Backup Documents 01/12/2010 Item #16C4
16C,,"
ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP
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Route to Addressee(s) Office Iuitials Date
(List in routin~ order)
I.
2.
3.
4. Jennifer B. White Assistant County Attorney
5. ~1I~ PiIs6,., Executive Manager Board of County Commissioners h.- 111'31'0
I rqN in rr~l~eL-L,
6. Dwight E Brock Clerk of Court's Office
PRIMARY CONTACT INFORMATION
(The primary contact is the holder of the original document pending Bee approval. Normally the primary contact is the person who created/prepared the executive
summary. Primary contact information is needed in the event one of the addressees above, including Sue Filson, need to contact staff for additional or missing
infonnation, All original documents needing the Bee Chairman's signature are to he delivered to the Bee office only after the BCC has acted to approve the
item.)
Name ofprimary Staff BalaM. Sridhar Phone Number 252-2539
Contact
Agenda Date Item was January 12, 2010 Agenda Item Number 16C4
Approved bv the BCC
Iyp-".ofDocum..!'nt --- _Amendment # 2 to SRF Loan Agreement Number of Original 3, - ,,__ _~c'cc,'
Attachea ---- --, ,-- jJW ifH030--- ..--- -DOcuments Attached ---- - -
1.
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Yes
(Initial)
2.
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~r3(Aj
I: Forms/ County Forms/ BCe Forms/ Original Documents Routing Slip WWS Original 9.03.04, Revised 1.2605, Revised 2.24.05
MEMORANDUM
Date:
January 13, 2010
To:
Bala Sridhar
Sr. Mgt. & Budget Analyst
Public Utilities
From:
Teresa Polaski, Deputy Clerk
Minutes & Records Department
Re:
Amendment 2 to SRF Loan Agreement DW111 030
Enclosed please find three (3) originals of the document, as
referenced above, (Agenda Item #16C4), adopted by the Board of
County Commissioners on Tuesday, January 12, 2010.
Please return a fully executed original back to the Minutes &
Records Department once all signatures have been received.
If you should have any questions, please contact me at 252-8411.
Thank you.
Enclosure
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16C 4
DRINKING WATER STATE REVOLVING FUND
AMENDMENT 2 TO LOAN AGREEMENT DWllll 030
COLLIER COUNTY
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and COLLIER COUNTY, FLORIDA, (Project
Sponsor) existing as a local government agency under the laws of the State of Florida.
WITNESSETH:
WHEREAS, the Department and the Project Sponsor entered into a Drinking Water State
Revolving Fund Loan Agreement, Number DWllll 030, as amended, authorizing a Loan
amount of $11,200,000, excluding Capitalized Interest; and
WHEREAS, the Project Sponsor is entitled to additional financing of $5,839,056, excluding
Capitalized Interest; and
WHEREAS, an interest rate must be established for the additional financing amount awarded
in this amendment; and
WHEREAS, a Loan Service Fee must be assessed for the additional financing; and
WHEREAS, the Semiannual Loan Payment amount needs revision to reflect adjustment in the
Loan amount; and
WHEREAS, the Project costs need adjustment to reflect revised estimates; and
WHEREAS, revised provisions for audit and monitoring are needed.
NOW, THEREFORE, the parties hereto agree as follows:
1. Section 2.03 of the Agreement, as amended, is deleted and replaced as follows:
(I) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
Federal Resources, Including State Match, Awarded to the Recipient Pursuant to this Agreement Consist of
the Following:
Federal State
Program Federal CFDA Funding Appropriation
Number Agencv Number CFDA Title Amount Category
FS984522-090 EPA 66.468 Capitalization Grants for $17,039,056 140129
Drinking Water State Revolving
Fund
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(2) Audits.
(a) In the event that the Project Sponsor expends $500,000 or more in Federal awards in
its fiscal year, the Project Sponsor must have a single or program-specific audit conducted in
accordance with the provisions of OMB Circular A-133, as revised. Subsection 2.03(1) of this
Agreement indicates that Federal funds are awarded through the Department by this
Agreement. In determining the Federal awards expended in its fiscal year, the Project Sponsor
shall consider all sources of Federal awards, including Federal resources received from the
Department of Environmental Protection. The determination of amounts of Federal awards
expended should be in accordance with the guidelines established by OMB Circular A-133, as
revised. An audit of the Project Sponsor conducted by the Auditor General in accordance with
the provisions of OMB Circular A-133, as revised, will meet the requirements of this part.
