21-1555 Clean Water State Revolving Loan AgreementRESOLUTION NO. 21-1555
A RESOLUTION OF THE CITY OF LONGWOOD, FLORIDA,
AUTHORIZING THE EXECUTION AND DELIVERY OF A CLEAN WATER
STATE REVOLVING FUND AMENDMENT 1 TO LOAN AGREEMENT
WITH THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION TO REDUCE THE PRINCIPAL AMOUNT OF THE LOAN
AUTHORIZED BY ORDINANCE 18-2150 CONCERNING THE
FINANCING OF THE SOUTH LONGWOOD SEPTIC TANK ABATEMENT
PROGRAM TRANSMISSION MAIN PROJECT; PROVIDING FOR
SEVERABILITY AND AN EFFECTIVE DATE.
WHEREAS, the City of Longwood (the "City") is vested with home rule authority pursuant to
Article VII, Section 2 of the Constitution of the State of Florida and Chapter 166, Florida Statutes,
to enact ordinances;
WHEREAS, on December 17, 2018, the City Commission adopted Ordinance 18-2150
authorizing the issuance of debt in the principal amount of $3,410,044.00 and interests and the
executing of the Loan Agreement to procure and implement the necessary labor, materials and
equipment for the design, permitting, construction, installation and completion of the Project
described in Ordinance 18-2150 and to finance the Project through a loan with State of Florida
Department of Environmental Protection (the "Department"); and --_
WHEREAS, the City of Longwood has executed the Loan Agreement FWW590520) ("Loan
Agreement") with the Department concerning the Project as authorized bar Ordinance- 18-2150;"
and =
WHEREAS, it has been determined that the Project can be completed for -less than
originally anticipated, thus the City of Longwood desires to authorize the execution and deli-very-of
Amendment 1 to the Loan Agreement to reduce the loan amount by $1,518,453, reduce the
semiannual loan payment amount from $99,734 to $54,961.50, and to reduce the -loan -service fee.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
LONGWOOD, FLORIDA, AS FOLLOWS:
SECTION 1. RECITALS. The foregoing findings are incorporated herein by reference and
made a part hereof.
SECTION 2. AUTHORIZATION OF AMENDMENT TO LOAN AGREEMENT. The City
Commission hereby approves the Amendment 1 of the Loan Agreement to reduce the loan
amount and other matters as set forth therein and does hereby authorize the execution and
Resolution No. 21-1555
Page 1 of 2
delivery on behalf of the City by the Mayor under the seal of the City, attested by the City Clerk, of
the Amendment 1 with the Department. The Amendment 1 shall be in substantially the form
thereof attached hereto and marked Exhibit "A" and is hereby approved, with such changes
therein as shall be approved by any of the authorized officers executing the same, with such
execution to constitute conclusive evidence of such officer's approval and the City's approval of
any changes therein from the form of the Second Amendment attached hereto.
SECTION 3. SEVERABILITY OF INVALID PROVISIONS. If any one or more of the covenants,
amendments or provisions contained herein shall be held contrary to any express provisions of law
or contrary to the policy of express law, though not expressly prohibited, or against public policy,
or shall for any reason whatsoever be held invalid, then such covenants, amendments or
provisions shall be null and void and shall be deemed severable from the remaining covenants,
amendments or provisions hereof and shall in no way affect the validity of any of the other
provisions of this Resolution.
SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon its
adoption.
CITY COMMISSION
CITY OF LONGWOOD, FLORIDA
[SEAL] By:
Richard Drummond, Mayor
ATTEST:.
Michelle Lon C, CRM, City Clerk
Approved as to form and legality for use and reliance by the City of Longwood, Florida only:
a✓"
Daniel W. Lang4ey, Ci1K Attorney
Resolution No. 21-1555
Page 2 of 2
Exhibit "A"
STATE REVOLVING FUND
AMENDMENT 1 TO LOAN AGREEMENT WW590520
CITY OF LONGWOOD
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and the CITY OF LONGWOOD,
FLORIDA, (Local Government) existing as a local governmental entity under the laws of the
State of Florida. Collectively, the Department and the Local Government shall be referred to as
"Parties" or individually as "Party".
The Department and the Local Government entered into a State Revolving Fund Loan
Agreement, Number WW590520, authorizing a Loan amount of $3,410,044, 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 total amount awarded is reduced by $1,518,453. The revised total amount
awarded is $1,891,591.
2. The Loan Service Fee is reduced by $30,369, and the adjusted total service fee,
rounded to the nearest dollar, for this Loan is $37,832. The fee represents two percent of the
Loan amount excluding Capitalized Interest; that is, two percent of $1,891,591.
3. The total amount of the Loan is $1,940,500.63, which consists of $1,891,591.00
disbursed to the Local Government, $11,077.63 of accrued Capitalized Interest and $37,832.00
of service fee charges, all at a Financing Rate of 1.26 percent per annum (the interest rate is 0.63
percent per annum, and the Grant Allocation Assessment rate is 0.63 percent per annum).
4. The Semiannual Loan Payment amount is hereby revised and shall be in the amount
of $54,961.90. Such payments shall be received by the Department on March 15, 2021 and
semiannually thereafter on September 15 and March 15 of each year until all amounts due
hereunder have been fully paid.
5. Subsection 2.03(1) of the Agreement is deleted and replaced as follows:
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State Resources Awarded to the Local Government 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
$1,891,591
140131
Agreement
Stormwater
Facility
Management TF
Construction
6. Project Costs are revised as follows:
The Local Government and the Department acknowledge that changes in Project costs
may occur as a result of an audit. Unless this Agreement is amended subsequent to an audit, the
following Project disbursements shall be final.
CATEGORY PROJECT COSTS ($)
Construction and Demolition (Total Disbursed) 1,891,591.00
Capitalized Interest 11,077.63
TOTAL (Loan Principal Amount) 1,902,668.63
7. All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
This Amendment 1 to Loan Agreement WW590520 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 amendment to the Loan
Agreement to be executed on its behalf by the Secretary or Designee and the Local Government
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 for below by the
Department.
SEAL
for
CITY OF LONGWOOD
Mayor
Attest: Approved as to form and legal sufficiency:
City Cleric
City Attorney
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
Secretary or Designee Date