1st Amendment 04/18/2012 DANNY L. KOLHAGE
CLERK OF THE CIRCUIT COURT
DATE: April 26. 2012
TO: Elizabeth Wood. Senior Administrator
Sewer Projects
FROM: Pamela G. llanct ck. .C.
At the April 18, 2012, Board of County Commissioner's meeting, the Board granted
approval of Item M8 to rescind Amendment I to the (Big Coppitt) State Revolving Loan Fund
Amendment I to Loan Agreement WW602091 with the Florida Department of Environmental
Protection(FDEP)approved on March 21, 2012 and execute the revised Amendment I to the Big
Coppitt FDEP Clean Water SRF Loan Agreement WW602091.
Enclosed are four duplicate originals, executed on behalf of Monroe County, for your
handling. Please be sure to return the fully execution Clerk's Original and the Finance
Departments copy as soon as possible. Should you have any questions, please do not hesitate to
contact this office.
cc: County Attorney
Finance
File ✓
STATE REVOLVING LOAN FUND .a.e,
AMENDMENT I TO LOAN AGREEMENT WW602091 r 1:71
MONROE COUNTY
-et
I
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF Fri
ENVIRONMENTAL PROTECTION(Department)and MONROE COUNTY, FLORIDA;(laical p
Government)existing as a local government agency under the laws of the State of Florida. ' o 0
WITNESSETH:
WHEREAS, the Departmrent and the Local Government entered into a State Revolving Fund
Loan Agreement, Number WW602091,authorizing a Loan amount of$20,000,000,excluding
Capitalized Interest;and
WHEREAS,the Loan Amount, Loan Service Fee,and Project costs need adjustment to reflect
actual costs;and
WHEREAS, the Semiannual Loan Payment amount needs revision to reflect adjustment of
Project costs,and the three Semiannual Loan Payments and the three supplemental payments
received by the Department from the Local Government.
NOW,THEREFORE,the parties hereto agree as follows:
I. The Loan amount is hereby reduced by $499,460,and the adjusted total disbursed
amount for this loan is $19,500,540.
2. The Loan Service Fee is reduced by$9,989,and the adjusted total service fee for this
Loan is$390,011. The fee represents two percent of the Loan amount excluding Capitalized
Interest; that is, two percent of$19,500,540.The Loan Service Fee was assessed as of the
effective date of January 18,2012.
3. The total amount to repay by the Local Government is $19,890,551, which consists of
$19,500,540 disbursed to the Local Government,$390,011 of service fee charges.
4. The Semiannual Loan Payment scheduled for March 15,2012 in the attached Amortized
Repayment Schedule was received in the amount of$668,374.00 by the Department.
5. The total amount remaining to repay which amount accounts for the Department's
receipt of four semiannual Loan Payments in the amount of$668,374.00 each and three supplemental
payments is $9,663,142.35 at a Financing Rate of 2.71 percent per annum(the interest rate is 1,355
percent per annum,and the Grant Allocation Assessment rate is 1.355 percent per annum).
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
6. The Semiannual Loan Payment,adjusted to account for the March 15,2012 payment
and repayments received to date,is hereby revised and shall be in the amount of$340,969.10.
Such payments shall be received by the Department on September 15,2012 and semiannually
thereafter on March 15 and September 15 of each year until all amounts due hereunder have
been fully paid.
The payments are reflected as follows:
Pmt Total
No. Date Payment
1-3 September 15,2010-September 15,2011 $668,374.00 Regular payment
3.1 September 21,2011 $1,500,000.00 Supplemental payment
3.2 September 22,2011 $5,156,626.00 Supplemental payment
3.3 December 12,2011 $1,563,252 00 Supplemental payment
4 March 15,2012 $668,374.00 Regular payment
5-39 September15,2012-September 15,2029 $340,%910 Regular payment
40 March 15,2030 $340,969.25 Regular payment
7. Section 203(1) and(3)(a)(i)are hereby deleted and replaced as follows:
The Local Government agrees to the following audit and monitoring requirements.
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
Federal Resources,Including State Match,Awarded to the Recipient Pursuant to this
Agreement Consist of the Following:
Federal
State
Program Federal CFDA Funding Appropriation
Number Agency Number CFDA Title Amount Category
CS120001-090 EPA 66.458 Capitalization Grants $19,500540 140131
for State Revolving
Funds
(3) Report Submission.
(a) Copies of reporting packages for audits conducted in accordance with OMB Circular
A-133,as revised,and required by Subsection 2.03(2)of this Agreement shall be submitted,
when required by Section.320(d),OMB Circular A-133,as revised,by or on behalf of the Local
- --Government directly to each of the following:
(i) The Department at the following address:
Valerie Peacock,Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS 41
Tallahassee,Florida 32399-3123
2
B. Project Costs are revised as follows:
The Local Government and the Department acknowledge that changes in Project costs
may occur as a result of the Local Government's Project audit or a Department audit pursuant
to Chapter 62-503 of the Florida Administrative Code. Unless this Agreement is amended
subsequent to an audit,the following Project disbursements shall be final.
CATEGORY DISBURSED($)
Construction and Demolition 18,060,060.00
Technical Services During Construction 372,853.00
Financing(Interim Loan Interest) 1,067,627.00
SUBTOTAL(Total Disbursed) 19,500,540.00
Capitalized Interest 0.00
TOTAL(Loan Principal Amount) 19,50(1540.00
9. The Project-specific audit required under Subsection 2.03(4)of the Agreement shall
be submitted within twelve months after the effective date of this amendment.
10. All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
3
This Amendment 1 to Loan Agreement W W 602091 shall be executed in three or more
counterparts,any of which shall be regarded as an original and all of which constitute but one
and the same instrument.
IN WITNESS WHEREOF, the Department has caused this amendment to the Loan Agreement
to be executed on its behalf by the Deputy Division Director,and the Local Government has
caused this amendment to be executed on its behalf by its Authorized Representative and by its
affixed seal.The effective date of this amendment shall be as set forth below by the Deputy
Director.
for
MONROE COUNTY
Cha man, Soaryof County Commissioners
Attest Attest as to form and completeness:
DA_'i?Y L. IC OLHAGE, Clerk /
.,opunty Clerk 9'l1F/zew aunty Attorney
SEAL
for
STATE OF FLORIDA
DEPARTMENT OFENVIRONMENTAL PROTECTION
.. � Z2t-- JUN042012
Deputy Director Date
Division of Water Resource Management
4
Calculation of Semiannual Payment for Remaining Years
Sponsor Monroe County Funding Number:602091
Beginning of Repayment Period:03/15/2010 Payments Remaining:37
Original Loan Combined Rate:2.71
Date Balance Disbursement Comb.Int Total Owed Present Payment
Forward Or Serv.Fee At At Values At Amount
09/15/2012 09/15/2012 03/15/2012
03/15/2012 9,663,142.35 0.00 130,935.58 9,794,077.93
Totals: 9,794,077.93 9,663,142.35 340,969.10
Totals: 9,794,077.93 9,663,142.35 340,969.10
`Present value is the total owed divided by(I+(Combined interest rate)/2)
The Payment Amount is computed using the present value.
Wed. 1 Feb 2012 07:45 Page 1 of9
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