(b) In connection with the audit requirements addressed in the preceding paragraph (a),
the Project Sponsor shaIl fulfill the requirements relative to auditee responsibilities as provided
in Subpart C of OMB Circular A-133, as revised.
(c) lf the Project Sponsor expends less than $500,000 in Federal awards in its fiscal year,
an audit conducted in accordance with the provisions of OMB Circular A-133, as revised, is not
required. The Project Sponsor shall inform the Department of findings and recommendations
pertaining to the State Revolving Fund in audits conducted by the Project Sponsor in which the
$500,000 threshold has not been met. In the event that the Project Sponsor expends less than
$500,000 in Federal awards in its fiscal year and elects to have an audit conducted in accordance
with the provisions of OMB Circular A-133, as revised, the cost of the audit must be paid from
non-Federal resources (i.e., the cost of such an audit must be paid from Project Sponsor
resources obtained from other than Federal entities).
(d) The Project Sponsor may access information regarding the Catalog of Federal
Domestic Assistance (CFDA) via the internet at www.cfda.gov/index?cck=1&au=&ck=.
(3) Report Submission.
(a) Copies of reporting packages for audits conducted in accordance with OMB Circular
A-133, as revised, and required by Subsection 2.03(2) of this Agreement shall be submitted,
when required by Section .320 (d), OMB Circular A-133, as revised, by or on behalf of the
Project Sponsor directly to each of the foIlowing:
(i) The Department at the foIlowing address:
Joe Aita, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS 41
TaIlahassee, Florida 32399-3123
(ii) The Federal Audit Clearinghouse designated in OMB Circular A-133, as revised
(the number of copies required by Sections .320 (d)(1) and (2), OMB Circular A-133,
as revised, should be submitted to the Federal Audit Clearinghouse), at the
foIlowing address:
2
Federal Audit Clearinghouse
Bureau of the Census
1201 East 10th Street
Jeffersonville, IN 47132
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Submissions of the Single Audit reporting package for fiscal periods ending on or
after January 1, 2008, must be submitted using the Federal Clearinghouse's Internet
Data Entry System which can be found at http://harvester.census.gov / fac /
(iii) Other Federal agencies and pass-through entities in accordance with Sections
.320(e) and (f), OMB Circular A-133, as revised.
(b) Pursuant to Section .320(f), OMB Circular A-133, as revised, the Project Sponsor shall
submit a copy of the reporting package described in Section .320(c), OMB Circular A-133, as
revised, and any management letters issued by the auditor, to the Department at the address
listed under Subsection 2.03(3)(a) of this Agreement.
(c) Any reports, management letters, or other information required to be submitted to
the Department pursuant to this Agreement shall be submitted timely in accordance with OMB
Circular A-133, Florida Statutes, or Chapters 10.550 (local governmental entities) or 10.650
(nonprofit and for-profit organizations), Rules of the Auditor General, as applicable.
(d) Project Sponsors, when submitting financial reporting packages to the Department
for audits done in accordance with OMB Circular A-133, or Chapters 10.550 (local
governmental entities) or 10.650 (nonprofit and for-profit organizations), Rules of the Auditor
General, should indicate the date that the reporting package was delivered to the Project
Sponsor in correspondence accompanying the reporting package.
(4) Project-Specific Audit.
Within 12 months after the amendment establishing final Project costs, the Project
Sponsor shall submit to the Department a Project-specific audit report for the Loan related
revenues and expenditures. The audit shall address Loan disbursements received, Project
expenditures, and compliance with Loan Agreement covenants. The Project Sponsor shall
cause the auditor to notify the Department immediately if anything comes to the auditor's
attention during the examination of records that would constitute a default under the Loan
Agreement. The audit findings shall set aside or question any costs that are unallowable under
Chapter 62-503, Florida Administrative Code. A final determination of whether such costs are
allowed shall be made by the Department.
(5) Record Retention.
The Project Sponsor shall retain sufficient records demonstrating its compliance with
the terms of this Agreement for a period of five years from the date the audit report is issued,
and shall allow the Department, or its designee, Chief Financial Officer, or Auditor General
access to such records upon request. The Project Sponsor shall ensure that audit working
papers are made available to the Department, or its designee, Chief Financial Officer, or
Auditor General upon request for a period of five years from the date the audit report is issued,
unless extended in writing by the Department.
