HomeMy WebLinkAboutFinal SubmittalSTATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
STATE REVOLVING LOAN PROGRAM
for
11111 11 1 111 1 111 111pip ilier's
Florida Department of Environmental Protection
State Revolving Fund Program
Twin Towers Office Building
2600 Blair Stone Road, MS 3505
Tallahassee, F1, 32399-2400
Form Application I
Incorporated in 62-503.4300)(a), F.A.C. 1`11ective Date 4-22-14
LOAN APPUCATION
Page
Number
(D 80B&88]TAL—..... --..................................... ... —... ............... ~....... .......... ........... _........... l
(Z) COMPLETING ]D£AyPLICATIQN... ................ ................. ... .......... ..—.-._............... _...... l
(3} A8SISTANC£-..... —_.---.................. ....................... ......... —.......... —._.............. _--....... . l
YARTI-ADMINISTRATIVE INFORMATION
(|) PRCVECT8yONSOR.......... --- .... ... ... ....... —................ --_—_..........................................
--- 1
(2) AUTHORIZED KEPR6SENT/&TI'VI'E'... —......... ................. .._—................ ......... ........... _—......... l
(3) PR IMLABY CONT ACT ..... —........ -----......................... —_........... ................. ......... _...... ...... \
(4) ADDITIONAL. CONTACTS ... ............ _~..................... ......... ............... ... --....... ...... ........ ........... l
(5) PR0MCTNDMBBR... ...... —_.—........ —_.—_--- ................... ............ _..................... —... --- l
(6) INTERIM FINANCING ......... ~...... _—_--_--........... —_—.......... —.......... --................ ' l
PART 11'PROJECT INFORMATION
A.PRECONSTR0CTION PROJECT
(l) ACTl\/UTIED....... _........... ................ _—_................. _.............. _..................... .............. .—_ 2
(2) 8C}EDU0E_........ ............... —............ ---.......... ----..—..-----...... _........................ 2
(3) COST— .......... —......... ............................. ----....... —_—_~......... ---........ —....................... 2
B. CONSTRUCTION PROJECT
(l) ACTIVITIES ....................... --- ....... _--._—........................ _----_......... --............ -- 2
(2) 8CIEDD%JE_--...... ----- ............ ....... —.............. ........... —...... --.............. —..................... 3
(3) COST- ...... _....... ---...... .... ...... ---............ --....... ...... ............ .............. ................... 3
PARTI&I-FINANCIANIN
(1) PRINCIPAL _—_............... --- ............ --............ _—_—_----_—_........ —_._................... 3
(2) 'TERMS AND REPAYMENT ............ .......................................... -----............................... ....... 3
(3) ANNUAL. FUNDING EINIl3_.... ....... .............. ...... .................. ---...... .......... _—...................... 3
(4) INFORMATION ONIJEMS_........ ---.................................. ...... ........ ......... --- ...................... 3
(5) ACTDA.LAND PROJECTED REVENUES. ... ............. ---_............................... —............ ........... 4
(6) &VAD-ABIK]TY0FPI-EDGED REVENUES ......... _—_—_...... ....... ... ...... ........... .......... 4
(7) WAN SERVlCEFEE—.... ................ —_----------_—......... --_....... ----.................... 4
PARTpV- AUTHORIZATION AND ASSURANCES
(1) ION ..... ..... .... —.............. —........ --................................. --_—_—_........ ....... 4
(Z) ASSURANCES ... ................ —................. ---- ...... .............................. ................ _----........ —' 4
PARTV-S0PP8EMENTA0YINFORMATION
SCHEDULE OF PRIOR AND PARITY Ll£NS.............................. ----_—_-.......... --.................... 7
SCHEDULE OF AC,'I0AIREVENUES AND DEBI' COV Ept&GE.......... —...................... .......... —_.' 8
SCHEDULE OF PROJECTED REVENUES AND DEBT C0VEB&GE—... —...... -._—...... —............ .. V
Forin Application i
Incorporated iii 62'5u3438(l)(ukEAk'. Effective Date 4-22-i4
LOAN APPLICATION
(1) SUBMITTAL. Submit the application and attachments to the Department of Environmental Protection, NIS 3505,,
State Revolving Fund Program, 2600 Blair Stone Road, 'I"allahassee. Florida 32399-2400. The application (and
backup) may be SUbmitted electronically to the, Department's Project Manager.
(2) COMPLETING TFIF APPLICATION.
(a) This application consists of" five parts: (1) ADMINISTRATIVE INFORMATION; (11) PROJECT INFORMATION;
(111) FINANCIAL INFORMATION: (IV) AUTHORIZATION AND ASSURANCES, and (V) SUPPLI'MENTARY
INFORMATION.
(b) All information provided on this application must be printed. Monetary amounts may be rounded.
(c) Forms and attachments to be submitted are denoted with italic print.
(3) ASSISTANCE. Completing this application may require information that can be obtained from Clean Water State
Revolving Fund Program staff. Please email Sl�[I lra �tuuvvxi r d('j),StAe 11AIS for assistance in completing this
application.
PART - ADMINISTRATIVE INFORMATION
(1) PROJECI SPONSORCity ofC
. ................ ...... . _AeeC;aQtavera I ------ - - -----
Federal Employer Identification Number 59-0974636
DUNS Number 172428708
(2) AUTHORIZED REPRESENTATIVE (person authorized to sign or attest loan documents).
Name David L. Greene . . . ........ --- -- Title City Manager__.._... .... . ........ ...........
Telephone (321) 868-1235 FAX (321) 868-1224 Email d.gi-eeiie((�,,,cityol'cape�c�itiavet-al,orl,
.......... . .... ....
Mailing Address P.O. Box 326
........... . ..... ....
Cape Canaveral, Fl, 32920
- . ......... --- . . ..... . . . .. ............
(3) PRIMARY CONTACT (person to answer questions regarding this application).
Name John DeLeo 'I"itle Finance Director
Telephone (321) 868-1235 FAX (321) 868-1224 Email j.deleo(i�.,cityoficapecau ve!:��O�r
. ........... . ... .. . ...... ---------
I.-'rnployer City of Cape Canaveral
.............. . .... . ......... . ....... ....
Mailing Address P.0, Box 326
Cape Canaveral, FL 32920
(4) ADDITIONAL CONTAC'T'S. If more than one additional person is to receive copies of' Department correspondence,
attach the information (Attachnient #8).
Name JeffRa91if1 Title Public Works Services Director
Telephone (321) 868 a
-1240 FAX (321) 868-1233 Email j.rtli
..... . ....... -.— — .. ....... . .. . . .. .. ...... . . . ..... jji�ityofcapecanaveral.org
Employer City of Cape Canaveral . . ........ .... . ........ . . . . . .... ............
