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<br />RESOLUTION NO. 2001-330 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE CITY <br />MANAGER TO FILE A LOAN APPLICATION WITH THE STATE OF <br />FLORIDA FOR A LOAN IN THE AMOUNT OF $670,000.00 UNDER THE <br />STATE REVOLVING FUND LOAN PROGRAM FOR STORMWATER <br />ACTIVITIES; PROVIDING THE CITY MANAGER WITH THE <br />AUTHORITY TO NEGOTIATE A LOAN AGREEMENT WITH THE <br />STATE; PROVIDING FOR LIMITATIONS ON BORROWING; <br />ESTABLISHING PLEDGED REVENUES; DESIGNATING <br />AUTHORIZED REPRESENTATIVES; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, Florida Statutes provide for loans to local government agencies to finance <br />the construction of water pollution control facilities; and <br /> <br />WHEREAS, Florida Administrative Code rules require authorization to apply for loans, <br />to establish pledged revenues, to designate an authorized representative; to provide assurances of <br />compliance with loan program requirements; and to enter into a loan agreement; and <br /> <br />WHEREAS, the State Revolving Fund Loan priority list designates the proposed Sunny <br />Isles Beach Project No. SW12089701P as eligible for available funding; and <br /> <br />WHEREAS, the City of Sunny Isles Beach, Florida, intends to enter into a loan <br />agreement, via ordinance as per City Charter, with the Department of Environmental Protection <br />under the State Revolving Fund for project financing. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section I. Recitals. The foregoing recitals are incorporated herein by reference and made <br />part hereof. <br /> <br />Section 2. Authority of the City Manager. The City Manager is hereby authorized to apply <br />for a $670,000 low interest loan to finance pre-construction activities of the Stormwater Project. <br />The City Manager is also authorized to negotiate a loan agreement with the state. <br /> <br />Section 3. Limitations on Borrowing. If the loan application is approved by State, the City <br />Manager is not authorized to execute a loan agreement, unless the City Commission approves <br />loan agreement via an ordinance. <br /> <br />Section 4. Pledge of Revenues. The revenues to be pledged for the repayment of the loan <br />are net stormwater utility system revenues after payment of annual operating expenses. <br /> <br />State Revolving Fund Loan Application Reso <br />