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The Project Sponsor is hereby advised that the Federal and/ or Florida Single Audit Act
Requirements may further apply to lower tier transactions that may be a result of this
Agreement. For federal financial assistance, the Project Sponsor shall utilize the guidance
provided under OMB Circular A-133, Subpart B, Section ~.21O for determining whether the
relationship represents that of a subrecipient or vendor.
The Project Sponsor should confer with its chief financial officer, audit director or
contact the Department for assistance with questions pertaining to the applicability of these
requirements.
In addition, the Project Sponsor agrees to complete and submit the Certification of
Applicability to Single Audit Act Reporting, Attachment A, attached hereto and made a part
hereof, within four (4) months following the end of the Project Sponsor's fiscal year.
Attachment A should be submitted to the Department's Grants Development and Review
Manager at 3900 Commonwealth Boulevard, Mail Station 93, Tallahassee, Florida 32399-3000.
The Grants Development and Review Manager is available to answer any questions at
(850) 245-2361.
(6) Monitoring.
In addition to reviews of audits conducted in accordance with OMB Circular A-133, as
revised (see audit requirements above), monitoring procedures may include, but not be limited
to, on-site visits by Department staff, limited scope audits as defined by OMB Circular A-133, as
revised, and/ or other procedures. By entering into this Agreement, the Project Sponsor agrees
to comply and cooperate with any monitoring procedures/processes deemed appropriate by
the Department. In the event the Department determines that a limited scope audit of the
Project Sponsor is appropriate, the Project Sponsor agrees to comply with any additional
instructions provided by the Department to the Project Sponsor regarding such audit. The
Project Sponsor further agrees to comply and cooperate with any inspections, reviews,
investigations, or audits deemed necessary by the Chief Financial Officer or Auditor General.
2, Section 8,02 of the Agreement is deleted and replaced as follows:
Books, records, reports, engineering documents, contract documents, and papers shall
be available to the authorized representatives of the Department and the u.s. Environmental
Protection Agency's Inspector General for inspection at any reasonable time after the Project
Sponsor has received a disbursement and until five years after the date that the Project-specific
audit report, required under Subsection 2.03(4), is issued.
3. Additional financing in the amount of $5,839,056, excluding Capitalized Interest, is
hereby awarded to the Project Sponsor.
4. An interest rate of 2.71 percent per annum is established for the additional financing
amount awarded in this amendment; however, if this amendment is not executed by the Project
Sponsor and returned to the Department before January 1, 2010, the interest rate may be
adjusted.
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,
5. The estimated principal amount of the Loan is hereby revised to $17,232,029, which
consists of $17,039,056 authorized for disbursement to the Project Sponsor and $192,973 of
Capitalized Interest. This total consists of the following:
(a) Original Agreement of $8,192,973, including $8,000,000 authorized for disbursement
to the Project Sponsor and $192,973 of Capitalized Interest, at an interest rate of 2.64 percent per
annum; and
(b) Amendment 1 of $3,200,000 authorized for disbursement to the Project Sponsor at an
interest rate of 2.79 percent per annum; and
(c) Amendment 2 of $5,839,056 authorized for disbursement to the Project Sponsor at
an interest rate of 2.71 percent per annum
The estimated principal does not reflect payments received to date.
6. An additional Loan Service Fee in the amount of $116,781, for a total of $340,781, is
hereby assessed. The fee represents two percent of the Loan amount excluding Capitalized
Interest; that is, two percent of $17,039,056. Estimated Loan Service Fee capitalized interest for
the fee amount assessed to date is $4,212.
7. The Semiannual Loan Payment amount, adjusted to account for repayments
received to date, is hereby revised and shall be in the amount of $571,145. Such payments shall
be received by the Department on February 15, 2010 and semiannually thereafter on August 15
and February 15 of each year until all amounts due hereunder have been fully paid. Until this
Agreement is further amended, each Semiannual Loan Payment will be proportionally applied,
after deduction of the Loan Service Fee is complete, toward repayment of the amounts owed on
each incremental Loan amount at the date such payment is due.
