2012-R-07 RESOLUTION NO. 2012-R-07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF EDGEWATER, VOLUSIA COUNTY, FLORIDA,
AUTHORIZING THE CITY MANAGER TO SUBMIT AN
APPLICATION TO THE FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION FOR FINANCIAL
ASSISTANCE UNDER THE STATE REVOLVING FUND
FOR POINT SOURCE WATER POLLUTION CONTROL
THE WASTE WATER TREATMENT PLANT RENEWAL
AND REPLACEMENT; IDENTIFYING REVENUES
PLEDGED FOR REPAYMENT OF LOAN FUNDS;
REPEALING RESOLUTIONS IN CONFLICT HEREWITH,
PROVIDING FOR SEVERABILITY, AN EFFECTIVE DATE
AND FOR ADOPTION.
WHEREAS, the City Council of the City of Edgewater, has made the following
determinations:
WHEREAS, City staff has recommended that the City of Edgewater apply for financial
assistance under the State Revolving Fund Point Source Water Pollution Control Program
administered by the Florida Department of Environmental Protection for construction of Waste
Water Treatment Plant Renewal and Replacement; and
WHEREAS, City Council concurs with staff's recommendations and desires to authorize
the submission of an application for financial assistance for the Waste Water Treatment Plant
Renewal and Replacement; and
WHEREAS, Florida Department of Environmental Protection requires a resolution
authorizing the local government to apply for assistance as part of the loan application; and
NOW, THEREFORE, BE IT RESOLVED by the People of the City of
Edgewater, Florida as follows:
PART A. STIPULATIONS.
Section 1. The City Manager of the City of Edgewater, Florida, is hereby authorized
to submit an application to the Florida Department of Environmental Protection for financial
assistance under the State Revolving Fund Point Source Water Pollution Control Program for the
Waste Water Treatment Plant Renewal and Replacement.
#2012 -R -07 1
Section 2. The State Revolving Fund (SRF) loans are secured by a junior lien on and
pledge of the net revenues of the water and sewer system.
Section 3. The City Manager is authorized to provide assurances, execute the loan
agreement, and represent the City of Edgewater in carrying out responsibilities under the loan
agreement.
PART B. SEVERABILITY AND APPLICABILITY.
If any section, subsection, sentence, clause, phrase, or portion of this Resolution, or
application hereof, is for any reason held invalid or unconstitutional by any Court, such portion or
application shall be deemed a separate, distinct, and independent provision, and such holding shall
not affect the validity of the remaining portions or applications hereof.
PART C. CONFLICTING PROVISIONS.
All resolutions, or parts thereof that are in conflict are hereby repealed.
PART D. EFFECTIVE DATE.
This resolution shall become effective immediately upon its adoption.
PART E. ADOPTION.
During the May 14, 2012 Council meeting, motion to approve was made b
g Y g� pp y ecti nrlJrnan
1/-44inecLi with Second by O n o ; o Inloyt Ir vote on this resolution is as follows:
AYE NAY
Mayor Mike Thomas 4c i.,1 Scci
Councilman Justin A. Kennedy X
Councilwoman Gigi Bennington
Councilman Mike Ignasiak X
Councilman Gene Emter X
#2012 -R -07 2
PASSED AND Duo ADOPTED this 14th day of May, 210
ATTEST:
Bonnie Wenzel
For the use and reliance only by the City of
Edgewater, Florida. Approved as to form
and legality by:
Aaron R. Wolfe, Esquire
City Attorney
Doran, Sims, Wolfe, & Kundid
CITY COUNCIL OF THE
CITY OF EDGEWATER, FLORIDA
By:
c
Afi lem9a at enn.r on
Vitt -Mayor CJ
Robin L. Matusick
Paralegal
Approved by the City Council of the City of
Edgewater at a meeting held on this 14th
day of May, 2012 under Agenda Item No.
8 k
R2012-R-07
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
STATE REVOLVING LOAN PROGRAM
for
Point Source Water Pollution Control
LOAN APPLICATION
0O1ECt1ON
.
