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HomeMy WebLinkAbout2234 ResolutionCity of Pasco: inn-Charles D Ki Attest: ury, Mayor Approved as to Form: RESOLUTION NO. A RESOLUTION approving Loan Amendment No 2 to the State Revolving Loan Fund Agreement L9400013 in the amount of $23,700,000 00 WHEREAS, the City Council previously approved an SRF loan agreement on May 16, 1994 and Amendment No 1 on August 21, 1995, and WHEREAS, the Washington State Department of Ecology (DOE) has offered to increase the loan amount from $15,355,558 00 to $23,700,000 00, and WHEREAS, the City is in need of said loan funds in order to complete the Waste Water Treatment Plant construction project and the Road 44 and Road 68 interceptors, and WHEREAS, the City meets the State criteria for hardship and the City is entitled to financial relief or assistance from DOE under this program, and WHEREAS, the City staff has recommended to the Council that it approve the loan agreement, now, therefore, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON DO RESOLVE AS FOLLOWS: 1. That loan Amendment No 2 to the State Revolving Fund (SRF) Loan Agreement L9400013 between the Washington State Department of Ecology and the City of Pasco is hereby approved and the Mayor is authorized to sign all documents necessary for the amendment Passed by the City Council of the City of Pasco, at a special meeting this 12th day of February, 1996 Catherine D Seaman Leland B Kerr, City Attorney Deputy City Clerk LOAN AMENDMENT NO. 2 TO ECOLOGY LOAN AGREEMENT NO. L9400013 BETWEEN THE STATE OF WASHINGTON DEPARTMENT OF ECOLOGY AND THE CITY OF PASCO PURPOSE: To amend the above-referenced loan agreement between the Department of Ecology, (DEPARTMENT) and the city of Pasco (RECIPIENT), for the RECIPIENT'S Wastewater Facilities Project. WHEREAS THE RECIPIENT has applied for and been awarded a FY 96 State Revolving Fund (SRF] loan in an amount not to exceed $8,344,442 to continue construction of Phase I elements of their Wastewater Facilities Project; IT IS, THEREFORE, MUTUALLY AGREED that the loan agreement is amended as follows: I. OVERALL TERMS The amount of $8,344,442 from the FY 96 SRF award will be combined with the SRF awards from FY 94 and FY 95 which will increase the SRF LOAN AMOUNT from $15,355,558 to $23,700,000. Subject to EXHIBIT A - NUMBER 37, HARDSHIP EVALUATION as stated in Amendment Number 1 to this loan agreement, the terms will remain twenty years at 3.5% interest. II. PROJECT DESCRIPTION shall be modified as follows: PROJECT PURPOSE AND OBJECTIVES shall be amended to read: The project shall consist of the following: Labor ---- Materials Design Elements Equipment for the construction of: 1. New headworks building with screening and grit removal. 2. New trickling filter pumping station. 3. Rehabilitation of existing trickling filter. 4. Conversion of existing secondary clarifier to intermediate clarifier. 5. New intermediate sludge pumping station. 6. Conversion of existing primary clarifier to two primary clarifiers. 7. New primary sludge pumping station. 8. Power service to new and existing plant facilities; miscellaneous gas, sludge, potable water, non-potable water, storm drainage, drains, sewers, hot water, overflowk piping. 1 AMENDMENT NO. 2 SRF LOAN AGREEMENT L9400013 WITH THE CITY OF PASCO 9. New operations building and laboratory. 10. Conversion of existing operations structure and addition of maintenance/repair shop. 11. Power service to new and existing plant facilities. 12. Miscellaneous gas, sludge, potable water, nonpotable water, storm drainage, drains, sewers, hot water, overflow piping. 13. Pumping station rehabilitation, replacement or modifications at 9th and Washington, Pearl Street and Navy Base to accommodate existing flows per DEPARTMENT criteria, meet current safety and electrical code requirements, and provide backup power supply. 