Mailing Address P-.0 Box --326 . . . ......... . . .
Cape Canaveral, FL 32920
............. — . . .. . ........... . --- . . . . . . . .. ... ......... . -- . . . . ....... -- ... ...... ..........
(5) PROJECI NUMBER (listed on the Department's priority list). 05051
(6) INTERIM FINANCING A local government project sponsor that has interim financing may be subject to certain
conditions regarding such financing.
Is the project currently being funded with interim financing? El yes No
- - - -- ---------- ......... . ........ ...........
Form Application I
Incorporated in 62-503,430(1)(a), F,A.C. Page I of 10 Effective Date 4-22-14
PART It — PROJECTINFORMATION
If you are applying for a planning, design, or SEES loan for a project that will involve construction, complete only Subpart A
below. If you are applying, for a loan to construct a project that is already planned and designed, complete only Subpart B
below.
A. PLANNING, DESIGN OR SSES PROJECT
Information should be provided for each separate facility to be plarmed and designed as appropriate. For design/build
projects (not eligible for design loans) or those where multiple facilities, segments, or phases are involved, please attach
information for activities, schedule, and cost for each. (Afta(.4unent fl
(1) ACTIVITIES. Attach a brief description of the scope of planning and design activities to be financed by this loan.
Include a list of any specialized studies to be performed. (Allachinent #_) Are these activities the same as those
scheduled on the Requevfin, hiclusion Forin? D Yes F-1 No. If "No", please explain. (Altachment 4
(2) SCHEDULE.
(a) Provide proposed completion dates for the items. (Please call Department staff to discuss time frames needed to complete
required tasks,)
Planning documentation
Engineering work
Certification of site availability,
Permit
.................
(b) Do you anticipate that an interlocal agreement with another party will be necessary to implement Yes [:1 No
the project? lf-Yes", please explain. (Ailachment
(c) Is this a design/build project'.' Yes E] No
(3) COST. Is the cost information submitted for the planning, design or SSI S loan priority list Yes [:] No
current? If "No", please explain and submit revised cost information using the appropriate page
of the Request fir Inclusion Forms. (Attachment #__) Note that the disbursable amount will
be limited to the priority list amount.
PRECONSTRUCTION LOAN APPLICANTS PROCEEDTO PARR 11L
13. CONSTRUCTION OR 1/1 REHABILITATION PROJECT
(1) ACTIVITIES.
(a) Attach a brief' description of construction or 1/1 rehabilitation activities to be financed by this loan. Include a list of the
contracts (by title) corresponding to the plans and specifications accepted by the Department (,4 rtachment €t1),
Are these contracts the same as those scheduled on the Request for Inclusion F'01711'? E Yes El No
lf`°too". please explain. (,41tachtnent
(b) Have any ofthe contracts been bid'? El Yes [E No
11"'Yes", indicate which contracts have been bid, (Allachnient 4
(c) Was planning, design, or SSES for this project financed in another SRI" loan? Z Yes No
If "Yes", give the SRF loan number. 05050
.......... . . . . ........... .
(d) Does this proiect involve an interlocal agreement with other local governments or other entities'! ❑ Yes No
If `Yes"`, attach a copy ofthe Department letter accepting the interlocal agreement. (Allachinent #. . . ......... _J
Is the interlocal agreement, as accepted by the [Department, fully executed and enforceable'.' [:1 Yes No
If" No", please explain (Anachment 4__)
Form Application I
Incorporated in 62-503,430(1)(a), F.A.C. Page 2 of I O Effective Date 4-22-14
(2) SCHEDUI-E.
(a) Anticipated notice to proceed for first construction contract.
(month and year)
December 2014
(b) Anticipated completion of all construction contracts. July 2016 . ......
(3) COST. Is the cost information submitted for the priority list current?' M Yes R No
If "No", please explain and submit revised cost information using the appropriate page of the Requestfin- Inclusion T'oron.
(,41tachnwnt #_) Note that the disbursable amount will be limited to the priority list amount.
PART III - FINANCIAL INFORMATION
Estimates of' the capitalized interest, project useful life for financial hardship loans, financing rate, pledged revenue
coverage, limitations on annual loan amounts for large projects, applicability and amount of repayment reserves, amount of
the loan service fee and any other information may be obtained by contacting staff in the State Revolving Fund Management
Section.
(1) PRINCIPAI..-, The requested amount of the loan which does not include capitalized interest is0,9
2
$2,880
. . ...... . ...... ... . ... ............................
Note that the disbursable amount will be limited to the priority list amount and must be consistent with the project
information provided under PART 11 of this application. Also note that the capitalized interest is an inexact estimate,
and it is subject to adjustment by the Department to reflect actual disbursement timing. The principal amount of the loan
does not include the loan service fee.
(2) TERMS AND RFPAYMENT,
(a) Loans to local government project sponsors are amortized over the lesser of useful life of the project or 20 years unless
the project is to serve a small connimnity qualifying as having a financial hardship. Loans to financial hardship
communities may be amortized over the lesser of useful life of the project or 30 years. Loans to non-governmental project
sponsors are amortized over the lesser of the useful of the project or 20 years. Finance charges and principal are paid
semiannually.
What is the useful life ofthe project'! 20 (years)
Over how many years would you like to amortize the loan'? 20 (years)
(b) List all revenues that are to be pledged for repayment of this loan. Nell Revenues of the Wastewater and Storillwater
Enterprise Funds.
(c) Pledged revenue receipts or collections by the project sponsor must exceed the amount of the repayments due to the
Department unless there are other collateral provisions. The excess revenue, or coverage, generally is 15% of each
repayment.
What coverage is proposed for the loan'? 15% (coverage percentage)
(d) Is any other financial assistance being applied to this project'? E] Yes Z No
If "Yes", please list. (4uac1rnicnt 4_ )
(3) ANNUAL FUNDING i_imi-r. Large project funding (generally, loans in excess of $10 million) may be provided in
increments pursuant to the initial loan agreement and subsequent am end me tits. Each increment shall have a separate
financing rate as established in the agreement or amendment providing that increment.
(4) INFORMATION ON 1JENS.
(a) Describe, if applicable, all debt obligations having a prior or parity lien on the revenue,' pledged to repay this loan.
(i1ttachment 4N/of) For example; City Name, Florida, Water and Sewer System Revenue Bonds, Series 1996, issued
in the amount of$] 0,000,000, pursuant to Ordinance No, 93-104, as amended and supplemented by Ordinance No. 96-
156,
(b) Using (lie Part V, Schedule of Prior and Pariiv Liens, provide debt service infortnation, if applicable. on each prior
and parity obligation.