Florida Department of Environmental Protection
Bureau of Water Facilities Funding
Twin Towers Office Building
2600 Blair Stone Road, MS 3505
Tallahassee, FL 32399 -2400
Form 62- 503.900(2) Effective Date 7 -29 -04
TABLE OF CONTENTS
Page
Number
LOAN APPLICATION
(1) SUBMITTAL 1
(2) COMPLETING THE APPLICATION 1
(3) ASSISTANCE 1
PART I - ADMINISTRATIVE INFORMATION
(1) PROJECT SPONSOR 1
(2) AUTHORIZED REPRESENTATIVE 1
(3) PRIMARY CONTACT 1
(4) ADDITIONAL CONTACTS 1
(5) PROJECT NUMBER 1
(6) CAPITALIZATION GRANT PROJECT REQUIREMENTS 2
(7) FINANCIAL HARDSHIP 2
(8) DIRECT AND LEVERAGED LOANS 2
PART II - PROJECT INFORMATION
A. PRECONSTRUCTION PROJECT
(1) ACTIVITIES 2
(2) SCHEDULE 2
(3) COST 3
B. CONSTRUCTION PROJECT
(1) ACTIVITIES 3
(2) SCHEDULE 3
(3) COST 3
PART III - FINANCIAL INFORMATION
(1) PRINCIPAL 4
(2) TERMS AND REPAYMENT 4
(3) ANNUAL FUNDING LIMIT 4
(4) LOAN REPAYMENT RESERVE 4
(5) INFORMATION ON LIENS 4
(6) ACTUAL AND PROJECTED REVENUES 5
(7) AVAILABILITY OF PLEDGED REVENUES 5
(8) LOAN SERVICE FEE 5
PART IV - AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION 5
(2) ASSURANCES 5
PART V - SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS 8
SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE 9
SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE 10
LIST OF ATTACHMENTS 11
ew69 loan app 2- 12.doc
•
LOAN APPLICATION
(1) SUBMITTAL. Submit the application and attachments to the Department of Environmental Protection,
MS 3505, Bureau of Water Facilities Funding, 2600 Blair Stone Road, Tallahassee, Florida 32399 -2400.
(2) COMPLETING THE APPLICATION.
(a) This application consists of five parts: (I) ADMINISTRATIVE INFORMATION; (II) PROJECT
INFORMATION; (III) FINANCIAL INFORMATION; (IV) AUTHORIZATION AND ASSURANCES; and
(V) SUPPLEMENTARY INFORMATION.
(b) All information provided on this application must be printed. Monetary amounts may be rounded.
(c) Forms and attachments to be submitted are denoted with italic print.
(3) ASSISTANCE. Completing this application may require information that can be obtained from Bureau of Water
Facilities Funding staff. Please call (850) 245 -8358 or SUNCOM 205 -8358 for assistance in completing this application.
PART I - ADMINISTRATIVE INFORMATION
(1) PROJECT SPONSOR City of Edgewater
Federal Employer Identification Number 59 6000314
(2) AUTHORIZED REPRESENTATIVE (person authorized to sign or attest loan documents).
Name Tracey Barlow Title City Manager
Telephone (386) 424 -2400, FAX (386) 424 -2421 Email ttbarlow @CITYOFEDGEWATER.ORG
ext. 1201
Mailing Address 104 North Riverside Drive, Edgewater, FL 32132
(3) PRIMARY CONTACT (person to answer questions regarding this application).
Name Brad T. Blais, P.E. Title (386) 761 -6810
Telephone (386) 761 -6810 FAX (386) 761 -3977 Email bblais @qlha.com
Employer Quentin L. Hampton Associates, Inc.
Mailing Address Post Office Drawer 290247, Port Orange, FL 32129
(4) ADDITIONAL CONTACTS. If more than one additional person is to receive copies of Department
correspondence, attach the information (Attachment # ).
Name Brenda Dewees Title Environmental Services Director
Telephone (386) 424 -2476 FAX (386) 424 -2480 Email bdewees@acityofedgewater.org
Employer City of Edgewater
Mailing Address 104 North Riverside Drive, Edgewater, FL 32132
(5) PROJECT NUMBER (listed on the Department's priority list). WW64052
Form 62- 503.900(2) Page 1 of 11 Effective Date 7 -29 -04
(6) CAPITALIZATION GRANT PROJECT REQUIREMENTS. An Applicant may have to comply with certain
Federal requirements for loans from funds that, in aggregate, are equivalent to the amount of the federal grant
awarded to the Department to partially capitalize the State Revolving Fund. Please check with the Department
to determine if the project is subject to such requirements.
Is this project subject to special federal requirements? ❑ Yes ® No
If this project is subject to special federal requirements complete an EPA Preaward Compliance Review
Report and attach in Part V, List of Attachments. (Attachment # ).
(7) FINANCIAL HARDSHIP. To qualify for a financial hardship loan the affordability index of a small
community to be served by the project shall be less than 100. A small community is a municipality or
unincorporated community with a total service area population of 20,000 or less as of the most recent
decennial census. Please check with the Department to determine if the project qualifies for a financial
hardship loan.
