1788 WW590131 Sanford Treatment Facility Amd #3 A
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TRANSMITTAL MEMORANDUM
T : City Clerk's Office
: WW590131 —Sanford Treatment Facility Amendment No. 3
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The item(s)noted below is/are attached and forwarded to your office for the following action(s):
❑ Development Order ❑ Mayor's signature
❑ Final Plat(original mylars) ❑ Recording
❑ Letter of Credit ❑ Rendering
❑ Maintenance Bond ® Safe keeping (Vault)
❑ Ordinance ❑
❑ Performance Bond
❑ Resolution
Once completed,please:
❑ Return original
❑ Return copy
Special Instructions:
One original for safe keeping!
Please advise �ou have any questions regarding the above.
Thank you!
F� m Date
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{�aa cePar=� Rick Florida Department of Governor
Scott
� Environmental Protection
Carlos Lopez-Cantera
Marjory Stoneman Douglas Building Lt. Governor
3900 Commonwealth Boulevard
A0 tie o Tallahassee, Florida 32399-3000 Jonathan P. Secretary
ental 9,0
ry
CERTIFIED MAIL- RETURN RECEIPT REQUESTED
FEB 0 8 2016
Mr. Paul Moore
Utilities Director
City of Sanford
Post Office Box 1788
Sanford, Florida 32772
Re: WW590131 —Sanford
Treatment Facilities
Dear Mr. Moore:
Enclosed is one original of Amendment 3 to the City's wastewater improvement project.
The amendment reallocates the budget and extends the date of completion for the project.
The amendment is now in effect.
If we may be of further assistance,please contact Hana Juman at(850) 245-2920.
Sincerely,
1
Angel echt, Program Administrator
State Revolving Fund Management
AK/fj
Enclosure
cc: Norton Bonaparte—City of Sanford
Benjamin Fries—CPH Engineers, Inc.
Cynthia Lindsay—City of Sanford
Jeff Triplett—City of Sanford
www,dep.state.fl.us
AMENDMENT 3 TO LOAN AGREEMENT WW590131
CITY OF SANFORD
This amendment is executed by the FLORIDA WATER POLLUTION CONTROL FINANCING
CORPORATION (the "Corporation") and the CITY OF SANFORD, FLORIDA, (the "Local
Borrower")existing as a local governmental agency under the laws of the State of Florida.
WITNESSETH:
WHEREAS,the Corporation and the Local Borrower entered into a Clean Water State Revolving
Fund Loan Agreement, Number WW590131, as amended, authorizing a Loan amount of
$16,662,532, excluding Capitalized Interest;and
WHEREAS, the Local Borrower is entitled to additional financing of $6,000,000, excluding
Capitalized Interest; and
WHEREAS,revised provisions for audit and monitoring are needed; and
WHEREAS,a Financing Rate must be established for the additional financing amount awarded in
this amendment; and
WHEREAS, a Loan Service Fee must be estimated for the additional financing; and
WHEREAS,the Semiannual Loan Payment amount needs revision to reflect an adjustment in the
Loan amount; and
WHEREAS,the Project costs need adjustment to reflect revised estimates; and
WHEREAS,Loan repayment activities need rescheduling to give the Local Government
additional time to complete construction.
NOW,THEREFORE,the parties hereto agree as follows:
1. Section 2.04 is deleted and replaced as follows:
The Local Borrower 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.
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(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State Resources Awarded to the Local Borrower Pursuant to this Agreement Consist of the
Following Resources Subject to Section 215.97, F.S.:
State CSFA Title or State
Program CSFA Fund Source Funding Appropriation
Number Funding Source Number Description Amount Category
Wastewater Wastewater
Original Treatment and 37.077 Treatment Facility $22,662,532 140131
Agreement Stormwater
Management TF Construction
(2) Audits.
(a) In the event that the Local Borrower 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 Borrower must have a State single 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 Borrower 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 Borrower 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 Borrower 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 Borrower 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
Borrower 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).
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(d) The Local Borrower 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.
For information regarding the Florida Catalog of State Financial Assistance (CSFA),a Local
Borrower should access the Florida Single Audit Act website located at
https://at)ps.fldfs.com/fsaa for assistance. In addition to the above websites,the following
websites may be accessed for information: Legislature's Website at
http://www.leg.state.fl.us/Welcome/index.cfin, State of Florida's website at
http://www.myflorida.com/,Department of Financial Services' Website at http://www.fldfs.com/
and the Auditor General's Website at http://www.Lnyflorida.com/audgen.
(e) The Local Borrower should confer with its chief financial officer, audit director or
contact the Department for assistance with questions pertaining to the applicability of these
requirements.
(3) Report Submission.
(a) Copies of financial reporting packages shall be submitted by or on behalf of the
Local Borrower directly to each of the following:
(i) The Department of Environmental Protection at one of the following addresses:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General
3900 Commonwealth Boulevard,MS 40
Tallahassee,Florida 32399-3123
Electronically:
FDEPSingleAudit@dep.state.fl.us
(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 Borrower directly to the Department of Environmental Protection at either of the
following addresses:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General
3900 Commonwealth Boulevard,MS 40
Tallahassee,Florida 32399-3123
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Electronically:
FDEPSingleAudit@dep.state.fl.us
(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 Borrower in correspondence accompanying
the reporting package.
(4) Record Retention.
The Local Borrower 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 Borrower 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 Borrower 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 Borrower should confer with its chief financial officer, audit director or
contact the Department for assistance with questions pertaining to the applicability of these
requirements.
