90-R-31RESOLUTION NO. 90-R-31
A RESOLUTION AUTHORIZING APPLICATION FOR A STATE
REVOLVING FUND LOAN, PROVIDING ASSURANCES,
ESTABLISHING PLEDGED REVENUES, DESIGNATING AN
AUTHORIZED REPRESENTATIVE, AUTHORIZING THE LOAN
AGREEMENT, AND ESTABLISHING AUTHORITY TO
UNDERTAKE THE PROJECT.
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, and to
provide the assurances of compliance with loan program requirements, and
WHEREAS, the State Revolving Fund loan priority list designates Project No.
CS120 794020 as eligible for available funding, and
WHEREAS, the City of Edgewater intends to enter into a binding loan
agreement with the Department of Environmental Regulation for project funding.
NOW, THEREFORE, be it resolved that:
Section 1. The City of Edgewater is authorized to apply for a loan to finance
the project.
Section 2. The revenues pledged for the repayment of the loan are the
Pledged Revenues defined in the form of Revolving Loan Fund Agreement attached as
Exhibit A.
Section 3. The City Manager is designated as the authorized representative to
provide the assurances and commitments required by the loan application.
Section 4. The Mayor and City Manager are authorized to execute the State
Revolving Fund loan agreement in substantially the form attached as Exhibit A which
will become a binding obligation in accordance with its terms.
Section 5. The legal authority for borrowing moneys to construct this project
is Chapter 166, Part II, Florida Statutes, as amended.
Section 6. This Resolution shall take effect immediately upon its adoption by
the City Council of the City of Edgewater, Florida. at a Regular meeting of said Council
held on the 7th day of May, 1990. and approved as provided by law.
Adopted this 7th day of May, 1990
L[0`05/04/90-2894-11ESO-90R -1-
This Resolution was introduced and sponsored by Councilman , and was
read and passed by a vote of the City Council of the City of Edgewater, Florida, at a
Regular meeting of said Council held on the 7th day of May, 1990, and approved as
provided by law.
ROLL CALL VOTE AS FOLLOWS: ��5'
4i/G9 0�S
Mayor
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Councilman -Zone Four
Authenticated this 7th day of May, 1990.
uo.06/04/90-48e4-REso-eoR -2- Res. No. 90-R-31