Does the loan qualify for financial hardship consideration? ❑ Yes ® No
(8) DIRECT AND LEVERAGED LOANS. A local government project sponsor that receives a loan from
proceeds of bonds issued by the Florida Water Pollution Control Financing Corporation will be subject to
certain limitations resulting from the tax exempt status of such bonds. Please check with the Department to
determine if the loan is subject to such limitations.
Is this loan subject to the special leveraged loan limitations? n Yes ® No
PART II — PROJECT INFORMATION
If you are applying for a loan to plan and design a project that will involve construction, complete only Subpart A
below. If you are applying for a loan to construct a project that is already planned and designed, complete only
Subpart B below.
A. PRECONSTRUCTION PROJECT
Information should be provided for each separate facility to be planned and designed as appropriate. For
design/build projects or those where multiple facilities, segments, or phases are involved, please attach information
for activities, schedule, and cost for each. (Attachment # )
(1) ACTIVITIES. Attach a brief description of the scope of planning and design activities to be financed by this
loan. Include a list of any specialized studies to be performed. (Attachment # ) Are these activities the
same as those scheduled on Request for Inclusion Form? ❑ Yes ❑ No. If "No ", please explain.
(Attachment # )
(2) SCHEDULE.
(a) Provide proposed completion dates for the items. (Please call Department staff to discuss time frames needed
to complete required tasks.)
Planning documentation
Engineering work
Certification of site availability
Permit
(b) Do you anticipate that an interlocal agreement with another party will be necessary to n Yes ❑ No
implement the project? If "Yes ", please explain. (Attachment # )
(c) Is this a design/build project? ❑ Yes ❑ No
Form 62- 503.900(2) Page 2 of 11 Effective Date 7 -29 -04
(3) COST. Is the cost information submitted for the preconstruction loan priority list ❑ Yes ❑ No
current? If "No ", please explain and submit revised cost information using the
appropriate page of the Request for Inclusion Form. (Attachment # ) Note that
the disbursable amount will be limited to the priority list amount.
PRECONSTRUCTION LOAN APPLICANTS PROCEED TO PART III.
B. CONSTRUCTION PROJECT
(1) ACTIVITIES.
(a) Attach a brief description of construction activities to be financed by this loan. Include a list of the
construction contracts (by title) corresponding to the plans and specifications accepted by the Department
(Attachment # 1 ).
Are these contracts the same as those scheduled on the Request for Inclusion Form? ® Yes ❑ No
If "No ", please explain. (Attachment # )
(b) Have any of the contracts been bid? ❑ Yes ® No
If "Yes ", indicate which contracts have been bid. (Attachment # )
(c) Was the planning and design for this project financed with a preconstruction loan? ❑ Yes ® No
If "Yes ", give the preconstruction loan number.
(d) Does this project involve an interlocal agreement with other local governments or other ❑ Yes ® No
entities?
If "Yes ", attach a copy of the Department letter accepting the interlocal agreement. (Attachment # )
Is the interlocal agreement, as accepted by the Department, fully executed and ❑ Yes n No
enforceable?
If "No ", please explain (Attachment # ).
(2) SCHEDULE. (month and year)
(a) What is the estimated date for the start of construction? 5/12
(b) What is the estimated date for construction completion? 12/13
(c) What is the date for start up of the facilities? 12/13
(3) COST. Is the cost information submitted for the priority list current? ® Yes n No
If "No", please explain and submit revised cost information using the appropriate page of the Request for
Inclusion Form. (Attachment # ) Note that the disbursable amount will be limited to the priority list
amount.
Form 62- 503.900(2) Page 3 of 11 Effective Date 7 -29 -04
PART III - FINANCIAL INFORMATION
Please check with the Department to establish estimates of the capitalized interest rate, project useful life for
financial hardship loans, financing rate, pledged revenue coverage, limitations on annual loan amounts for large
projects, applicability and amount of repayment reserves, amount of the loan service fee and any other information
needed to complete this form.
(1) PRINCIPAL. The requested amount of the loan, excluding capitalized interest is $5,641,097
The estimate of the capitalized interest is $105,000 based on a financing rate of 2.28%
Note that the disbursable amount will be limited to the priority list amount and must be consistent with the
project information provided under PART II of this application. Also note that the capitalized interest is an
inexact estimate, and it is subject to adjustment by the Department to reflect actual disbursement timing. The
principal amount of the loan does not include the loan service fee.
(2) TERMS AND REPAYMENT.
(a) Loans to local government project sponsors are amortized over the lesser of useful life of the project or 20
years unless the project is to serve a small community qualifying as having a financial hardship. Loans to
financial hardship communities may be amortized over the lesser of useful life of the project or 30 years.
