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ITEM: A. RESOLUTION NO. R2025-78 APPROVAL BY WELLINGTON, FLORIDA'S COUNCIL OF A RESOLUTION RELATING TO THE STATE REVOLVING FUND LOAN PROGRAM AUTHORIZING AMENDMENT 1; AN EFFECTIVE DATE; AND FOR OTHER PURPOSES
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL, RELATING TO THE STATE REVOLVING FUND LOAN PROGRAM AUTHORIZING AMENDMENT 1; PROVIDING FOR CONFLICTS, SEVERABILITY, AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
B. RESOLUTION NO. R2025-77 APPROVAL BY WELLINGTON, FLORIDA'S COUNCIL OF A RESOLUTION APPROPRIATING THE LOAN AMOUNT IN EXCESS OF THE BUDGETED AMOUNT TO THE UTILITY METER REPLACEMENT PROJECT.
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL AMENDING THE FISCAL YEAR 2025-2026 UTILITY BUDGET FOR THE STATE REVOLVLING LOAN PROGRAM TOTAL FUNDING FOR THE WELLINGTON UTILITY METER REPLACEMENT PROJECT IN THE AMOUNT OF $1,714,910 (PROJECT FUNDING OF $11,485,206 PLUS LOAN SERVICE FEES OF $229,704, LESS PREVIOUSLY BUDGETED AMOUNTS); AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of:
1) Resolution No. R2025-78 relating to the State Revolving Fund Loan Program authorizing Amendment 1; providing assurances; providing for conflicts and severability, an effective date, and for other purposes.
2) Resolution No. R2025-77 amending the Fiscal Year 2025-2026 Utility Budget for the State Revolving Loan Program Funding for the Wellington Utility Meter Replacement Project in the amount of $1,714,910 (project funding of $11,485,206 plus loan service fees of $229,704, less previously budgeted amounts); and providing an effective date.
EXPLANATION: The Village of Wellington Utility Department received notice of funding approval at their February 12, 2025 meeting for the Advanced Metering Information System Project from the Florida FDEP State Revolving Fund (SRF). The funding total approved at this time is $7,293,990 (Project Funding of $6,914,402 Plus $241,300 Capitalized Interest plus a loan service fee of $138,288). The term of the loan is 20 years and the financing rate ...
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