Forrit Application I
Incorporated in 62-503.430(1)(a), F.A.C. Page 3 of' 10 Effective Date 4-22-14
(c) For the listed obligations, provide a copy of the ordinance(s), resolution(s), official statenient(s), or pages thereof,
setting forth the definitions, use of proceeds, debt service schedule, pledged revenues, rate covenants, provisions for
issuing additional debt, provisions for bond insurance, and debt rating. (Attachnient P ),
(d) Describe any other notes and loans payable from the revenues pledged to repay this loan. (Attachnient N_).
(5) ACTUAL AND PROJECTED REVENUES,
(a) Complete the Part V, Sc*edule ol'Actual Revenues and Debt Coverage for the past two fiscal years.
(b) Complete the Part V, Schedide of'Projected Revenues• and Debt Coverage, demonstrating the availability of pledged
revenues for loan repayment.
(6) AVAILABILITY OF PLEDGED RI VENUES. All sources must be supported by a written legal opinion,
(Anachment �2) The opinion inust address the following;
(a) Availability of the revenues to repay the loan.
(b) Right to increase rates at which revenues shall be collected to repay the loan.
(c) Subordination of the pledge if'pledged revenues are subject to a prior or parity lien.
(7) LOAN SERVICE FEE, A loan service fee is assessed on each loan. The fee is not part of the loan. The fee along with
interest thereon will be deducted frorn the first available repayments after the filial amendment to the loan agreement.
PART IV — AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION. Provide an authorizing resolution of' the Applicant's governing body or other evidence of
authorization (Attachment #3) for the following:
(a) Pledging revenues to repay the loan.
(b) Designation of the Authorized Representative(s) to file this application, provide assurances, execute the loan
agreement, and represent the Applicant in carrying out responsibilities (including that of requesting loan
disbursements) under the loan agreement.
(2) ASSURANCES. The Applicant agrees to comply with the laws, rules, regulations, policies and conditions relating, to
the loan for this proJea Applicants should seek further information from the Clean Water State Revolving Fund
Program staffas to the applicability of the requirements if the necessity for the assurances is of concern. Specifically,
the Applicant certifies that it has complied, as appropriate, and will comply with the following requirements, as
appropriate, in undertaking the Project:
(a) Assurances for capitalization grant pr(Ijects.
I Complete all facilities for which funding has been provided.
The Archaeological and Historic Preservation Act of 1974, 111- 93-291, and the National Historic Preservation Act of'
1966PL 89-665, as amended, regarding idernification, and protection of'historic properties.
3. The Clean Air Act, 42 U.S.C. 7506(c), which requires conformance with State Air Quality Implementation Plans.
4. The Coastal Zone Managenient Act of 1972, PL 92-583, as amended, which requires assurance of project consistency
with the approved State management program developed under this Act.
5. The Endangered Species Act, 16 U.S.C. 1531, et seq,, which requires that projects avoid disrupting threatened or
endangered species and their- habitats.
C. Executive Order 11593, Protection and Enhancement of the Cultural Environment, regarding preservation, restoration
and maintenance of the historic and cultural environment,
7, Executive Order 11958, Floodplain Management, related to avoiding, to the extent possible, adverse impacts
associated with floodplain occupancy, modification and development whenever there is a practicable alternative,
8. Executive Order 1990, Protection ol'Wetlands, related to avoiding, to the extent possible, adverse impacts associated
with the desti-LICti011 or modification of wetlands and avoiding support of construction in wetlands,
1
9. ]'he Fish and Wildlife Coordination Act, PL 85-624, as amended, which requires that actions to control natural
streams or other water bodies be undertaken to protect fish and wildlife resources and their habitats.
. . .. . . ........_—.a._____. .......... . ...... . .... ..... ..... ..... . . . .............
Form Application I
Incorporated in 62-503.430(1)(a), F.A.C. Page 4 of 10 Effective Date 4-22-14
10. The Safe Drinking Water Act, Section 1424(e), PI, 93-523, as artiencled, regarding protection of underground sources
of drinking water.
11, The Wild and Scenic Rivers Act, PL 90-542, as amended, related to protecting components or potential components
of the national wild and scenic rivers system.
12. The federal statutes relating to nondiscrimination, including: The Civil rights Act of 1964, PI, 88-3,52, which
prohibits discrimination on the basis of race, color or national origin; the Age Discrimination Act, PL 94-135, which
prohibits discrimination on the basis of age; Section 13 of the Federal Water Pollution Control Act, PL 92-500, which
prohibits sex discrimination, the Rehabilitation Act of' 1973, PL 93-112, as aniended, which prohibits discrimination
on the basis of handicaps.
13, Executive Order 11246, Equal Eniploynient Opportunity, which provides for equal opportunity for all qualified
persons.
14, Executive Orders 11625 and 12138, Women's, and Minority Business Enterprise, which require that small, minority,
and women's business and labor surplus areas are used when possible as sources, of'supplies, equipirient, construction
and services.
15. The Coastal Barrier Resources Act, 16 U,S,C. 3501 et seq., regarding protection and conservation of the coastal
barrier resources.
16. The Farmland Protection Policy Act, 7 U.S.C. 4201 et seq., regarding protection of agricultural lands fironi irreversible
loss.
IT The Uniform Relocation and Real Property Acquisition Policies Act of 1970, PL 91-646, which provides for fair and
equitable treatment of persons displaced or whose property is acquired as a result of federal or federally assisted
programs.
18. The Demonstration Cities and Metropolitan Development Act of 1966, PL 89-754, as amended, which requires that
projects be carried out in accordance with area wide planning activities,
19. Section 306 ofthe Clean Air Act, Section 508 of the Clean Water Act and Executive Order 11738, which prohibit
manufacturers, firms, or other enterprises on the `PA's list of Violating Facilities frorn participating in the Project,
20. Executive Order 12549, Debarment and Suspension, which prohibits any award to a party which is debar -red or
suspended or is otherwise excluded from, or ineligible for, participation in federal assistance programs.
21. Minority and Women's Business Enterprise participation in project work using numerical goals, established by the
U.S. Environmental Protection Agency, and to be set forth in the specifications for construction and materials
contracts.
(b) Assurances for other projects,
I Chapter 161, Pat-( 1, F.S., "Beach and Shore Preservation Act" and Pail 111, "Coastal Zone Protection Act of' 1985"
which regulate coastal zone construction and all activities likely it) affect the condition of the, beaches or shore.
2, Chapter 163, Part 11, F.'S.. the "Local Government Comprehensive Planning and Land Development Regulation Act"
which requires units of local government to establish and implement comprehensive planning programs to control
future development.
3. Chapter 186, F,S., State and Regional Planning, which requires conformance of'projects with Regional Plans and the
State Comprehensive Plan.
