Item C16BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: March 17, 2004 Division: Public Works
Bulk Item: Yes X No
Department: Enizineering
AGENDA ITEM WORDING: Approval to rescind the Memorandum of Agreement with the Florida
Department of Transportation concerning the Flagler Avenue Road Improvement Project as approved
on March 19, 2003.
ITEM BACKGROUND: After the BOCC approved the agreement, FDOT revised it and a
subsequent agreement was approved by the BOCC on April 16, 2003; however, the original agreement
was never rescinded.
PREVIOUS RELEVANT BOCC ACTION: Approval of first Memorandum of Agreement on
March 19, 2003, and approval of revised Memorandum of Agreement on April 16, 2003.
CONTRACT/AGREEMENT CHANGES: n/a
STAFF RECOMMENDATIONS: Approval.
TOTAL COST: n/a
COST TO COUNTY:
BUDGETED: Yes No
SOURCE OF FUNDS:
REVENUE PRODUCING: Yes No AMOUNT PER MONTH Year
APPROVED BY: County Atty. _ OMB/Purchasing Risk Management
DIVISION DIRECTOR APPROVAL: 64-� 412.1 21 LPl
Dent Pierce, Director Public Works
DOCUMENTATION: Included x To Follow Not Required
DISPOSITION: AGENDA ITEM # C I ,
Revised 1 /03
FLORIDA DEPARTMENT OF TRANSPORTATION
MEMORANDUM OF AGREEMENT
THIS AGREEMENT, made and entered into this , day of March, 2003, by
and between the State of Florida, Department of Transportation, hereinafter
referred to as "FDOT, and the Sate of Florida, Department of Insurance, Division
of Treasury, hereinafter referred to as "Treasury", and the County of Monroe,
hereinafter referred to as the "COUNTY."
WITNESSETH:
WHEREAS, FDOT, is currently constructing the following project:
Financial Management No.: 251457-2
Project Name: Flagler Avenue (CR5-A)
County: Monroe
Hereinafter referred to as the "Project".
WHEREAS, FDOT and the COUNTY entered into a Locally Funded Joint
Participation Agreement dated 1.9, 2003, wherein
FDOT agreed to perform certain work on behalf of .the COUNTY in conjunction
with the Project.
WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in
the best interest of the FDOT and the COUNTY to establish an interest bearing
escrow account to provide funds for the work performed on the Project on behalf
of the COUNTY by the FDOT.
NOW THEREFORE, in consideration of the premises and the covenants
contained herein, the parties agree to the following:
1. An initial deposit in the amount of $1,220,000.00 (One Million Two -
Hundred Twenty Thousand Dollars) will be made by the COUNTY into an interest
bearing escrow account established by the Department for the purposes of the
project. Said escrow account will be opened with the Department of Insurance,
Division of Treasury, Bureau of Collateral Securities, on behalf of the FDOT upon
receipt of this Memorandum of Agreement. Such account will be an asset of
FDOT.
2. Other deposits will be made only by the COUNTY as necessary to
cover the cost of additional work prior to the execution of any Supplemental
Agreements or Amendments.
3. All deposits shall be made payable to the Department of Insurance,
Revenue Processing and mailed to the FDOT Office of Comptroller for
appropriate processing at the following address:
Florida Department of Transportation
Office of Comptroller
3717 Appalachee Parkway, Suite E
Mail Station 24
Tallahassee, FL 32311
ATTN: LFA Coordinator
A copy of this Agreement should accompany the deposit. When the check is
mailed to Tallahassee, the COUNTY shall also mail a copy of the check to the
District Office at he following address:
Florida Department of Transportation — District Six
1000 NW 111 Avenue, Room 6247
Miami, FL 33172
ATTN: David J. Mendez, P.E., Project Manager
4.. The FDOT's C.omptroller:or designee(s) shall be the sole signatories..o.n
the escrow account with the Department of Insurance and shall.have sole
authority to authorize withdrawals fromsaidaccount.