Loans to non - governmental project sponsors are amortized over the lesser of the useful of the project or 10
years. Finance charges and principal are paid semiannually.
What is the useful life of the project? 25 (years)
Over how many years would you like to amortize the loan? 20 (years)
(b) List all revenues that are to be pledged for repayment of this loan. Water, sewer, and impact fee revenues.
(c) Pledged revenue receipts or collections by the project sponsor must exceed the amount of the repayments due
to the Department unless there are other collateral provisions. The excess revenue, or coverage, generally is
15% of each repayment.
What coverage is proposed for the loan? 15% (coverage percentage)
(d) Is any other financial assistance being applied to this project? ❑ Yes ® No
If "Yes ", please list. (Attachment # )
(3) ANNUAL FUNDING LIMIT. Large project funding (generally, loans in excess of $10 million) may be
provided in increments pursuant to the initial loan agreement and subsequent amendments. Each increment
shall have a separate financing rate as established in the agreement or amendment providing that increment.
(4) LOAN REPAYMENT RESERVE. Subject to the Department's approval, a local government may establish a
restricted or assigned reserve account, using its own funds, in an amount not less than the sum of two
semiannual loan repayments in order to reduce the pledged revenue coverage requirement to as low as 1.0
times the annual debt service.
Is a reserve expected to be established using local funds? ❑ Yes ® No
If "Yes," describe the locally funded reserve. (Attachment # )
(5) INFORMATION ON LIENS.
(a) Describe, if applicable, all debt obligations having a prior or parity lien on the revenues pledged to repay this
loan. (Attachment # 2) For example: City Name, Florida, Water and Sewer System Revenue Bonds, Series
1996, issued in the amount of $10,000,000, pursuant to Ordinance No. 93 -104, as amended and supplemented
by Ordinance No. 96 -156.
Form 62- 503.900(2) Page 4 of 11 Effective Date 7 -29 -04
•
(b) Using the Part V, Schedule of Prior and Parity Liens, provide debt service information, if applicable, on each
prior and parity obligation.
(c) For the listed obligations, provide a copy of the ordinance(s), resolution(s), official statement(s), or pages
thereof, setting forth the definitions, use of proceeds, debt service schedule, pledged revenues, rate covenants,
provisions for issuing additional debt, provisions for bond insurance, and debt rating. (Attachment # ).
(d) Describe any other notes and loans payable from the revenues pledged to repay this loan. (Attachment # ).
(6) ACTUAL AND PROJECTED REVENUES.
(a) Complete the Part V, Schedule of Actual Revenues and Debt Coverage for the past two fiscal years.
(b) Complete the Part V, Schedule of Projected Revenues and Debt Coverage, demonstrating the availability of
pledged revenues for loan repayment.
(7) AVAILABILITY OF PLEDGED REVENUES. All sources must be supported by a written legal opinion.
(Attachment # 3) The opinion must address the following:
(a) Availability of the revenues to repay the loan.
(b) Right to increase rates at which revenues shall be collected to repay the loan.
(c) Subordination of the pledge if pledged revenues are subject to a prior or parity lien.
(8) LOAN SERVICE FEE. A loan service fee is assessed on each loan. The fee is not part of the loan. The fee
along with interest thereon will be deducted from the first available repayments after the final amendment to
the loan agreement.
PART IV — AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION. Provide an authorizing resolution of the Applicant's governing body or other evidence
of authorization (Attachment # 4 ) for the following:
(a) Pledging revenues to repay the loan.
(b) Designation of the Authorized Representative(s) to file this application, provide assurances, execute the loan
agreement, and represent the Applicant in carrying out responsibilities (including that of requesting loan
disbursements) under the loan agreement.
(2) ASSURANCES. The Applicant agrees to comply with the laws, rules, regulations, policies and conditions
relating to the loan for this project. Applicants should seek further information from the Bureau of Water
Facilities Funding staff as to the applicability of the requirements if the necessity for the assurances are of
concern. Specifically, the Applicant certifies that it has complied, as appropriate, and will comply with the
following requirements, as appropriate, in undertaking the Project:
(a) Assurances for capitalization grant projects.
1. Complete all facilities for which funding has been provided.
2. The Archaeological and Historic Preservation Act of 1974, PL 93 -291, and the National Historic Preservation
Act of 1966, PL 89 -665, as amended, regarding identification and protection of historic properties.
3. The Clean Air Act, 42 U.S.C. 7506(c), which requires conformance with State Air Quality Implementation
Plans.