8. The Project Sponsor and the Department acknowledge that the actual cost of the
Project has not been determined. Project cost adjustments may be made as a result of mutually
agreed upon Project changes. Capitalized Interest will be recalculated based on actual dates
and amounts of Loan disbursements. If the Project Sponsor receives other governmental
financial assistance for this Project, the costs funded by such other governmental assistance will
not be financed by this Loan. The Department shall establish the final Project costs after its
final inspection of the Project records. Changes in Project costs may also occur as a result of the
Project Sponsor's Project audit or a Department audit.
Funds disbursed in accordance with Section 4.08 of this Agreement shall be disbursed in
the order in which they have been obligated without respect to budgetary line item estimates.
All disbursements shall be made from the original Loan amount until that amount has been
disbursed; the interest rate established for the original Loan amount shall apply to such
disbursements for the purpose of determining the associated Capitalized Interest and
repayment amount. The interest rate established for any additional increment of Loan
financing shall be used to determine the Capitalized Interest and repayment amount associated
with the funds disbursed from that increment.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
5
The estimated Project costs are revised as follows:
CATEGORY
Administrative Allowance
Engineering Allowance
Construction and Demolition
Contingencies
Technical Services After Bid Opening
SUBTOTAL
Capitalized Interest
TOTAL (Loan Principal Amount)
COST($)
163,834
1,638,342
26,005,428
1.300,271
3,656,000
32,763,875
192,973
32,956,848
AUTHORIZED
LOAN
AMOUNT($) TO
DATE
Line items
may van}
based on
actual
disbursements
17,039,056
192,973
17,232,029
All other terms and provisions of the Loan Agreement shall remain in effect
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
6
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16C4
This Amendment 2 to Loan Agreement DWllll 030 shall be executed in three or more
counterparts, any of which shall be regarded as an original and all of which constitute but one
and the same instrument.
IN WITNESS WHEREOF, the Department has caused this amendment to the Loan Agreement
to be executed on its behalf by the Deputy Director and the Project Sponsor has caused this
amendment to be executed on its behalf by its Authorized Representative and by its affixed
seal. The effective date of this amendment shall be as set forth below by the Deputy Director.
ATTES", for
~~: ~.;B~~ctt~ ~ COJ.UER COUNTY
~c-.lriIM , '.' <
11on4~.,.e plh' Chairman, Board of County Commissioners
ApprOvt'lO 8!l to torm & legal Sufficiency
~-i:>\.U\: +
,__. ~"'_,,~_~ . .._~~-'~!~""L"_a''''..".,,",,
t~ssl~:;~:r,',"'~ '::;(';~.!nt~1 !,viyrn(J
I attest that this amendment complies with
Section 2.02 of the Agreement.
S}f>')0~'1 CUrt, low"t1-~~~
. ~ County Attorney ,1
STATE OF FLORIDA
COUNTY OF COLLIER
---c.. . at-Iv
S.:v?rn to and tbsCribed before me this I~*' day of J( n l.) CLr~ ' 2OO'l; by
"ef\I\\W ,U 11\ dt:... , who ~ is personally known to e I D provided the
following identification: .) ~ ~
. SUE...ZIIIEIIIAN .-U., ,YY\. t./yx.o..i
: ~ MY COII~ION' DO 867294 "l,
" ' . EXPIRES: Ju~6, 2013 for r
_Thru-,PublIctJ.-
STATE OF FLORIDA
DEP ARTMENT OF ENVIRONMENT AI. PROTECTION
Date
Deputy Director
Division of Water Resource Management
Attachment included as part of this Agreement:
Attachment A - Certification of Applicability to SingJe Audit Act Reporting
7
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ATTACHMENT A
CERTIFICATION OF APPLICABILITY TO SINGLE AUDIT ACT REPORTING
Local Government's Name:
Local Government's Fiscal Year Period: FROM:
TO:
Total State Financial Assistance Expended during Local Government's most recently completed
Fiscal Year: $
Total Federal Financial Assistance Expended during Local Government's most recently
completed Fiscal Year: $
Please identify grants to be included in the Single Audit that are provided by the Department of
Environmental Protection
CSFA#CFDA# DEP LOAN AGREEMENT NUMBER
CERTIFICATION STATEMENT:
I hereby certify that the above information is correct:
Name
Date
Title
DEP Project Agreement No, DW 1111 030, Attachment A, Page 1 of I