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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 EXECUTE AMENDMENT 2 TO LOAN AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION, RELATING TO THE REVOLVING LOAN AGREEMENT NO. DW062480 FOR DRINKING WATER FACILITIES; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $9,200,000 Financed over the maximum SRF 20-Year term)
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(Staff Contact: A. Randolph Brown)
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Summary Explanation/Background:
City Officials approved Resolution 2022-237 authorizing the Utilities Department to accept the State of Florida Department of Environmental Protection Revolving Loan for DW062480 in the amount of $9.2 million for the C-51 Reservoir Capacity Allocation.
The disbursement process is now complete. This loan supported 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
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