4. The Coastal Zone Management Act of 1972, PL 92 -583, as amended, which requires assurance of project
consistency with the approved State management program developed under this Act.
5. The Endangered Species Act, 16 U.S.C. 1531, et seq., which requires that projects avoid disrupting threatened
or endangered species and their habitats.
Form 62- 503.900(2) Page 5 of 11 Effective Date 7 -29 -04
6. Executive Order 11593, Protection and Enhancement of the Cultural Environment, regarding preservation,
restoration and maintenance of the historic and cultural environment.
7. Executive Order 11988, Floodplain Management, related to avoiding, to the extent possible, adverse impacts
associated with floodplain occupancy, modification and development whenever there is a practicable
alternative.
8. Executive Order 11990, Protection of Wetlands, related to avoiding, to the extent possible, adverse impacts
associated with the destruction or modification of wetlands and avoiding support of construction in wetlands.
9. The Fish and Wildlife Coordination Act, PL 85 -624, as amended, which requires that actions to control
natural streams or other water bodies be undertaken to protect fish and wildlife resources and their habitats.
10. The Safe Drinking Water Act, Section 1424(e), PL 93 -523, as amended, regarding protection of underground
sources of drinking water.
11. The Wild and Scenic Rivers Act, PL 90 -542, as amended, related to protecting components or potential
components of the national wild and scenic rivers system.
12. The federal statutes relating to nondiscrimination, including: The Civil rights Act of 1964, PL 88 -352, which
prohibits discrimination on the basis of race, color or national origin; the Age Discrimination Act, PL 94 -135,
which prohibits discrimination on the basis of age; Section 13 of the Federal Water Pollution Control Act, PL
92 -500, which prohibits sex discrimination; the Rehabilitation Act of 1973, PL 93 -112, as amended, which
prohibits discrimination on the basis of handicaps.
13. Executive Order 11246, Equal Employment Opportunity, which provides for equal opportunity for all
qualified persons.
14. Executive Orders 11625 and 12138, Women's and Minority Business Enterprise, which require that small,
minority, and women's business and labor surplus areas are used when possible as sources of supplies,
equipment, construction and services.
15. The Coastal Barrier Resources Act, 16 U.S.C. 3501 et seq., regarding protection and conservation of the
coastal barrier resources.
16. The Farmland Protection Policy Act, 7 U.S.C. 4201 et seq., regarding protection of agricultural lands from
irreversible loss.
17. The Uniform Relocation and Real Property Acquisition Policies Act of 1970, PL 91 -646, which provides for
fair and equitable treatment of persons displaced or whose property is acquired as a result of federal or
federally assisted programs.
18. The Demonstration Cities and Metropolitan Development Act of 1966, PL 89 -754, as amended, which
requires that projects be carried out in accordance with area wide planning activities.
19. Section 306 of the Clean Air Act, Section 508 of the Clean Water Act and Executive Order 11738, which
prohibit manufacturers, firms, or other enterprises on the EPA's list of Violating Facilities from participating
in the Project.
20. Executive Order 12549, Debarment and Suspension, which prohibits any award to a party which is debarred
or suspended or is otherwise excluded from, or ineligible for, participation in federal assistance programs.
21. Minority and Women's Business Enterprise participation in project work using numerical goals, established
by the U.S. Environmental Protection Agency, and to be set forth in the specifications for construction and
materials contracts.
(b) Assurances for other projects.
1. Chapter 161, Part I, F.S., "Beach and Shore Preservation Act" and Part III, "Coastal Zone Protection Act of
1985" which regulate coastal zone construction and all activities likely to affect the condition of the beaches
or shore.
Form 62- 503.900(2) Page 6 of 11 Effective Date 7 -29 -04
2. Chapter 163, Part II, F.S., the "Local Government Comprehensive Planning and Land Development
Regulation Act" which requires units of local government to establish and implement comprehensive planning
programs to control future development.
3. Chapter 186, F.S., State and Regional Planning, which requires conformance of projects with Regional Plans
and the State Comprehensive Plan.
4. Chapter 253, F.S., "Emergency Archaeological Property Acquisition Act of 1988" which requires protection of
archaeological properties of major statewide significance discovered during construction activities.
5. Chapter 258, Part III, F.S., which requires protection of components or potential components of the national
wild and scenic rivers system.
6. Chapter 267, F.S., the "Florida Historical Resources Act" which requires identification, protection, and
preservation of historic properties, archaeological and anthropological sites.
7. Chapter 287, Part I, F.S., which prohibits parties convicted of public entity crimes or discrimination from
participating in State - assisted projects and which requires consideration of the utilization of Minority Business
Enterprises in State - assisted projects.
