title
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE MAYOR TO ACCEPT THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION REVOLVING LOAN FOR DRINKING WATER FACILITIES; PLEDGING OF WATER AND SEWER UTILITY FEES AS THE REVENUES TO REPAY THE LOAN, PROVIDING FOR CONFLICTS, PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $9,200,000. Financed over the maximum SRF 20-year term with Water and Sewer revenues)
staffcontact
(Staff Contact: A. Randolph Brown)
summary
Summary Explanation/Background:
City Officials approved and authorized the Utilities Department to apply for the State Revolving Fund (SRF) loan for the C-51 Reservoir Capacity Allocation financing at the March 22, 2022 Commission meeting (Resolution 2022-111). The State reviewed and approved the application and forwarded the attached loan agreement (DW062480) for final approval. This loan will support the purchase of 2 MGD from the C-51 reservoir project.
Origin of request for this action: Utilities
Fiscal impact and source of funding: $9,200,000 Financed over the maximum SRF 20-year term with Water and Sewer revenues
pagebreak1
strategicplan_emblem_field
pagebr
strategicplan_description_field