771-20 State Revolving Fund (SRF) Loan Program – WWTP AWT

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RESOLUTION 771-20 "A RESOLUTION OF CITY OF ZEPHYRHILLS, 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, the State Revolving Fund loan priority list designates Project No. WW510531 and as eligible for available funding; and WHEREAS; the City of Zephyrhills, 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 COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA,AS FOLLOWS: SECTION I. The foregoing findings are incorporated herein by reference and made a part hereof. SECTION II. The City of Zephyrhills, Florida, is authorized to apply for a loan to finance future design, construction, and facility planning associated with WW510531. SECTION III. The revenues pledged for the repayment of the loan are Gross Revenues derived yearly from the operation of the Water and Sewer Systems after payment of the Operation and Maintenance Expenses and the satisfaction of all yearly payment obligations on account of any senior or parity obligations issued pursuant to Section 7.02 of the Agreement. SECTION IV. The City Manager is hereby designated as the authorized representative to provide the assurances and commitments required by the loan application. SECTION V. Council President, Kenneth M. Burgess, Jr. 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. Council President, Kenneth M. Burgess, Jr. is authorized to represent the City in carrying out the City's responsibilities under the loan agreement. Council President Kenneth M. Burgess, Jr. is authorized to delegate responsibility to appropriate City staff to carry out technical, financial, and administrative activities associated with the loan agreement. SECTION VI. The legal authority for borrowing moneys to construct this Project is 403.1835 Florida Statutes and Chapter 62-503, Laws of Florida. 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.