by its Authorized Representative and by its affixed
seal. The effective date of this amendment shall be as set forth below by the Program
Administrator.
for
CITY OF SANF
ArrAKIO
vamerr
Attest: Attest as to form and legal sufficiency:
cv_444A-42.., e&4A olvx-\N\ Eat-
City Clerk City AtIorne
L.0&//th&r: r
SEAL
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
tit laud& MAY 05 2014
t'rogram Administrator Date
State Revolving Fund
3