4. Chapter 253, F.S., "Emergency Archaeological Property Acquisition Act of 1988" which requires protection of
archaeological properties of major statewide significance discovered during construction activities.
5. Chapter 258, Part 111, F,S., which requires protection of components or potential components of the national wild and
scenic rivers system,
6. Chapter 267, F.S,, the "Florida Historical Resources Act" which requires identification, protection, and preservation of
historic properties, archaeological and anthropological sites,
7. Chapter 287, Part 1, F.S., which prohibits parties convicted of public entity crimes or discrimination from participating
in State -assisted prqjects and which requires consideration of the utilization ol"Minority Business Enterprises in State_
assisted projects.
S. Chapter 372. F.S., the Florida Endangered and Threatened Species Act which prohibits the killing or wounding of an
endangered, threatened, or special concern species or intentionally destroying their eggs or nest.
. . ................
Corot Application I
Incorporated in 62-503.430(l)(a), L.A.C. Page 5 of 10 Effective Date 4-22-14
9� Chapter 373, Part IV, F.'S., Florida Water Resources Act of 1972, which requires that activities on surface waters or
Nvetlands avoid adversely affecting: public health, safety, welfare, or property; conservation of fish and wildlife,
including endangered or threatened species or their habitats: navigation or the flow of water- the fishing or recreational
values or marine prod UCtiV i ty, and significant historical and archaeological resources.
Z�
M Chapter 380, Part 1, F.S.. Florida 1'rivironmentaf Land and Water Managerrient Act of 1972 as it pertains to regulation
ol'developments and implementalion of land and water nianagIcrnent policies.
11. Chapter 381, F.S_ Public health, as it pertains to regulation of onsite wastewater SN'Sterns,
11 Chaptet- 403. Part L F.S., Florida Air and Water Pollution C,ontrol which requires protection ofall waters of the state.
13, Chapter 582., 1'.S., Soil and Water Conservation Act which requires confbi-mance with Water Management District's
regulations governing the use, of land and water resources.
14. Governors Executive COrder 95-359, which requires State CICaHM111OUSe review of pro ect planning docutmiltation
and intergovernmental coordination.
1, the undersigned Authorized Representative ofthe Applicant, hereby certify that all information contained herein and in the
attached is true, correct, and complete to the best of my knowledge and belief. I further certify, that I have been duly
authorized to file the application and to provide these assurances.
Signed this 22nd
Authorized Representative
Attachments
Day of
September
2014
David L Greene
..... . . . . .............................
(nanic iYj)ed oi- printeel)
Form Application I
Incorporated in 62-503,430(l)(a), F.A.C. Page 6 of 10 LITfective Date 4-22-14
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS
(EXCLUDING SRF LOANS)
List annual debt service beginning two years before the anticipated loan agreement date and continuing at least
three additional fiscal years. Use additional pages as necessary.
#2
#3
Identify Each
Obligation
N/A No prior liens.
Coverage
%
%
014),
Insured?
Yes No
Yes
No Yes,
No
'notal Debt
Fiscal
Annual Debt Service (Principal
Plus Interest)
rotai
Service Incl.
Year
#1 #2
#3
Debt Service
Coverage
2011
$ S
$
$
2012
$ $
$
$
2013
$ S
$
$
2014
S $
$
S
2015
$ $
$
$
2016
$
$
$
2017
$ $
$
$
2018
$ S
$
S
$
2019
$ S
$
$
$
2020
S $
$
$
$
2021
$ $
$
$
$
2022,
$ $
$
$
$
2023
$ $
$
$
$
2024
$ $
$
$
$
2025
$ $
$
$
$
2026
$ $
$
$
$
2027
$ S
$
S
$
2028
$
$
$
2029
S $
$
$
$
2030
$
$
$
$
2031
$ $
$
$
2032
$ S
$
$
2033
$ $
$
$
$
2034
$ $
$
$
2035
2036
2037
Form Application I
Incorporated in 62-503,430(l)(a), F.A.C. Page 7 of 10 Effective Date 4-22-14
PART V — SUPPLEMENTARV INFORMATION
SCHEDULE OF ACTUAL REVENUES AND DEBTCOVERAGE
(Provide information for the two fiscal years preceding the anticipated date of the SIZE loan ac',reeinent.)
t,
FY 2012
FY 2013
(a) Operating Revenues (Source)
_C."L.iargejor services $4,(101,865 $3,940,736
Miscellaneous 992 0
(b), Interest Income 47
(c) Other Income or Revenue (identify)
M
(d) Total Revenues $4,050,111
. ......... .
(e) Operating Expenses (excluding
interest on debt, depreciation,
and other non-cash items) $2,354,580
(1) Net Revenues [(f) = (d) --. (e)] $1,695,531
(g) Debt Service (including any
25,072
I
$3,965,808
52,371,897
$1,593,911
required coverage) $ 746,791 $ 746,791
(h) Attach audited annual financial report(s), or pages thereof, or other docurnentation necessary to
support the above information, Include any notes or cortiments front the audit reports regarding
compliance with covenants of debt obligations having a prior or parity lien on the revenues pledged for
repayinent of the SRF Loan. (Aftaehnienl. #4)
(i) Attach worksheets reconciling this page with the appropriate financial statements (for example,
backing otit depreciation and interest payments from operating expenses). (Attachment #5)
If the net revenues were not sufficient to satisfy the debt service and coverage requirement, please
explain what corrective action was taken, (Altaehment #N/A)
Form Applicadoti I
Incorporated in 62-503.430(1)(a), F.A.C, Page 8 of 10 Fffective Date 4-22-14
PART V — SUPPLEMENTARY INFORMATION
SCHEDULOF PROJECTED REVENUES AND DEB'F COVERAGE
Begin with the fiscal year preceding first anticipated semiannual loan payment and continuing for at least three
additional years. Attach a separate page for previous State Revolving Fund loans. (Aftuchment #6)
FY 2016 IFY 2017 FY 2018 FY 20,19 IF 2020
(a) Operating Revenue 4,661,000 4,872,500 5,0'92,100 5,323,900 5,566,400
(b) interest Income 36,800 45,200 54,500 72,600 92,500
(c) Other Income or Revenue
(identify)
(d) Total Revenues 4,697,800 4,917,700 5,146,600 5,396,500 5,658,900
(e) Operating E`xpenses (excluding
interest oil debt, depreciation, and
other non-cash items) 3.129,800 3,2441700 3,363,900 3,487,400 3,616,500
(f) Net Revenues (f - d - e) 1,568,000 1,637,000 1,782,700 1,909, 100 2,042,400
(g) Revenue (including coverage)
pledged to debt service, excluding
SRF loans
(h) Revenue (including coverage)
pledged to outstanding SRT` loans 437,300 167,190 334,381 334,381 334,381
(i) Revenue Available for this SRF
L,oan [(i) =: (f) — (g) -- (h)] 1,130,700 1,505,810 1,448.319 1,574,719 1,708,019
. . . .......... . .....
