HomeMy WebLinkAboutResolution 2022-31 State Revolving Fund Loan Program RESOLUTION NO. 2022-31
A RESOLUTION OF CITY OF WINTER SPRINGS, FLORIDA, RELATING TO THE
STATE REVOLVING FUND LOAN PROGRAM; MAKING FINDINGS;
AUTHORIZING THE LOAN APPLICATION; AUTHORIZING THE LOAN
AGREEMENT; ESTABLISHING PLEDGED REVENUES; DESIGNATING
AUTHORIZED REPRESENTATIVES; PROVIDING ASSURANCES; PROVIDING
FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE.
WHEREAS, Florida Statutes provide for loans to local government agencies to finance the
construction of wastewater treatment facilities; and
WHEREAS, Florida Administrative Code rules require authorization to apply for loans, to establish
pledged revenues, to designate an authorized representative; to provide assurances of
compliance with loan program requirements; and to enter into a loan agreement; and
WHEREAS, after careful consideration and study and being duly advised by technical experts and
City staff, the City Commission has determined that the City of Winter Springs is in need of
replacing its two existing sewer treatment plants that are reaching the end of life span; and
WHEREAS, the City has estimated that the cost of replacing the two existing sewer treatment
plants is approximately $69,584,000.00 and it is necessary to obtain funding to complete the
replacement project; and
WHEREAS, the State Revolving Fund loan priority list designates the design engineering for
Project No. WW59062 as eligible for available funding; and
WHEREAS, the City of Winter Springs, Florida, intends to enter into a loan agreement with the
Department of Environmental Protection under the State Revolving Fund for project financing;
and
WHEREAS, the City Commission of the City of Winter Springs declares that this Resolution is in
the best interests of the public health, safety, welfare, convenience, and morals of the citizens of
Winter Springs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER
SPRINGS, FLORIDA, AS FOLLOWS:
SECTION I. The foregoing findings are incorporated herein by reference and made a part hereof.
City of Winter Springs
Resolution No. 2022-31
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SECTION II. The City of Winter Springs, Florida, is authorized to apply for a loan to finance the
Project.
SECTION III. The revenues pledged for the repayment of the loan are net water and sewer system
revenues after payment of debt service on the following prior senior debt:
(1) Water and Sewer Refunding Revenue Bonds, Series 2000;
(2) Water and Sewer Revenue Refunding Note Payable, Series 2016;
(3) Water and Sewer Revenue Refunding Note Payable, Series 2020; and
(4) City of Winter Springs, Florida, SRF Loan DW590610.
SECTION IV. The City Manager is hereby designated as the authorized representative to provide
the assurances and commitments required by the loan application.
SECTIOIN V. The Mayor, or the Deputy Mayor in the absence of the Mayor, is hereby designated
as the authorized representative to execute the loan agreement which will become a binding
obligation in accordance with its terms when signed by both parties. The Mayor, or the Deputy
Mayor in the absence of the Mayor, and the City Manager are authorized to represent the City in
carrying out the City's responsibilities under the loan agreement. The City Manager is authorized
to delegate responsibility to appropriate City staff to carry out technical, financial, and
administrative activities associated with the loan agreement. The City Attorney is authorized to
represent the City in carrying out the City's legal related responsibilities under the loan agreement.
SECTION VI. The legal authority for borrowing moneys to construct this Project is the adoption
of this Resolution by the City Commission, by majority vote, in accordance with the powers vested
in the City Commission under the Constitution and laws of the State of Florida, including
particularly, Chapter 166, Florida Statutes, and other applicable provisions of law, including the
City Charter and Code of Ordinances.
SECTION VII. All resolutions or part of Resolutions in conflict with any of the provisions of this
Resolution are hereby repealed.
SECTION VIII. If any section or portion of a section of this Resolution proves to be invalid, unlawful,
or unconstitutional, it shall not be held to invalidate or impair the validity, force, or effect of any
other section or part of this Resolution.
SECTION IX. This Resolution shall become effective immediately upon its passage and adoption
by the City Commission of the City of Winter Springs, Florida.
[Signature Page Follows]
City of Winter Springs
Resolution No. 2022-31
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RESOLVED, by the City Commission of the City of Winter Springs, Florida, in a regular meeting
assembled on the 24t" day of October, 2022.
KEVIN McCANN, Mayor
ATTEST:
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RISTIAN GOWAN, City Clerk a► = '' ra`
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Approved as to legal form and sufficiency for f't,,'•;`+ :�� •,••
the City of Winter Springs only:
ANTHONY A. GARGANESE, City Attorney
City of Winter Springs
Resolution No. 2022-31
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