Resolution No. 11-20 v RESOLUTION NO. 11 -20
A RESOLUTION OF THE CITY OF ATLANTIC BEACH, 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 ASSURANCE; PROVIDING FOR CONFLICTS,
SEVERABILITY, AND EFFECTIVE DATE.
WHEREAS, Florida Statutes provide for loans to local government agencies to finance the
construction of water pollution control 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. WW16070 as
eligible for available funding; and
WHEREAS, the City of Atlantic Beach, 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
Atlantic Beach, Florida that
SECTION I. The forgoing findings are incorporated herein by reference and made a part
hereof.
SECTION II. The City of Atlantic Beach, 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
utility system revenues after payment of debt service on the City's Utility System Revenue
Bonds, Series 2004, the Utility System Revenue Refunding Bonds, Series 2010B, the Utilities
System Revenue Bonds, Series 2010A -1, and the Utilities System Revenue Bonds, Series
2010A -2, and also after payment of the City's outstanding SRF loan, pursuant to Drinking Water
State Revolving Fund Construction Loan Agreement DW160710 from the State of Florida
Department of Environmental Protection.
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. The City Manager 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 City Manager is 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.
Resolution No. 11 -20 Page 2
SECTION VI. The legal authority for borrowing moneys to construct this project is Part I,
Charter, Article XV. Municipal Borrowing, Section 60. Authority to Borrow, of the Atlantic
Beach, Florida Code of Ordinances.
SECTION VII. Conflicts. All Resolutions or parts of Resolutions in conflict with any of the
provisions of this Resolution are hereby repealed.
SECTION VIII. Severability. 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. Effective Date. This Resolution shall become effective immediately upon its
passage and adoption.
ADOPTED at a public meeting by the City Commission of the City of Atlantic Beach, Florida
on the 25 day of April, 2011.
a C. 4m4. t)
Mike Borno
Mayor/Presiding Officer
Approved as to form and correctness:
11 1■4 6
• n Jensen, Esquire
City , torney
ATTEST:
(/./ V
Donna L. Bartle
City Clerk
Resolution No. 11 -20 Page 2