1788* WW590131 Amdmt #5 - SRF Fund Loan Agrmt -1877-
UTILITY DEPARTMENT
TRANSMITTAL MEMORANDUM
To: City Clerk's Office
RE: WW590131 Amendment 5 to SRF Fund loan agreement
The item(s) noted below is/are attached and forwarded to your office for the following action(s):
Fj Development Order F] Mayor's signature
❑ Final Plat(original mylars) ❑ Recording
❑ Letter of Credit ❑ Rendering
❑ Maintenance BondSafe keeping(Vault)
F] Ordinance EJ
Fj Performance Bond
F1 Resolution
n
Once completed,please:
❑ Return
❑ Return copy
EJ
Special Instructions:
Safe keeping for Bill Marcous!
Thank you!
Y:�A Fr Date
pePar= Florida Department of Governor
w0 Environmental Protection
- Carlos Lopez-Cantera
Marjory Stoneman Douglas Building Lt. Governor
3900 Commonwealth Boulevard
tie. Tallahassee, Florida 32399-3000 Ryan E. Matthews
ry"10nta4 9t Interim Secretary
CERTIFIED MAIL- RETURN RECEIPT REQUESTED
February 20, 2017
Mr. Bill Marcous
Interim Utilities Director
City of Sanford
Post Office Box 1788
Sanford, Florida 32772
Re: WW590131 -Sanford
Treatment Facilities
Dear Mr. Marcous:
We are pleased to provide additional financing under the State Revolving Fund loan program for
construction of your project. Enclosed is one original of Amendment 5 to your loan. The
amendment is now in effect.
We congratulate you and your staff on your efforts and are pleased that we can continue working
with you on this project. If we may be of further assistance, please contact Teresa Cruce at
(850)245-2910.
Sincerely,
2Anggetlaecht, Program Administrator
State Revolving Fund Management
AK/tc
Enclosure
cc: Norton Bonaparte-City of Sanford
Benjamin Fries-CPH Engineers, Inc.
Cynthia Lindsay-City of Sanford
Jeff Triplett-City of Sanford
www.dep.5tate.fl.us
AMENDMENT 5 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 $1,732,500, 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.
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.
(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
FollowingResources 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 $18,395,032 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$750,000 in any fiscal year of such Local Borrower,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 $750,000 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
Borrower in which the$750,000 threshold has not been met. In the event that the Local Borrower
expends less than $750,000 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 Borrower's resources obtained from other than State entities).
(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://apl2s.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.cfm, State of Florida's website
at http://www.myflorida.com/, Department of Financial Services' Website at
hLtp://www.fldfs.com/and the Auditor General's Website at htt_p://www.myflorida.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 reporting packages for audits conducted in accordance with OMB Circular
A-133, as revised and 2 CFR Part 200, Subpart F, and required by Subsection 2.03(2) of this
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Agreement shall be submitted,when required by Section.320(d),OMB Circular A-133,as revised
and 2 CFR Part 200, Subpart F, by or on behalf of the Local Borrower directly to each of the
following:
(i) The Department at one of the following address:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General,MS40
3900 Commonwealth Boulevard
Tallahassee,Florida 32399-30000
Electronically:
FDEPSingleAudit(cr�,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 at the following address:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General
3900 Commonwealth Boulevard,MS 40
Tallahassee,Florida 32399-3123
Electronically:
FDEPSingIeAuditndep.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 Borrowers,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.
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(3) 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 of the final amendment, 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 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 of the final amendment, unless extended in writing by the
Department.
(4) 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. Section 8.10 is added to the Agreement as follows:
8.10. PUBLIC RECORDS ACCESS.
(1) The Local Borrower shall comply with Florida Public Records law under Chapter 119,
F.S. Records made or received in conjunction with this Agreement are public records under
Florida law, as defined in Section 119.011(12),F.S. The Local Borrower shall keep and maintain
public records required by the Department to perform the services under this Agreement.
