Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Relating To The State Revolving Fund Loan Program; Making Findings; Authorizing Loan Applications For $12,050,000.00 (Including Capitalized Interest And Loan Service Fees) For Funding Of Projects Related To The Four-Log Treatment Of Groundwater Project; Authorizing The Loan Agreement; Establishing Pledged Revenues; Designating Authorized Representatives; Providing Assurances; Providing For Conflicts, Severability, And An Effective Date.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution
Explanation:
The City of Hollywood owns and operates a potable water system to supply safe and reliable drinking water to its residents and portions of several other municipalities referred to as "Large Users". The City's Water Treatment Plant (WTP) is the sole source of treated water to these customers. The City's WTP has a service area covering 41.2 square miles and includes over 700 miles of pipeline. Raw water from the Biscayne Aquifer wells serves as the primary source water to the WTP and is treated using lime softening and membrane softening treatment processes.
The Florida Statutes provide for loans to local government agencies to finance the construction of water, wastewater, and stormwater facilities through the State Revolving Fund (SRF) Loan Program with the Florida Department of Environmental Protection (DEP)
The Florida Administrative code rules require authorization to apply for loans, to establish pledged revenues, to designate an authorized representative, to provide assurances of compliance with loan program requirements, and to enter into a loan agreement.
To facilitate the project, the Department of Public Utilities (Department) sought funding from FDEP) through the SRF program. The funding will allow the Department to complete the required modifications and upgrades for this project as soon as feasible.
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