HomeMy WebLinkAboutSummary FormAGENDA ITEM. SUM MARLFORM
FILE ID: 15-00733
Date: 060/2015 Requesting Department: CUT
Commission Meeting Date: 07/09/20 5 District Impacted: ALL
Type: Ei Resolution ITJ Ordinance LIJ Emergency Ordinance EJ Discussion Item
Law Department
Matter Ill No,
Other
Subject: A design and construction loan for the Wagner Creek & Seybold Canal Project B-50643 not to
exceed twenty-two million, four hundred thirteen thousAnLeig,ht hundred dollars ($22,413,800,01)) at a
zero.percent (0%) interest rate to the City of Miami from the State of Florida Enyironmental Protection
Revolving Loan Fund.
Purpose of Item:
A resolution of Miami City Commission, with attachments, providing for a design and construction
loan of not to exceed twenty-two million, four hundred thirteen thousand, eight hundred dollars
($22,413,800.00) at a zero percent (0%) interest rate (collectively, "loan") to the City of Miami
("City") from the State of Florida environmental protection ("department") clean water state revolving
fund program ("program") for the Wagner Creek/Seybold Canal project sw132000 (collectively,
"project"), with forty (40) semiannual loan payments beginning October 15, 2017; further authorizing
a loan service fee of not to exeeed four hundred forty-eight thousand, two hundred and seventy six
dollars ($448, 276.00) to be paid on October 15, 2017 by the city for the loan through the program;
making certain findings and determinations; ratifying, approving and confirming the eity's amended
loan application; authorizing the city manager to negotiate, execute and deliver the loan agreement, in
a form acceptable to the city attorney ("loan agreement"); further authorizing the city manager to
negotiate, execute and deliver, in a form acceptable to the city attorney, all other necessary
agreements, documents, and instruments in connection with the loan and the loan agreement for the
project; setting certain basic parameters of the terms and conditions of the loan and the lowr
agreement; establishing pledged revenues; designating and authorizing the city manager, the city
attorney, and all other necessary city representatives to undertake all other actions in connection
lerewith; providing assurances; providing for conflicts, severability, arid effective date.
Bud_geL_Limpact Analysis
YES is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project. No: 13-50643
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal impact:
Final Approvals
(SIG N.TE
CIP Bud
IL'uIng or No
Grants
Purchasing Dept. Director
Chief City Manage
Page I of 1
funds
Risk Management_
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