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 In The Estimated Amount Of $3,776,652.00 With Principal Forgiveness In The Amount Of $1,470,000.00 (Including Capitalized Interest And Loan Service Fees) For The Lead And Copper Rule Compliance Project; Authorizing The Loan Agreement; Establishing Pledged Revenues; Designating Authorized Representatives; Providing Assurances; Providing For Conflicts And Severability.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
In October 2021, the Environmental Protection Agency ("EPA") revised the existing Lead and Copper Rule ("LCCR") to enhance implementation in the areas of monitoring, treatment, customer awareness, and lead service line replacement.
The EPA set guidelines that all public water systems must develop a service line inventory ("SLI") that documents the service line materials for public utility and customer-owned lines and submit related documentation to the State on or before October 16, 2024.
In order to meet the aforementioned requirements, the Department of Public Utilities ("Department") sought funding from the Florida Department of Environmental Protection ("FDEP") through the State Revolving Fund loan ("SRF") program. The funding will allow public utilities to comply with the LCCR.
Florida Statutes provide for loans to local government agencies to finance the construction of water, wastewater, and stormwater facilities through the FDEP SRF Loan Program.
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.
In June 27, 2023, the Department submitted a Request For Inclusion to be in...
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