Identify the source of the above information and explain methods used to develop tile projections (Attachment fl7).
Include all explanation of any revenue and expense groA,th or other adjustments; for example, any rate increases,
service growth, inflation a4jusiments, expense adjustments reflecting the cost of operating additional facilities, or other
considerations.
W For construction loans, are the above projections consistent with the accepted financial z Yes No
feasibility information?
If "No", please explain, (Altachtnew 4....._.._..........)
Form Application I
Incorporated in 62-503.430(l)(a), F.A.C. Page 9 of 10 Effective Date 4-22-14
PARTV — SUPPLEMENTARY INFORMATION
LISTOF ATTACI]MEN,rs
LIST OF ATTACHMENTS, This application requires the submittal of Attachments to provide supplemental
information, 'I I lie application is not complete without the completed List ofAtiochments. Please list all
attachments that you are including with this application flonn.
Attachment
Description ofConstruction Activities
Legal Opinion on the Availability of Pledred Revenues
Authorizing Ordinance of the City of Cape Canaveral City Council
Pages fi-oni the Audited Annual Financial Re orfs for FY 12 and FY 13
Expense Reconciliation for Fiscal Year 2012 and Fiscal Year 2013
Previous State revolving Fund Loans
Financial Proiection Information
Additional Contact
2
3
4
5
6
7
8
Number
Form Application I
Iticorporated in 62-503.430(l)(a), F.A.C. Page 10 of'10 Effective Date 4-22-14
Wastewater and Stormwater Improvements
All projects proposed for funding are described in the Facilities Plain, approved on April 8, 2013 and
included in the KEN dated April 8, 2013.
Wastewater Improvements
Oxidation Ditch Reconfiguration: The oxidation ditch was constructed in the mid -1960's and
renovated in the mid -1990's and there is no redundancy for this part of the treatment process. Should
the ditch fail, minimally treated sewage would be discharged directly to the Banana River Aquatic
Preserve. This project will totally rehabiliitate the ditch.
It is anticipated that this project will' be constructed under a single prime contract.
The remaining projects approved in the April 20,13 Facilities Plan are expected to be ready for funding
and construction start in 20,15.
Attachment #2
= 11111 111 iiiiiiij lilpfllpy�l�p
"D
GJARCIANES.F", NX11"'Ns' & WAGRT,.'S'I'i�, P.A.
IN Yie s a/ [-au,
P
I 11 N. Or,mge Avc�, Suite 2000
11.0. Box 2873
Orkindo, Flonda 32902-2873
Plione *)7) 42-5 9566
Fax (407) 425 9i%
September 15, 2014
Mr. 'I"orn Shiflett, P,E.
Program Administrator
State Revolving Fund Program
2600 Blair Stone Road, M.S. 3505
'rallahassee, FL 32399-2400
RE., CITY OF CAPE CANAVERAL
S.R.F. Project H 05051
Dear Sirs:
Aritbony A. Czar ganese
6card Celffied City, County & Local
Governmem
apirgnmcsc„'orlandolaw. not
'fbe undersig,ned law firm is the duly appointed City Attorney for the City of Cape Canaveral,
Florida (the '"City"). In such capacity, we have participated in various proceedings in connection with a
loan front the State of Florida Department of Environmental Protection in an amount approximating
S,2,288,900, plus capitalized interest,, pursuant to the State Revolving Fund For Point Source Water
Pollution Control Loan application, which was approved by the City Council pursuant to Ordinance No,
01-20113 at a duly held public meeting on February 19, 2013 (the "Loan Application"), All terrns, not
otherwise defined herein shall have the meanings ascribed thereto in the [.,,can Agreement, approved by
tirle City Council oil February 19, 2013 (the "Loan Agreement'").
In rendering the opinions set Forth herein, we have examined the proceedings of the City in
connection with the authorization and execution ofthe Loan Application, Loan Agreement, relevant
provisions of the Constitution of tlye State of Florida, the Florida Statutes, the City Charter, and other
provisions of law as we, deemed applicable. We have also made such investiac- tions and have examined
such ordinances, resolutions, certificates; and documents a,; we have deemed relevant and necessary in
connection with the opinions expressed below.
As to questions of fact material to our opinion. we have relied upon representations ofthe City
contained in The certified proceedings of the City Council and other certifications of public officials
furnished to us, without undertaking to verify the same by independent investigation. We have not
undertaken independent audit, examination, investigation or inspection of'such matters and have relied
solely on the facts, estimates and circumstances described in such proccedin(. s and certifications. We
have assumed tile genuineness of' signatures on all documents and insiruments, the authenticity of'
documents submitted as originals and the conforimity to originals ofdocurrients submitted as copies.
Based UP011 the t`61-Cg0irg., WC,11-e of the opinion that as ofthe date of this letter, that:
11. Lauderdale (955.1) 67(1-1079 ® Kissinunee (321),402-0144 a Cocoa (866) 425-9566
Websitc: @ F'mml:
Mr. Torn Shinen
to/ 15/2014
Rkge .2 -
(a) Upon execution by the Department of Environmental Protection and the City, the Loan
Agreement will constitute a special obligation of the City, and the principal and interest payment
thereunder, subject to bankruptcy laws and other laws affecting creditors' rights and to exerciscol'judicial
discretion, will be payable from and secured by alien upon the Pledged Revenues. "Che Loan Aarcernent
and the lien on the Pledged Revenues created thereby will be valid and enforceable in accordance with
their terms, subject to bankruptcy laws and other laws affecting creditors' rights and to the exercise of
judicial discretion, and the lien on the Pledged Revenues will have, been perfected in accordance with
applicable law.
(b) The City has theauthority to increase stormwater and sewer rates to ensure repayment of the
Loan, subject to applicable general and special laws.
(c:) 'rhe Pledged Revenues shall be expressly subject and subordinate to the following prior liens:
Florida Department of Environmental Protection, Loan# CS120825020, secured bl the
Wastewater Enterprise Fund Utility Revenue;
Florida Department of Environmental Protection, LoanCS120825030, Secured by the
Wastewater Enterprise Fund Utility Revenue; and
Florida Department of Environmental Protection, Loan it WW05050, secured by the Wastewater
Enterprise Fund Utility Revenue.