8. Chapter 372, F.S., the Florida Endangered and Threatened Species Act which prohibits the killing or
wounding of an endangered, threatened, or special concern species or intentionally destroying their eggs or
nest.
9. Chapter 373, Part N, F.S., Florida Water Resources Act of 1972, which requires that activities on surface
waters or wetlands avoid adversely affecting: public health, safety, welfare, or property; conservation of fish
and wildlife, including endangered or threatened species or their habitats; navigation or the flow of water; the
fishing or recreational values or marine productivity; and significant historical and archaeological resources.
10. Chapter 380, Part I, F.S., Florida Environmental Land and Water Management Act of 1972 as it pertains to
regulation of developments and implementation of land and water management policies.
11. Chapter 381, F.S., Public Health, as it pertains to regulation of onsite wastewater systems.
12. Chapter 403, Part I, F.S., Florida Air and Water Pollution Control which requires protection of all waters of
the state.
13. Chapter 582, F.S., Soil and Water Conservation Act which requires conformance with Water Management
District's regulations governing the use of land and water resources.
14. Governor's Executive Order 95 -359, which requires State Clearinghouse review of project planning
documentation and intergovernmental coordination.
I, the undersigned Authorized Representative of the Applicant, hereby certify that all information contained herein
and in the attached is true, correct, and complete to the best of my knowledge and belief. I further certify that I have
been duly authorized to file the application and to provide these assurances.
Signed this Day of , 20
Authorized Representative Tracey T. Barlow
(signature) (name typed or printed)
Attachments
Form 62- 503.900(2) Page 7 of 11 Effective Date 7 -29 -04
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS
(EXCLUDING SRF LOANS)
List annual debt service beginning two years before the anticipated loan agreement date and continuing at least
three additional fiscal years. Use additional pages as necessary.
#1 #2 #3
Identify Each
Obligation Water and Wastewater Water and Sewer SRF# CS 120794020
Refunding Note, Series Revenue Note, Series
2009 2002
Coverage 115 % 100 % 115 %
Insured? Yes X No Yes X No Yes X No
Total Debt
Fiscal Annual Debt Service (Principal Plus Interest) Total Service Incl.
Year #1 #2 #3 Debt Service Coverage
2010 $1,044,325 $ 556,756 $ 86,683 $ $
2011 $ 735,361 $ 530,426 $ 86,683 $ $
2012 $ 822,960 $ 524,951 $ 86,683 $ $
2013 $ 818,580 $ 519,475 $ 516,458 $ $
2014 $ 823,690 $ 0 $ 516,458 $ $
2015 $ 827,950 $ 0 $ 516,458 $ $
2016 $ 826,360 $ 0 $ 516,458 $ $
2017 $4,534,090* $ 0 $ 516,458 $ $
2018 $ 0 $ 0 $ 0 $ $
2019 $ 0 $ 0 $ 0 $ $
2020 $ 0 $ 0 $ 0 $ $
2021 $ 0 $ 0 $ 0 $ $
2022 $ 0 $ 0 $ 0 $ $
2023 $ 0 $ 0 $ 0 $ $
2024 $ 0 $ 0 $ 0 $ $
2025 $ 0 $ 0 $ 0 $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
Form 62- 503.900(2) Page 8 of 11 Effective Date 7 -29 -04
PART V - SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS
(EXCLUDING SRF LOANS)
List annual debt service beginning two years before the anticipated loan agreement date and continuing at least
three additional fiscal years. Use additional pages as necessary.
#4 #5 #6
Identify Each
Obligation SRF# CS120794030 SRF# DW64050 SRF# DW64051
Coverage 115 % 115 % 115 %
Insured? Yes X No Yes X No Yes X No
Total Debt
Fiscal Annual Debt Service (Principal Plus Interest) Total Service Incl.
Year #4 #5 #6 Debt Service Coverage
2010 $ 212,521 $ 0 $ 0 $1,900,285 $2,101,815
2011 $ 212,521 $ 0 $ 0 $1,564,991 $1,720,176
2012 $ 212,521 $ 10,316 $ 18,038 $1,675,469 $1,848,047
2013 $ 212,521 $ 10,316 $ 18,038 $2,095,388 $2,331,775
2014 $1,294,980 $ 10,316 $ 18,038 $2,663,482 $3,063,004
2015 $1,294,980 $ 10,316 $ 18,038 $2,667,742 $3,067,903
2016 $1,294,980 $ 10,316 $ 18,038 $2,666,152 $3,066,075
2017 $1,294,980 $ 10,316 $ 18,038 $6,373,882 $7,329,964
2018 $1,294,980 $ 10,316 $ 18,038 $1,323,334 $1,521,834
2019 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
2020 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
2021 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
2022 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
2023 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
2024 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
2025 $ 0 $ 10,316 $ 18,038 $ 28,354 $ 32,607
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
$ $ $ $ $
Form 62- 503.900(2) Page 8A of 11 Effective Date 7 -29 -04
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE
(Provide information for the two fiscal years preceding the anticipated date of the SRF loan agreement.)