(2) This Agreement may be unilaterally canceled by the Department for refusal by the
Local Borrower to either provide to the Department upon request, or to allow inspection and
copying of all public records made or received by the Local Borrower in conjunction with this
Agreement and subject to disclosure under Chapter 119,F.S.,and Section 24(a),Article I,Florida
Constitution.
(3)IF THE LOCAL BORROWER HAS QUESTIONS REGARDING
THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE
LOCAL BORROWER'S DUTY TO PROVIDE PUBLIC RECORDS
RELATING TO THIS AGREEMENT, CONTACT THE DEPARTMENT'S
CUSTODIAN OF PUBLIC RECORDS AT
(850) 245-2118, by email at ombudsman@( ep.state.fl.us, or at the mailing
address below:
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Department of Environmental Protection
ATTN: Office of Ombudsman and Public Services
Public Records Request
3900 Commonwealth Blvd, MS 49
Tallahassee, FL 32399
3. Section 8.11 is added to the Agreement as follows:
8.11. TERMINATION FALSE CERTIFICATION, SCRUTINIZED COMPANIES,
BOYCOTTING.
The Local Borrower certifies that it and any of its affiliates are not scrutinized companies
as identified in Section 287.135, F.S. In addition, the Local Borrower agrees to observe the
requirements of Section 287.135, F.S., for applicable sub-agreements entered into for the
performance of work under this Agreement. Pursuant to Section 287.135, F.S., the Department
may immediately terminate this Agreement for cause if the Local Borrower, its affiliates, or its
subcontractors are found to have submitted a false certification; or if the Local Borrower, its
affiliates, or its subcontractors are placed on any applicable scrutinized companies list or engaged
in prohibited contracting activity during the term of the agreement. As provided in Subsection
287.135(8), F.S., if federal law ceases to authorize these contracting prohibitions then they shall
become inoperative.
4. Additional financing in the amount of$1,732,500, excluding Capitalized Interest, is
hereby awarded to the Local Borrower.
5. A Financing Rate of 1.43 percent per annum is established for the additional financing
amount awarded in this amendment. Individually,the interest rate is 0.715 percent per annum and
the Grant Allocation Assessment rate is 0.715 percent per annum. However, if this amendment is
not executed by the Local Borrower and returned to the Department before January 1, 2017, the
Financing Rate may be adjusted.
6. The estimated principal amount of the Loan is hereby revised to $19,113,332, which
consists of $18,395,032 authorized for disbursement to the Local Borrower and $718,300 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
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(c) Amendment 5 of$1,738,100, including$1,732,500 authorized for disbursement to the
Local Borrower and$5,600 of Capitalized Interest,at a Financing Rate of 1.43 percent per annum
(the interest rate is 0.715 percent per annum and the Grant Allocation Assessment rate is 0.715
percent per annum).
7. An additional Loan Service Fee in the amount of$34,650, for a total of$367,901, is
hereby estimated. The fee represents two percent of the Loan amount excluding Capitalized
Interest,that is,two percent of$18,395,032.
8. The Semiannual Loan Payment amount is hereby revised and shall be in the amount of
$598,521. 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.
The Semiannual Loan Payment amount is based on the total amount owed of$19,481,233,
which consists of the Loan principal plus the estimated Loan Service Fee.
9. 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.
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:
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PROJECT COSTS
CATEGORY COST
Allowance costs 1,232,272
Construction and Demolition 16,127,000
Contingencies 806,350
Technical Services After Bid Opening 1,117,600
Less Allowance Awarded in 590130 (888,190)
Subtotal (Disbursable Amount) 18,395,032
Capitalized Interest 718,300
TOTAL (Loan Principal Amount) 19,113,332
10.All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
. 7
This Amendment 5 to Loan Agreement WW590131 may 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
hi Executive Officer / Dat
e
i
j
Re fwed and approve 1'by the Corp" ate Secretary
_
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CITY OF NFORD
a
a r
i
Attest: Approved as to form and legal sufficiency:
Cit Clerk Cit Attorney
_ Y. Y Y
SEAL
APPROVED AND ACCEPTED BY THE STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTI0
Secretary or Designee
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