Furthermore, we advise the Stale of Florida that the Loan Agreement and any interest and
principal due to be paid thereunder shall not constitute a general obligation Or general Indebtedness of the
City within the meaning of the Constitution and laws ofTlorida, The Loan Agreement and any interest
and principal due to be paid thereunder shall riot constitute a pledge of the full faith and credit of the City
or as lien upon any property of the City other than as provided in the Loan Agreement and under prior
liens on the Pledged Revenues. Further, we also advise the State of Florida that the State of Florida
not have the right to compel the exercise of any taxing power of the City to pay the Loan Agreement or
the interest and principal due to be paid thereunder, and the Loan Agreement shall be secured solely by
the Pled -ed RCVCIILICS as provided in the Loan Agreement,
The opinions expressed herein are predicated upon present law (and interpretations thereof), facts
and circumstances. and we assurne 'no aff-in-native obligation to update the opinions expressed herein if
such laws (and interpretations thereof), facts or circumstances change after the date hereof.
I
Sincerely,
BROWN, GAI?GANESE, WEISS &-
D'AGRESTA, P.A.
ACrw
("4
Anthony A. Garganese
City Attorney
AAG/
cc: Mr. David Greene, City Manager
FIRM
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CAPE
CANAVERAL, BREVARD COUNTY, FLORIDA, RELATING TO THE
STATE REVOLVING FUND PROGRAM; PURSUANT TO SECTION
2.12(5) OF THE CITY CHARTER AUTHORIZING ONE OR MORE
LOAN APPLICATIONS TO BE FILED WITH THE STATE, OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION IN A TOTAL
AMOUNT NOT TO EXCEED EIGHT MILLION DOLLARS FOR
PURPOSES OF FUNDING CERTAIN WASTEWATER AND
STORMWATER IMPROVEMENT PROJECTS; AUTHORIZING THE
LOAN AGREEMENT(S); ESTABLISHING PLEDGED REVENUES;
DESIGNATING AUTHORIZED REPRESENTATIVES; PROVIDING
ASSURANCES; PROVIDING FOR THE REPEAL OF PRIOR
INCONSISTENT ORDINANCES AND, RESOLUTIONS, SEVERABILITY
AND AN EFFECTIVE DATE.
' WHEREAS, Florida Statutes provide for loans to local government agencies to finance
the construction of water pollution control facilities; and
WHEREAS,Florida Administrative Code rules require authorization to apply for loans;
to establish pledged revenues; to designate an authorized representative; to provide assurances of
compliance with loan program requirements; and to enter into loan agreements; and
WHEREAS, the State Revolving Fund loan priority list designates ProJect Number
WW05050 as eligible for available funding; and
WHEREAS, the City of Cape Canaveral, Florida, intends to enter into a loan agreement
with the Department of Environmental Protection (hereinafter referred to as the "Department")
under the State Revolving Fund for project financing.
NOW, THEREFORE, THE CITY OF CAPE CANAVERAL HEREBY ORDAINS
AS FOLLOWS:
SECTION 1. Recitals.' The foregoing findings are incorporated herein by reference
and made a part hereof.
SECTION 2. Lggal Authorial; The legal authority for borrowing moneys to
construct the projects is established in Chapter 166, Florida Statutes and Section 2.12(5) of the
Cape Canaveral Charter.
SECTION 3. Authorization. The City Council of the City of Cape Canaveral hereby
authorizes City staff, on behalf of the City, to apply for one or more State of Florida revolving
loans for point source water pollution control in the amount of approximately Eight Million
Dollars ($8,000,000.00) to finance the preconstruction activities and construction of certain
wastewater and stormwater improvements (hereinafter "Loan").
City of Cape Canaveral
Ordinance No, 0 1 -2013
Page I of 5
SECTION 4. Establishing! Pledged Revenues. The revenues pledged for the
repayment of the Loan(s) are net sewer and stormwater utility system revenues after payment of
operating and maintenance expenses of the systems and of debt service on any previous SRF
loans of the City.
SECTION 5. Description of Loants) and any Associated Notes. The Loan(s) and
any associated Note(s) shall be dated the date of its execution and delivery, which shall be a date
agreed upon by the City and the Department, subject to the following terms:
(A) Interest Rate. The interest rate shall have a fixed interest rate not to exceed
3.25°,✓+, subject to adjustment Upon the occurrence of certain non or late payment events as
expressly provided in the Loan(s) and any associated Note(s).
(B) Princiol and Interest Pa ment Dates. Principal and interest payments shall be
made in accordance with the terms and conditions approved by the City Manager in the Loan
Application(s).
(C) Form of an Notes. Any Notc(s) required by the lender shall bean form
approved by the City Manager and City Attorney consistent with the terms and conditions of this
Ordinance.
SECTION 6. Desi nation of 011's Lead Authorized ReRresentative. The City
Council of the City of Cape Canaveral hereby designates the City Manager as the City's lead
authorized representative to provide the assurances and commitments required by the loan
application(s).
SECTION 7. Limitation of Rights. With the exception of any rights herein expressly
conferred, nothing expressed or mentioned in or to be implied from this Ordinance or any notes
executed in furtherance of this Ordinance are intended or shall be construed to give to any person
other than the City and the Department any legal or equitable right, remedy or claim under or
with respect to this Ordinance or any covenants, conditions and provisions herein contained; this
Ordinance and all of the covenants, conditions and provisions hereof being intended to be and
being for the: sole and exclusive benefit of the City and the Department.
0
SECTION 8. General Authority. The Mayor, City Manager, Assistant City Manager,
City Attorney, and Finance Director of the City, or any of them, are hereby authorized, in
connection with the Loan(s) and to do all things and to take any and all actions on behalf of the
City; to execute and deliver any notes and documents; to provide disclosures concerning the
City; and to Finalize and close the transactions specified in all such agreements or arrangements
(including any amendments or modifications thereof), including, without limitation, the
execution and delivery of any and all documents and instruments deemed appropriate by any of
such officers, and the making of any appropriate statements, representations, certifications and
confirmations on behalf of the City, and in their respective capacities as, Officers thereof,
necessary, appropriate or convenient to effectuate and expedite the consummation of the
transactions specified herein, and any and all of the covenants, agreements and conditions of the
City of Cape Canaveral
Ordinance No. X11-2013
Page 2 of 5
City; the approval of the City and all corporate power and authority for such actions to be
conclusively evidenced by the execution and delivery thereof by any of such officers,
SECTION 9. Execution and Authentication of Loan(s). The Loan(s), and any
associated note(s), shall be executed in the name of the City by its Mayor and the corporate sea]
of the Issuer or a facsimile thereof shall be affixed thereto or reproduced thereon and attested by
it's City Clerk. The authorized signatures for the Mayor and City Clerk shall be either manual or
in facsimile. Any Loan(s) and associated Note(s) may be signed and sealed on behalf of the
City by such person as at the actual time of the execution of such Loan(s) and associated Note(s)
shall hold the proper office, although at the date of such Loan(s) and associated Note(s) such
person may not have held such office or may not have been so authorized.