5. Unless instructed otherwise by the parties hereto, all interest
accumulated in the escrow account shall remain in the account for the purposes
of the project as defined in the LFA.
6. The Treasury agrees to provide written confirmation of receipt of funds
to the FDOT.
6. The Treasurers Office further agrees to provide periodic reports to the
FDOT.
STATE OF FLORIDA STATE OF FLORIDA
DEPARTMENT OF TRANSPORTATION DEPARTMENT OF INSURANCE
COMPTROLLER DIVISION OF TREASURY
APPROVED AS TO F-AND
_ �
BER M,
DATE
PARTICIPANT SIGNATURE
Dixie M. Spehar, Mayor/Chairman
Monroe County Board of County Commissioner
PARTICIPANT NAME & TITLE
1100 Simonton Street, RM 231
Key West, Florida 33040
PARTICIPANT ADDRESS
MEMORANDUM OF AGREEMENT
1 C74 APe
THIS AGREEMENT, made and entered into this lg day of %1hOR56,
2003 , by and between the State of Florida, Department of Transportation, hereinafter
referred to as "FDOT" and the State of Florida, Department of Financial Services, Division
of Treasury and MONROE COUNTY hereinafter referred to as the "Participant".
WITNESSETH-,
WHEREAS, "FDOT" is currently constructing the following project: 1 `.
Financial Project Dumber: 251457-2
County: Monroe"
hereinafter referred to as the "Project".
WHEREAS, FDOT and the Participant entered into a Locally Funded Agreement
dated March 19, 2003, wherein DOT agreed to perform certain work on behalf of the
Participant in conjunction with the Project.
WHEREAS, the parties to this AGREEMENT mutually agreed that it would be in the
best interest of the FDOT and the Participant to establish an interest bearing escrow
account to provide funds for the work performed on the Project on behalf of the Participant
by the FDOT.
NOW THEREFORE, in consideration of the premises and the covenants contained
herein, the parties agree to the following:
1. An initial deposit in the amount of $ 1,220,000.00 (One Million Two -hundred
twenty thousand dollars) will be made by the Participant into an interest bearing escrow
account established by the FDOT for the purposes of the project. Said escrow account will
be opened with the Department of Financial Services, Division of Treasury, Bureau of
Collateral Management on behalf of the FDOT upon receipt of this Memorandum of
Agreement. Such account will be an asset of FDOT.
2. Other deposits will be made only by the Participant as necessary to cover the
cost of additional work prior to the execution of any Supplemental Agreements.
3. All deposits shall be made payable to the Department of Financial Services,
Revenue Processing and mailed to the FDOT Office of Comptroller for appropriate
processing at the following address:
Florida Department of Transportation
Office of Comptroller
3717 Apalachee Parkway, Suite B
Mail Station 24
Tallahassee, Florida 32311
ATTN: LFA Section
A copy of this Agreement should accompany any deposits. When the check is
mailed to Tallahassee, the District Office should instruct the Participant to mail
the District Office a copy of the check.
4. The FDOTs Comptroller and/or her designees shall be the sole signatories
on the escrow account with the Department of Financial Services and shall have sole
authority to authorize withdrawals from said account.
5. Unless instructed otherwise by the parties hereto, all interest accumulated
in the escrow account shall remain in the account for the purposes of the project as
defined in the LFA.
6. The Department of Financial Services agrees to provide written confirmation
of receipt of funds to the FDOT.
7. The Department of Financial Services further agrees to provide periodic
reports to the FDOT.
r
STATE OF FLORIDA
DEPARTMENT OF TRANSPORTATION
COMPTROLLER
r 'T; 0!'."T'YI
APPROVED AS TO FORM
AND _LNCY.
OE
DATE
STATE OF FLORIDA
DEPARTMENT OF FINANCIAL SERVICES
DIVIISI N OF MEASURY
PARTICIPANT SIGNATURE
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Inayo/�G�iai'r✓ma»
PARTICIPANT NAME & TITLE
PARTICIPANT ADDRESS
FEDERAL EMPLOYER I.D. NUMBER