FY 2009 FY 2010
(a) Operating Revenues (Source)
Water and Sewer Sales 6,907,413 7,085,984
(b) Interest Income (3,401) 161,505
(c) Other Income or Revenue (Identify)
Miscellaneous 89,322 76,719
(d) Total Revenues 6,993,334 7,324,208
(e) Operating Expenses (excluding
interest on debt, depreciation,
and other non -cash items) 5,314,998 4,916,254
(t) Net Revenues [(f) = (d) — (e)] 1,678,336 2,407,954
(g) Debt Service (including any
required coverage) 3,422,810 2,101,815
(h) Attach audited annual financial report(s), or pages thereof, or other documentation necessary to
support the above information. Include any notes or comments from the audit reports regarding
compliance with covenants of debt obligations having a prior or parity lien on the revenues pledged
for repayment of the SRF Loan. (Attachment # 5)
(i) Attach worksheets reconciling this page with the appropriate financial statements (for example,
backing out depreciation and interest payments from operating expenses). (Attachment # )
(j) If the net revenues were not sufficient to satisfy the debt service and coverage requirement, please
explain what corrective action was taken. (Attachment # )
Form 62- 503.900(2) Page 9 of 11 Effective Date 7 -29 -04
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE
Begin with the fiscal year preceding first anticipated semiannual loan payment and continuing for at least three
additional years. Attach a separate page for previous State Revolving Fund loans. (Attachment # 6 )
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
(a) Operating Revenue 7,669,501 8,248,796 8,890,681 9,606,958 9,921,458
(b) Interest Income 42,856 65,501 78,378 88,828 80,573
(c) Other Income or Revenue
(identify)
Fees and Misc. charges ** 837,734 854,120 871,326 889,392 898,877
Impact Fees 115,444 192,406 288,609 384,812 577,218
(d) Total Revenues 8,665,535 9,360,823 10,128,994 10,969,990 11,478,126
(e) Operating Expenses (excluding
interest on debt, depreciation, and
other non -cash items) 5,713,570 5,953,907 6,206,430 6,471,899 6,748,520
(1) Net Revenues (g = e - f) 2,951,965 3,406,916 3,922,564 4,498,091 4,729,606
(g) Revenue (including coverage)
pledged to debt service, excluding
SRF loans 1,460,842 947,244 952,143 950,314 5,214,204*
(h) Revenue (including coverage)
pledged to outstanding SRF loans 870,933 2,115,761 2,115,761 2,115,761 2,115,761
(i) Revenue Available for this SRF
Loan [(i) = (f) — (g) — (h)] 620,190 343,911 854,660 1,432,016 (2,600,359)*
(j) Identify the source of the above information and explain methods used to develop the projections (Attachment # 7 ).
Include an explanation of any revenue and expense growth or other adjustments; for example, any rate increases, service
growth, inflation adjustments, expense adjustments reflecting the cost of operating additional facilities, or other
considerations.
(k) For construction loans, are the above projections consistent with the accepted financial ® Yes ❑ No
feasibility information?
If "No ", please explain. (Attachment # )
Escalation in user charge water and sewer revenue and operating expenses for FY 13 — FY 17 are based upon rate
study projections calculated by Burton and Associates (pages 46 and 47 on attached Schedule 8).
* The City plans on refinancing the bank note an additional five years in FY 17 or before.
* *The detail of what is included in Other Income or Revenues category is described on page 36 of Schedule 4 of
rate study (copy attached).
Form 62- 503.900(2) Page 10 of 11 Effective Date 7 -29 -04
PART V — SUPPLEMENTARY INFORMATION
LIST OF ATTACHMENTS
LIST OF ATTACHMENTS. This application requires the submittal of Attachments to provide supplemental
information. The application is not complete without the completed List of Attachments. Please list all attachments
that you are including with this application form.