SECTION 10. Application of Proceeds. Proceeds received by the City from the
Loan(s) shall be used to pay the costs incurred by the City for the preconstruction activities and
construction of certain wastewater and storinwater improvements authorized by Section 3 of this
Ordinance,
The City Manager shall establish and create funds, and accounts to maintain the loan
proceeds and such funds and accounts shall be considered trust funds for the purpose provided
herein for such funds. Moneys on deposit to the credit of all funds and accounts, created
hereunder may be invested pursuant to applicable law and the City's written investment policy
and shall mature not later than the dates on which such moneys shall be needed to make
payments in the manner herein provided. The securities so purchased as an investment of funds
shall be deemed at all times to be a pan of the account from which the said investment was
withdrawn, and the interest accruing thereon and any profit realized therefrom shall be credited
to such fund or account, except as expressly provided in this Ordinance, and any loss resulting
from such investment shall likewise be charged to said fund or account,
SECTION 11. Payment of Principal and Interest• Limited Obligation. The City
promises that it will promptly pay the principal of and interest on the Loan(s) at the place, on the
dates and in the manner provided therein according to the true intent and meaning, hereof and
thereof. The Loan(s) shall be secured by a pledge of and lien upon the Pledged Revenues in the
manner and to the extent described herein. The Loan(s) shall not be or constitute general
obligations or indebtedness of the City as a "bond" within the meaning of Article VII, Section
12 of the Constitution of Florida, but shall be payable solely from the Pledged Revenues in
accordance with the terms hereof No holder of the Loan(s) issued hereunder shall ever have the
right to compel the exercise of any ad valorem taxing power or the use of ad valorem tax
revenues to pay such Loan(s), or be entitled to payment of such Loan(s) from any funds of the
City except from the Pledged Revenues as described herein.
SECTION 12. Tax Covenant, The City covenants to the Department of the proceeds
provided for in this Ordinance that the City will not make any use of the proceeds received
hereunder any time during the term of the Loan(s) which, if such use had been reasonably
expected on the date the Loan(s) was issued, would have caused such Loan(s) to be an "arbitrage
bond" within the meaning of the Internal Revenue Code. The City will comply with the
requirements of the Internal Revenue Code and any valid and applicable rules and regulations
City of Cape Canaveral
Ordinance No.01-2013
Page 3 of 5
promulgated thereunder necessary to ensure, to the extent applicable, the exclusion of interest on
the Loan(s) from the gross income of the holders of the Loan(s) thereof for purposes of federal
income taxation.
SECTION 13. Repeal of Prior Inconsistent Ordinances and Resolutions. All prior
inconsistent ordinances and resolutions adopted by the City Council, or parts of prior ordinances
and resolutions in conflict herewith, are hereby repealed to the extent of the conflict.
SECTION 14. Not Incorporated into Code. This Ordinance shall not he
incorporated into the Cape Canaveral City Code.
SECTION 15. Severabiliji- If any section, subsection, sentence,, clause, phrase, word
or provision of this Ordinance is for any reason held invalid or unconstitutional by any court of
competent jurisdiction, whether for substantive, procedural, or any other reason, such portion
shall be deemed a separate, distinct and independent provision, and such holding shall not affect
the validity of the remaining portions of'this Ordinance,
SECTION 16. Effective Date. This Ordinance shall become effective immediately
upon adoption by the City Council of the City of Cape Canaveral, Florida.
ADOPTED by the City Council of the City of Cape Canaveral, Florida, this
19thday of Febru
2013.
ATTEST:
A n g A
eA-Appers&.,�
Assisc5ty
tUO'C,0 Mi Clerk
Approved as to Form and legal sufficiency
for the City of Cape: Canaveral only:
Anthony A. Garganese, City Attorney
Rocky Randels,"Mayor
Name
For Against
John Bond
Motion
Bob Hoog
Second
Buzz Petsos X
Rocky Randels X—r
Betty Walsh X -
City of Cape Canaveral
Ordinance No. 01-2013
Pag,e 4 of 5
First Reading: January 15, 2013
Legal Ad Published: January 24, 2013
Second Reading: February 19, 2013
City of Cape Canaveral
Jr «« No .G 1 -20 13
h#3+5
Attachment #4
Pages of the City of Cape Canaveral's Comprehensive Annual Financial Report (CAFR) supporting PART
V — SUPPLEMENTARY INFORMATION for Fiscal Year 2012 and Fiscal Year 2013.
n
PROPRILMARY FUNDS
FOR THE YEAR ENDED SEPrEMMER 30,2012
Operating revenues
C'[Yfor s,ales services:
Se ges
Stmmawaarges
y�,n�,y, ter/yeh
us
Total operating revenues
a :Iny via r.,
Ir -n :w,r
fir• ti l� iwram ;,
. re. r. a yarn ,•... r. n , : w. a.». a:..
w
Mcomme befare capital contr'ibudons and transfers
Transfers out
mages in not assets
Total not assets, beginning of year
Total net assets, end of year
91Wwess- Activid- - Eute r* Funds
Sewer )wand
Stormwater bund
Total
$ 3,601.,830
$ -
S 3„601,830
-
400,035
400,035
(9,291)
5'7
9992
�} �'/'y+^� +^935
.74L1wViyf V'
"fVL�F%,717+
�r� �ry�
'"i44�'Lr0� 85
1,235,167
95,505
1,330,672
149,692
11216
150,908
716,313
156,687
873,000
824,961
83,095
908'056
2,926,133
336,503
3,262,636'
676,632 63,589 740„221
33,216
14,038
47,2,54
(3,903)
-
(3,903)
(76,309)
-
(76,309)
(9,291)
-
MI)
(56,281)
14,038
(42,249)
620;345
77,627
697,972
(125,004
(125,002)
495,34.5'
77,627
572,972
13„343„903
2,238,061
15,591,964
13,839,248F �S 2,315_688 S 16,154,93'6
The 'acc:ompanyidmg nates to financial stMements
are an integrai past of this statement.
-46-
Cash 1lom from noncapital financing activities
Transf= out
Net cash used in naticapital financing activities
. 4 '. M M :'4 : •. YYIYw.. M' :. M+T Y.1 Y Y'% Y � Y,..
a A' mM M;YY Mo.77; F V7 MM
A r : 4 :«e
C4ish Bows from investing activities
kftrest received
Net decrease in cash and cash equivalents
Cash and cash equivalents, beginning of year
'ash and cash equivalents, end ofyear
Reconciliation of operating income to net
cash 'provided by operating activities
Operating e
Adjustment toreconcile operating income to
net cash provided by operaft activities:
l;lgmxiation
Decrem (increase) in oert n assets:.
