575RESOLUTION NO. S 75
A RESOLUTION FOR THE PURPOSE OF MAKING APPLICATION
TO THE DEPARTMENT OF POLLUTION CONTROL FOR A LOAN
FROM THE DEPARTMENT OF POLLUTION CONTROL UNDER
SECTION 403.1835, FLORIDA STATUTES, AND CHAPTER
17-15, FLORIDA ADMINISTRATURE CODE, TO PROVTDE
INTERIM FINANCTNG FOR CONSTRUCTING FOR WATER AND
SRWER EXPANSION PHOSECT, REPEALING ALL RESOLUTIONS
IN CONFLICT HEREWITH, AND PROVIDING AN EFFECTIVE
DATE THEREFORE.+''
WHEREAS, the Citv of Edgewater, a political subdivision of the
State of Florida (hereinafter local governmental agency, agency
or applicant), wishes to make application to the State of Florida
Department of Pollution Control (hereinafter Department) for a
loan from the Department under Section 403.1835, Florida Statutes,
and Chapter 17-15, Florida Administrative Code, to assist the
applicant in planning, designing, and the preparing of an
environmental assessment study for sewage treatment facilities;
or to provide interim financing for constructing, modifying,
upgrading, and acquiring lands for sewage treatment facilities
if the Department has approved a permanent financing plan for the
applicant through participation in the state pollution bond loan
Program pursuant to Article VII, Section 14, Florida Constitution,
or through the issuance of local bonds, evidences of indebtedness,
or other acceptable methods of repayment;
WHEREAS, This Resolution is adopted for the purpose of making
application to the Department for the purpose of obtaining such
a loan, now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EDGEWATER, FLORIDA:
SECTION 1. The applicant has the legal authority to execute a
loan agreement with the Department, as contemplated by this
Resolution.
SECTION 2. The applicant will comply with all regulations,
rules and guidelines of the Department and such other state
agencies, if any, that are concerned with the sewage treat-
ment revolving loan program of the state, and this applicant
will furnish all information required by the regulations and
rules of the Department.
SECTION 3. The applicant has and will have revenue or other
funds sufficient to repay the loan in the prescribed time
period, as required by Subsection 17-15.04(1) (c), Florida
Administrative Code.
SECTION 4. The applicant will apply and use any funds received
from the sewage treatment revolving loan for the purposes for
which they are furnished and will reader such accountings of
such funds as may be required by the Department.
SECTION 5• The purpose or purposes for which the funds obtained
from the sewage treatment revolving loan will be used are:
The construction of an expansion of the existing .42 MOD Secon-
dary treatment plant to 1.0 MOD of secondary treatment and nitri-
fication.
SECTION 6. The interest payments to be made by the applicant
under the loan agreement with the Department shall be at the
same rate as that paid on the last bonds sold pursuant to
Article VII, Section 14, Florida Constitution, or five per
cent (5%), whichever is less; provided, however, the interest
rate during the first twelve (12) months of any loan shall be
one half of the above determined rate.
SECTION 7. The facts and representations made in the application
submitted to the Department relating to the subject matter of
the Resolution are made a part hereof by reference.
SECTION 8. The following officers of the applicant, namely,
N. Dale Bryant or David C. Severance, be and they are hereby
authorized to represent the applicant and are hereby authorized
and directed to execute a loan agreement with the Department on
behalf of the applicant.
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SECTION 9• That all Resolutions or parts of Resolutions in
conflict herewith be and the same are hereby repealed.
SECTION 10. That this Resolution shall take effect immediately
upon its adoption by the City Council and approval by the Mayor.
The foregoing Resolution was presented by Councilman W&d(y _ —_
who moved its adoption, said motion being -econded by Councilman
Upon roll call vote said Resolution was duly declared adopted
at a regular meeting of the City Council held on the a61'(day
of March, A.D. 1975; the vote of said Council upon roll call
being as follows:
IF
tp
May U
,
Councilman 17
AXtyClerk--
C
Approved this day of
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