(5) 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 Borrower 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 Borrower is appropriate,the Local Borrower
agrees to comply with any additional instructions provided by the Department to the Local
Borrower regarding such audit. The Local Borrower further agrees to comply and cooperate with
any inspections,reviews,investigations,or audits deemed necessary by the Chief Financial
Officer or Auditor General.
2. Additional financing in the amount of$6,000,000, excluding Capitalized Interest, is
hereby awarded to the Local Borrower.
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3. A Financing Rate of 2.08 percent per annum is established for the additional financing
amount awarded in this amendment. Individually,the interest rate is 1.04 percent per annum and
the Grant Allocation Assessment rate is 1.04 percent per annum. However, if this amendment is
not executed by the Local Borrower and returned to the Department before January 1, 2016, the
Financing Rate may be adjusted.
4. The estimated principal amount of the Loan is hereby revised to $23,466,032,which
consists of $22,662,532 authorized for disbursement to the Local Borrower and $803,500 of
Capitalized Interest. This total consists of the following:
(a) Original Agreement of $12,476,943, including $11,871,743 authorized for
disbursement to the Local Borrower and $605,200 of Capitalized Interest, at a Financing Rate of
2.16 percent per annum (the interest rate is 1.08 percent per annum and the Grant Allocation
Assessment rate is 1.08 percent per annum); and
(b) Amendment 2 of$4,898,289,including$4,790,789 authorized for disbursement to the
Local Borrower and $107,500 of Capitalized Interest, at a Financing Rate of 2.15 percent per
annum (the interest rate is 1.075 percent per annum and the Grant Allocation Assessment rate is
1.075 percent per annum); and
(c) Amendment 3 of$6,090,800,including$6,000,000 authorized for disbursement to the
Local Borrower and$90,800 of Capitalized Interest,at a Financing Rate of 2.08 percent per annum
(the interest rate is 1.04 percent per annum and the Grant Allocation Assessment rate is 1.04
percent per annum).
5. An additional Loan Service Fee in the amount of$120,000,for a total of$453,251,is
hereby estimated. The fee represents two percent of the Loan amount excluding Capitalized
Interest,that is,two percent of$22,662,532.
6. The Semiannual Loan Payment amount is hereby revised and shall be in the amount
of$737,999. Such payments shall be paid to, and must be received by the Trustee beginning on
December 15, 2017 and semiannually thereafter on June 15 and December 15 of each year until
all amounts due hereunder have been fully paid. Until this Agreement is further amended, each
Semiannual Loan Payment will be proportionally applied toward repayment of the amounts owed
on each incremental Loan amount at the date such payment is due.
7. Section 10.06 PROJECT RELATED COSTS is revised as follows:
The Local Borrower, the Corporation and the Department acknowledge that the actual
Project costs have not been determined as of the effective date of this Agreement. Project cost
adjustments may be made as a result of construction bidding or Project changes agreed upon by
the Department. Capitalized Interest will be recalculated based on actual dates and amounts of
Loan disbursements. If the Local Borrower receives other governmental financial assistance for
this Project, the costs funded by such other governmental assistance will not be financed by this
Loan. The Department shall establish the final Project costs after its final inspection of the Project
records. Changes in Project costs may also occur as a result of the Local Borrower's Project audit
or a Department audit.
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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 Financing Rate established for the original Loan amount shall apply to such disbursements for
the purpose of determining the associated Capitalized Interest and repayment amount. The
Financing Rate established for any additional increment of Loan financing shall be used to
determine the Capitalized Interest and repayment amount associated with the funds disbursed from
that increment.
The Local Borrower agrees to the following estimates of Project costs:
PROJECT COSTS
CATEGORY COST
Allowance costs 1,232,272
Construction and Demolition 20,477,000
Contingencies 723,850
Technical Services After Bid Opening 1,117,600
Allowance paid in WW590130 (888,190)
Subtotal(Disbursable Amount) 22,662,532
Capitalized Interest 803,500
TOTAL(Loan Principal Amount) 23,466,032
8. The items scheduled under Section 10.07 of the Agreement, as amended, are
rescheduled as follows:
(1) Completion of Project construction is scheduled for June 15, 2017.
(2) Establish the Loan Debt Service Account and begin Monthly Loan Deposits no later
than June 15,2017.
(3) The date for the certification required under Subsection 2.01(10) of the Agreement is
hereby revised.The initial annual certification shall be submitted no later than September 15,2017.
Thereafter,the annual certification shall be submitted no later than September 30 of each year until
the final Semiannual Loan Repayment is made.
(4) The first Semiannual Loan Payment in the amount of $737,999 shall be due
December 15, 2017.
9. All other terms and provisions of the Loan Agreement shall remain in effect.
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This Amendment 3 to Loan Agreement WW590131 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 Corporation has caused this amendment to the Loan Agreement to
be executed on its behalf by its Chief Executive Officer and the Local Borrower 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 Chief Executive Officer of
the Corporation.
for
FLORIDA WATER POLLUTION CONTROL FINANCING CORPORATION
Chief Executive Officer IDate
1
F �
Reiwed andOpr6ved the Co rte Secretary
or
CITY F S ARD
d
or
Attest: Approved as to form and legal s fficiency:
City Clerk City Attorney
SEAL `
APPROVED AND ACCEPTED BY THE STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION. ..
Secretary or Designee
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