HomeMy WebLinkAboutResolution 2015-31 State Revolving Loan Fund ApplicationRESOLUTION NUMBER 201.5 -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 drinking water 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, the State Revolving Fund loan priority list designates Project No.
DW59061, an ion - exchange system project for Water Plant No. 1, 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.
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.
SECTION 11 - 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 SunTrust Bank loan; the two BB&T
Bank Loans; the SRF loan; and the two US Bank loans as identified in the Business Plan.
SECTION IV - Kevin Smith, City Manager, is hereby designated as the authorized
representative to provide the assurances and commitments required by the loan application.
SECTION V - Charles Lacey, 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. Kevin Smith, City Manager, is
authorized to represent the City in carrying out the City's responsibilities under the loan
agreement. Kevin Smith, City Manager, is authorized to delegate responsibility to appropriate
City staff to carry out technical, financial, and administrative activities associated with the loan
agreement.
SECTION VI - All resolutions or part of Resolutions in conflict with any of the
provisions of this Resolution are hereby repealed.
SECTION VII - 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 VIII - This Resolution shall become effective immediately upon its passage
and adoption.
City of Winter Springs, Florida
Resolution 2015 -31
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PASSED AND ADOPTED IN A REGULAR MEETING OF THE CITY OF
WINTER SPRINGS CITY COMMISSION THIS 14th DAY OF DECEMBER, 2015.
APPROVED:
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ATTEST:
ANDREA LORENZO- LUACES, City Clerk
APPROV S TO FORM AND CORRECTNESS:
ANTHONY A. GARGANESE, City Attorney
City of Winter Springs, Florida
Resolution 2015 -31
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