1807 FDEP SW 590140 �-11s77—
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TRANSMITTAL MEMORANDUM
To: City Clerk
FROM: Cynthia Lindsay, Finance Director
ATE: April 17, 2017
:
: SW590140
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
® Amendment 2; State Revolving Fund Loan Agreement
Once completed, please:
❑ Return original
❑ Return copy
El
Special Instructions:
Please advise if you have any questions regarding the above.
Thank you!
{`as t)BPart�a0 Florida Department of ick S otr
� Environmental Protection
Carlos Lopez-Cantera
Marjory Stoneman Douglas Building Lt. Governor
3900 Commonwealth Boulevard
r
o Tallahassee, Florida 32399-3000 Ryan E. Matthews
hf''ehtal pec Interim Secretary
CERTIFIED MAIL-RETURN RECEIPT REQUESTED
March 31, 2017
a
.`e Fig 1 2017 r
Mr.Norton Bonaparte
City Manager
City of Sanford -_........... __ _.
Post Office Box 1788
Sanford, Florida 32772
Re: SW590140—Sanford
Stormwater Management Facilities
Dear Mr. Bonaparte:
Enclosed is one executed original of Amendment 2 to the City's State Revolving Fund loan
agreement. The amendment is now in effect, and no further amendments are anticipated.
We congratulate you and your staff on the completion of your project and are pleased that we
could work with you.
Sincerely,
L�
Angela Knecht, Program Administrator
State Revolving Fund Management
AK/tc
Enclosure
cc: Cynthia Lindsay—City of Sanford
www.dep.state.fl.us
STATE REVOLVING FUND
AMENDMENT 2 TO LOAN AGREEMENT SW590140
CITY OF SANFORD
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION(Department)and the CITY OF SANFORD, FLORIDA,
(Local Government) existing as a local government agency under the laws of the State of
Florida.
The Department and the Local Government entered into a State Revolving Fund Loan
Agreement,Number SW590140, as amended, authorizing a Loan amount of$2,538,190,
excluding Capitalized Interest; and
The Loan Amount, Semiannual Loan Payment amount,Loan Service Fee, and Project costs need
adjustment to reflect actual costs; and
Certain provisions of the Agreement need to be revised.
The parties hereto agree as follows:
1. The Loan amount is hereby reduced by$2,047,228, and the adjusted total disbursed
amount for this loan is $490,962.
2. The Loan Service Fee is reduced by$40,945, and the adjusted total service fee for
this Loan is$9,819. The fee represents two percent of the Loan amount excluding Capitalized
Interest; that is,two percent of$490,962. Interest shall accrue on the Loan Service Fee at the
Financing Rate,or rates,set for the Loan until the fee is paid.
3. The total amount to repay by the Local Government is $509,301.82,which consists of
$490,962.00 disbursed to the Local Government,$8,520.82 of accrued Capitalized Interest and
$9,819.00, of service fee charges.
4. The total amount remaining to repay on the Loan is $425,540.80,which amount
accounts for the Department's receipt of one Semiannual Loan Payment.
5. The Semiannual Loan Payment amount,adjusted to account for repayments received
to date, is hereby revised and shall be in the amount of$14,009.63. Such payments shall be
received by the Department on August 15, 2017 and semiannually thereafter on February 15 and
August 15 of each year until all amounts due hereunder have been fully paid.
6. Subsection 2.03(1) is hereby deleted and replaced as follows:
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
1
This Amendment 2 to Loan Agreement SW590140 may be executed in two 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 Secretary or Designee 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 Department.
for
CITY OF SAN ORD
' F
hest: Approved as to form and legal sufficiency:
.. .
�4AL
City Clerk City Atto
40WA/i6' Al, 0/7-00/-
SEAL 4Z4
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
Secretary or Designee Date
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