Item L7BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: November 19, 2008 Division: Engineering
Bulk Item: Yes No X Department: Wastewater
Staff Contact Person: Judy Clarke/295-4329
AGENDA ITEM WORDING:
Approval to execute Resolution and Declaration of Official Intent
Under U.S. Treasury Regulations with Respect to Reimbursement from Note and Bond Proceeds of
Temporary Advances Made for Payments Prior to Issuance and designation of the County
Administrator as the authorized officer for purposes of executing documents related thereto.
ITEM BACKGROUND:
The Department of Environmental Protection (DEP) anticipates a bond
issuance in order to make available State Revolving Fund (SRF) loan funding. The resolution and
Declaration of Intent are required in order to comply with United States Treasury Regulations for
funding infrastructure projects with tax exempt bonds.
PREVIOUS RELEVANT BOCC ACTION:
On January 25, 2006, the Board of County
Commissioners approved for county staff to apply for funding for wastewater treatment system
construction in accordance with the Monroe County Sanitary Wastewater Master Plan from Florida’s
State Revolving Loan Fund. On November 14, 2007, the Board of County Commissioners approved a
resolution adopting the Big Coppitt Regional Wastewater Treatment System and South Lower Keys
Regional Wastewater Treatment Plant State Facilities Plan. On December 19, 2007 the BOCC
approved a resolution for the execution and delivery of the loan agreement with the Florida Rural
Utility Financing Commission (FRUFC) for an amount not to exceed $21,000,000, which was to serve
as interim financing until funding became available under the SRF program.
CONTRACT/AGREEMENT CHANGES:
none
__________________________________________________________________________________
STAFF RECOMMENDATIONS:
Approval.
TOTAL COST: BUDGETED:
___$0 Yes X__ No __
COST TO COUNTY: SOURCE OF FUNDS:
__$0 NA_____
REVENUE PRODUCING:AMOUNT PER MONTHYear ____
Yes No
APPROVED BY:
County Atty OMB/Purchasing Risk Management _
DOCUMENTATION:
Included X__ Not Required
DISPOSITION:AGENDA ITEM #
Revised 2/05