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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO APPLY FOR THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION REVOLVING LOAN PROGRAM FOR POINT SOURCE WATER POLLUTION CONTROL; AND, UPON APPROVAL, AUTHORIZING EXECUTION OF THE CORRESPONDING LOAN AGREEMENT, PLEDGING OF STORMWATER UTILITY FEES AS THE REVENUES TO REPAY THE LOAN, AND PROVIDING FOR CARRYING OUT ALL LOAN RESPONSIBILITIES UNDER THE AGREEMENT; PROVIDING FOR CONFLICTS, PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $875,000. Financed over the maximum SRF 20-year term with Stormwater revenues)
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(Staff Contact: A. Randolph Brown)
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Summary Explanation/Background:
We are in the process of applying for State Revolving Fund (SRF) for three Stormwater design projects: NW 7th Terrance, SE 15th Avenue, NE 10th Street and Dixie Hwy. These projects will provide additional storage volume for Stormwater runoffs. The expected cost is $875,000 and will be finance over the maximum SRF terms of 20 years.
Origin of request for this action: Utilities
Fiscal impact and source of funding: $875,000. Financed over the maximum SRF 20-year term with Stormwater revenues
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