8th Amendment 08/21/2019 �,.cougra�►►
;18eS?"-'4'N'o
Kevin Madok, CPA
#' Clerk of the Circuit Court&Comptroller—Monroe County, Florida
DATE: October 29, 2019
TO: Kevin G.Wilson, PE
Assistant County Administrator
FROM: Pamela G. Hanco .C.
SUBJECT: August 21"BOCC Meeting
Enclosed are two duplicate originals of the following item, executed on behalf of Monroe
County, for your handling:
Ll 8th and Final Amendment for Clean Water Revolving Fund Loan for the Cudjoe
Regional Wastewater System.
Once the state has signed please be sure to return a fully executed original to our office for
the record. Should you have any questions,please feel free to contact me at(305) 292-3550.
cc: County Attorney
Finance
File
KEY WEST MARATHON PLANTATION KEY PK/ROTH BUILDING
500 Whitehead Street 3117 Overseas Highway 88820 Overseas Highway 50 High Point Road
Key West,Florida 33040 Marathon,Florida 33050 Plantation Key,Florida 33070 Plantation Key,Florida 33070
305-294-4641 305-289-6027 305-852-7145 305-852-7145
STATE REVOLVING FUND
AMENDMENT 8 TO LOAN AGREEMENT WW440710
MONROE COUNTY
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION(Department) and MONROE COUNTY, FLORIDA,
(Local Government) existing as a local governmental entity under the laws of the State of
Florida. Collectively, the Department and the Local Government shall be referred to as "Parties"
or individually as "Party".
The Department and the Local Government entered into a State Revolving Fund Loan
Agreement, Number WW440710, as amended, authorizing a Loan amount of$127,200,000,
excluding Capitalized Interest; and
The Semiannual Loan Payment amount and Project costs need adjustment to reflect actual costs;
and
Certain provisions of the Agreement need to be revised.
The Parties hereto agree as follows:
1. The total amount of the Loan is $139,502,109.57, which consists of$127,200,000
disbursed to the Local Government, $9,758,109.57 of accrued Capitalized Interest and
$2,544,000.00 of service fee charges.
2. The total amount remaining to repay on the Loan is $136,637,589.07, which amount
accounts for the Department's receipt of 1 Semiannual Loan Payment and consists of the
following:
(a) The unpaid principal of the original loan of$43,582,895.74 and the unpaid service
fee charge of the original loan of$800,000.00 both at a Financing Rate of 2.39 percent per
annum (the interest rate is 1.195 percent per annum, and the Grant Allocation Assessment rate is
1.195 percent per annum).
(b) Amendment 1 unpaid principal of$27,013,629.42 and unpaid service fee charge of
$500,000.00 both at a Financing Rate of 3.07 percent per annum (the interest rate is 1.535
percent per annum, and the Grant Allocation Assessment rate is 1.535 percent per annum).
(c) Amendment 2 unpaid principal of$6,461,034.42 and unpaid service fee charge of
$120,000.00 both at a Financing Rate of 3.00 percent per annum (the interest rate is 1.50 percent
per annum, and the Grant Allocation Assessment rate is 1.50 percent per annum).
(d) Amendment 3 unpaid principal of$31,066,393.21 and unpaid service fee charge of
$600,000.00 both at a Financing Rate of 2.72 percent per annum (the interest rate is 1.36 percent
per annum, and the Grant Allocation Assessment rate is 1.36 percent per annum).
1
(e) Amendment 4 unpaid principal of$18,907,438.37 and unpaid service fee charge of
$380,000.00 both at a Financing Rate of 2.35 percent per annum (the interest rate is 1.175
percent per annum, and the Grant Allocation Assessment rate is 1.175 percent per annum).
(f) Amendment 7 unpaid principal of$7,062,197.91 and unpaid service fee charge of
$144,000.00 both at a Financing Rate of 2.48 percent per annum (the interest rate is 1.24 percent
per annum, and the Grant Allocation Assessment rate is 1.24 percent per annum).
3. The Semiannual Loan Payment amount, adjusted to account for repayments received
to date, is hereby revised and shall be in the amount of$4,502,450.97. Such payments shall be
received by the Department on December 15, 2019 and semiannually thereafter on June 15 and
December 15 of each year until all amounts due hereunder have been fully paid.
4. Subsection 2.03(l) of the Agreement is deleted and replaced as follows:
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State Resources Awarded to the Local Government Pursuant to this Agreement Consist of the
Following Resources Subject to Section 215.97, F.S.:
State CSFA Title or State
Program CSFA Fund Source Funding Appropriation
Number Funding Source Number Description Amount Category
Wastewater Wastewater
Original Treatment and 077 Treatment
Agreement Stormwater 37. Facility $127 200 000 140131
Management TF Construction
5. Project Costs are revised as follows:
The Local Government and the Department acknowledge that changes in Project costs
may occur as a result of an audit. Unless this Agreement is amended subsequent to an audit, the
following Project disbursements shall be final.
CATEGORY PROJECT COSTS ($)
Administrative Allowance 5,434,652.00
Construction and Demolition 116,969,524.00
Technical Services During Construction 4,795,824.00
SUBTOTAL (Total Disbursed) 127,200,000.00
Capitalized Interest 9,758,109.57
TOTAL (Loan Principal Amount) 136,958,109.57
6. All other terms and provisions of the Loan Agreement shall remain in effect.
2
This Amendment 8 to Loan Agreement WW44071 0 may be executed in two 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 he executed on its behalf by the Secretary or Designee 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
Department.
for
MONROE COUNTY;, .,/
, - , .
'mayor 24--
Sylvia Murphy 24 7 2 /'
. Approved as to form and legal sufficiency:
OiyWI/signed bYCynth tLf W
A Kevi t Madok, Clerk °"cr'-""°'laLH °"'�"°'
Ogle:h119.1610 135?.55-CAW
6" AepV-Ol"i 1C1X117..017 Assistant County Attorney
(13 Y � Deputy Clerk
1 .7i.):Aa. \ t
w. ,,,'
Y, Ica i{;y' %ei : r' f T 1
e 1. E ,r` • C7 rn .64
C=J
{�'
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
) o) 3011q
Secretary or Designee Date
3