Attachment Number
Project Description — Construction 1
Prior Debt Obligations 2
Attorney Opinion Letter 3
Authorizing Resolution 4
Audit Reports 5
Previous SRF Loans 6
Supporting Documentation for Revenue and Expense Projections 7
Form 62- 503.900(2) Page 11 of 11 Effective Date 7 -29 -04
ATTACHMENT #1:
PROJECT DESCRIPTION
The proposed Wastewater Treatment Facility Renewal and Replacement project involves upgrading
existing facilities and replacing/upgrading all deteriorated mechanical and electrical equipment. The
existing process systems and equipment were constructed in 1990. It is all 20+ years old and reached
the end of its `useful life'.
Significant advancements in equipment technology and control devices will allow the City to
improve the plant's reliability and treatment capabilities. New variable frequency drive (VFD)
technology and PLC devices will also increase electrical efficiency. The combination of improved
treatment capability and reduced energy consumption will serve to reduce effluent nutrient
concentrations, energy consumption and carbon emissions.
The project includes renewal and replacement of most major pumps and mechanical equipment
within the wastewater treatment plant. A new clarifier, generator, centrifuge, laboratory, and
electrical building will be constructed.
Start Construction: May 2012
Completion Date: December 2013
Construction Contract: WWTP Renewal and Replacement
ew69 loan app attachments.doc
ATTACHMENT #2:
PRIOR DEBT OBLIGATIONS
Debt obligations having a prior or parity lien include the following:
City of Edgewater, Florida
Water and Wastewater System Refunding Revenue Bond, Series 2009
$7,945,000
City of Edgewater, Florida
Water and Sewer Revenue Note, Series 2002
$5,140,000
State of Florida Revolving Fund Loan Project:
1) CS120794020
2) CS120794030
3) DW64050
4) DW64051
ew69 loan app attachments.doc
ATTACHMENT #3:
ATTORNEY OPINION LETTER
ew69 loan app attachments.doc
DRAFT LETTER FOR CITY ATTORNEY
March 9, 2012
Mr. Robert Holmden, P.E., Chief
Bureau of Water Facilities Funding
Florida Department of Environmental Protection
Twin Towers Office Building
2600 Blair Stone Road
Tallahassee, FL 32399 -2400
City of Edgewater
S.R.F. Project# DW64052
WWTP Renewal and Replacement
Dear Mr. Holmden:
I am the duly appointed City Attorney for the City of Edgewater, Florida and am advised that the City
proposes to borrow approximately $5,641,097 plus capitalized interest, pursuant to the State Revolving
Fund Water Facilities Funding loan application for construction of the City's WWTP Renewal and
Replacement project (the "Loan"). The Loan is proposed to be secured by a pledge of the net revenues
of the City's water and sewer system and impact fees ( "Net Revenues "). This is to advise you that the
Net Revenues are currently pledged to certain outstanding obligations indentified below. Additionally,
under the terms of these obligations, the City is required to set rates at a level sufficient to pay, among
other things, all obligations payable from the Net Water, Sewer, and Impact Fee Revenues.
The Pledged Revenues shall be expressly subject and subordinate to the following prior liens:
City of Edgewater Water and Wastewater System Refunding Revenue Bond, Series 2009
City of Edgewater Water and Sewer Revenue Note, Series 2002
Florida Department of Environmental Protection, SRF Loan# CS 120794020
Florida Department of Environmental Protection SRF Loan# CS120794030
Florida Department of Environmental Protection SRF Loan# DW64050
Florida Department of Environmental Protection SRF Loan#DW64051
Under Florida law and the provisions of the outstanding obligations, the City is authorized to pledge
the Net Revenues and has legal authority to increase rates to provide for the payment of the Loan.
ew69 loan app attachments.doc
If we can be of further assistance to you in connection with the Loan, please contact us at your
convenience.
Sincerely,
Carolyn S. Ansay, Esquire
City Attorney
CSA/km
cc: John McKinney, City of Edgewater
Brenda Dewees, City of Edgewater
ew69 loan app attachments.doc
ATTACHMENT #4:
AUTHORIZING RESOLUTION
ew69 loan app attachments.doc
ATTACHMENT #5:
AUDIT REPORTS
Available at www.cityofedgewater.org
ew69 loan app attachments
ATTACHMENT #6:
PREVIOUS SRF LOANS
State of Florida Revolving Fund Loan Project:
1) C S 120794020
2) CS 120794030
3) DW64050
4) DW64051
ew69 loan app attachments
ATTACHMENT #7:
SUPPORTING DOCUMENTATION
FOR REVENUE AND EXPENSE PROJECTIONS
Escalation in user charge water and sewer revenue and operating expenses for FY13 — FY17 are
based upon rate study projections calculated by Burton and Associates.
ew69 loan app attachments