A=ouuts receivable
inventories and prepaid items
Increase (decrease) in certain liabilities -
Compensated o absences payable
Accounts payable and accrued liabilities
Not OPM liability
Net cash provided by operating activities
Sewer Fund StormwfterFud TOW
S 3,571,143 $ 364,603 $ 3,935,7
46
(808,243) (252,726) (1,060,969)
- (1,M,96� 86,83 _ 1 0 M)
1468,938 25,041 1,493579
0251009) 125
(125,000) - -(125,000)
(567,197)
- (567,197)
(82,088)
(82,088)
12,341
- 12,341
(844,344)
(1.15,937) (961,281)
(1,481,288) (115,937) (11M225)
33,216 14«038 47,2'54
(104,134) (76,858) (180,992)
2,2319,679 791,350 3,031,029
S 2135,545 g71492' 2,850,037
S 676,632 $ 63,589 S 740,221
924,961 83,095 908,056
(31,622) (35,489) (67,111)
56,837 1,460 58,797
(61,355) 8,522 (52.833)
925 (96,783) (95,858)
2,560147 2,707
�$ 1468,938 S 25 041 $1,493,979
The ac oompenying nates to financial statements
are an hitegral part of this statement
-47-
CITY OF CAPE CANAVERAL, FLORIDA
STAT EMENT OF REVFNIUES, EXPENSES, AND CHANCES IN FUND NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SKPTFMBER 30, 2013
Operating revenues
Charges for sales and services -
Sewer c1larges
Storrawater charges
Total operating revenues
Operating expenses
Operating and maintenance:
Personal services
Materials and supplies
Other operating and maintenance
Depreciation
Total operating expenses
Operating income
Nonoperating revenues (expenses)
Investment earnings
Loss on sale or disposal of assets
Interest expense
Amortization of loan costs
'i'otal nonoperating revenues (expenses)
Income before capital contributions and transfers
Transfers out
Changes in net position
Total net position, beginning of year
Total net position, end of year
Business-qu Activities - Enterprise Funds
Wastewater Fund Stormwater Fund Total
3,363,595 S
-
$ 3,363,595
-
577,141
577,141
3,367595
577,141
3,940,736
1,123,956
181,339
1,305,295
135,339
774
136,113
781,002
149,487
930,489
8,44,058
96,034
940,092
2,884,355
427,634
3,311,989
479,240
149,507
628,747
15,613
9,459
25,,072
6,367
(547)
5,820
('59,464)
-
(59,464)
(9,291)
-
09,2491
(46,775)
8,912
(37,863)
432,465
158,419
590,884
(125,000)
-
(125,000)
307,465
158,419
465,884
13,,839,248
2,315,688
16,154,936
�4,14�6,71 3
2,474,107
16,620,820.
The accompanying notes to financial statements
are an integral part of dais statement.
-50-
CITY OF CAPE CANAVERAL, FLORIDA
STAT EMENT CASH FLOWS
PROPRIETARY FUNDS
FOR THE VEAR ENDEDSFPTEMBER 30, 2013
Cash flows from operating activities
Cash received from customers
Cash paid to suppliers
Cash paid to employees
Net cash provided by operating activities
Cash flows from noncapital financing activities
Trans tin out
Net cash used in noncapital financing activities
Cash flows from capital and related financing activities
Principal payments on capital debt
Proceeds from issuance of debi
Interest paid
Proceeds front the sale of assets
Acquisition and construction of capital assets
Net cash used in capital and related
financing activities
Cash flows from investing activities
Interest received
Net increase in cash and cash equivalents
Cash and cash equivalents beginning of year
Cash and cash equivalents,end of year
Reconciliation of operating income to net
cash provided by operating activities
Operating income
Adjustment to, reconcile operating income to
net cash provided by operating activities:
Depreciation
Decrease (increase) in certain. asscls:
Accounts receivable
Inventories and prepaid items
Increase (ticerease) in certain liabilities.
Compensated absences payable
Accounts payable mid accrued liabilities
Net OPIEB liability
Net cash provided by operating activities
Business-typeAct ivilies - Enterprise Funds
Wastewater Fund Stormwater Fund Total
$ 3,363,814 578,111 3,941,925
(853,466) (1.51,123) (1,004,589)
(1j 112,425) 1771091 (1,28�,9
, 534)
1,397,923 249,879 1,647',802
(125,000) Q25,000)
(125,000) (125,000)
(584,647)
- (584,647)
208,225
127,622 335,847
(64,736)
- (64,736)
12,800
12,800
(548,544)
(361,734) (910,278)
(976,902) (234,112) 1,21 1,0'14)
15,613 9,459 25,072
311,634 25,226 336,860
2,135,545 714,492 2,850,03,7
$ 2,447,179 $ 739, 118 =L==3
=,=l 86,897
$ 479,240 $ 149,507 $ 628,747
844,058 96,034 940,092
219 970 1,189
2,603 - 2,603
8,859 3,916 12,775
60,272 (862) 59,410
2,672 314 2,986
1;3979923= 249,879 $ 1,647,80
The accompanying notes to financial statement-,
are an integral part of this statement.
-51
Attachment H5
Expense Reconciliation for Fiscal Year 2012 and Fiscal Year 2013
Overating,Expense
FY20112 FY2013
Operating Expenses per CAFR $3,262,636 $3,311,989
Depreciation Expense (908,056) --iW,092)
Net Cash Expense 7j
$2 — 97
=a.ff
war-MIT"ITMITO
Previous State Revolving Loans
The City's two previous State Revolving Fund Loans are summarized below:
State Revolving Fund Loan No. CS120825020 with semiannual payments of $251,693.75 secured by the
Wastewater Enterprise Fund Utility Revenue.
FY2012 FY2013
Principal 442,133 Principal 455,841
Interest 61,255 Interest 47,546
State Revolving Fund Loan No. CS120825030 with semiannual payments of $72,997.88 secured by the
Wastewater Enterprise Fund Utility Revenue.
FY2012 FY2013
Principal 125,064 Principal 130,719
Interest 20,932 Interest 15,277
Attachment #7
Financial Projection Information
Financial Projections were based on the Fiscal Year 2013 Adopted City Budget and a Sewer System Rate
Study prepared in February 2012 by Raftel is Financial Consultants. The Sewer revenues have an automatic
increase of 5% through FY2016. The Storrawater Rate was increased 6&67% in Fiscal Year 2012.
Reclaimed Water is a new flat rate service charge effective in Fiscal Year 2013. An inflation rate of 2.5%
was estimated for expenses.
Additional Contact
Don Ben-yh.ill, P.E.
The Berryhill Group, LLC
1528 Wood ate Way
Tallahassee, Florida 32308