14. Road 68 Interceptor including larger diameter pipeline serving existing developed area now on septic tank. All design and construction activities under this project will comply with the provisions of 173-240 WAC [Submission of Plans and Reports for Construction of Wastewater Facilities], the most recent version of the State of Washington Criteria for Sewerage Works Design, and all other applicable local, state, and federal requirements, laws, and regulations. III. ESTIMATED COST OF PROJECT is changed to the following: MAJOR PROJECT ELEMENTS* TOTAL PROJECT COST TOTAL ELIGIBLE COST TOTAL MAXIMUM ELIGIBLE COST A. Administration Expenses[City] $550,000 $290,000 $260,000 B. Engineering $6,296,000 $4,774,000 $4,475,000 C. Construction: [Includes WSST] Pumping Stations $1,687,000 $1,687,000 $1,687,000 Intercept Sewers $7,590,000 $5,940,000 $4,528,000 Wastewater Treatment [Sec] $15,397,000 $14,697,000 $12,197,000 Construction Contingency $550,000 $550,000 $0 Change Orders @ 5% of C. TEC $553,000 $553,000 $553,000 Subtotal $25,777,000 $23,427,000 $18,965,000 Total $32,623,000 $28,491,000 $23,700,000 *Major Project Elements include eligible and noneligible costs. Interim interest on loan funds will add $1,500,000 to Total Project Costs. A total of $1,300,000 is expected to accumulated on SRF funds and $200,000 on local funds. 2 MICHAEL T. LLEWELYN PROGRAM MANAGER WATER QUALITY PROGRAM DATE HARLES D. ILBURY MAYOR 0? DATE AMENDMENT NO. 2 SRF LOAN AGREEMENT L9400013 WITH THE CITY OF PASCO IV. SOURCE AND TYPE OF FUNDS FOR THE PROJECT shall be changed as follows: SOURCE AMOUNT SRF LOAN FY 94 $3,802779 SRF LOAN FY 95 $11,552,779 SRF LOAN FY 96 $8,344,442 CCWF GRANT FY 96 $2,500,000 RECIPIENT SHARE $6,423,000 TOTAL $32,623,000 EXHIBIT D. - ESTIMATED LOAN REPAYMENT SCHEDULE shall be replaced with the revised Attachment A. FURTHER, this amendment shall be effective upon the date of signature by the Water Quality Program Manager of the DEPARTMENT. Except as expressly provided by this amendment, all other terms and conditions of the original loan agreement and all amendments thereto remain in full force and effect. IN WITNESS WHEREOF: the parties have executed this amendment. STATE OF WASHINGTON CITY OF PASCO DEPARTMENT OF ECOLOGY APPROVED AS TO FORM ONLY ASSISTANT ATTORNEY GENERAL 3 01/17/96 CITY OF PASCO Loan Amount $ 23,700,000 Term of Loan. 39 Amortization Method- Normal, 360 PMT Due Date Payment Amount 1 01-01-99 858,340.23 2 07-01-99 858,340.23 1999 totals 1,716,680.46 00 Loan Date 01-01-1998 Annual Interest Rate: 3.500 % D/Y Interest Compounded. Semi-Annual Interest Principal Balance 836,758.13 21,582.10 23,678,417 90 414,372.31 443,967 92 23,234,449 98 1,251,130.44 465,550 02 3 01-01-00 858,340 23 406,602.87 451,737.36 22,78-2,712.62 4 07-01-00 858,340 23 398,697.47 459,642.76 22,323,069.86 2000 totals 1,716,680.46 805,300.34 911,380 12 5 01-01-01 858,340.23 390,653.72 467,686.51 21,855,383.35 6 07-01-01 858,340 23 382,469 21 475,871.02 21,379,512.33 2001 totals 1,716,680.46 773,122.93 943,557 53 7 01-01-02 858,340 23 374,141.47 484,198.76 20,895,313 57 8 07-01-02 858,340.23 365,667.99 492,672.24 20,402,641 33 2002 totals 1,716,680.46 739,809 46 976,871.00 9 01-01-03 858,340.23 357,046 22 501,294.01 19,901,347.32 10 07-01-03 858,340.23 348,273.58 510,066.65 19,391,280 67 2003 totals 1,716,680.46 705,319.80 1,011,360.66 11 01-01-04 858,340.23 339,347.41 518,992.82 18,872,287 85 12 07-01-04 858,340.23 330,265.04 528,075.19 18,344,212 66 2004 totals 1,716,680.46 669,612.45 1,047,068.01 13 01-01-05 858,340.23 321,023 72 537,316.51 17,806,896 15 14 07-01-05 858,340.23 311,620.68 546,719.55 17,260,176.60 2005 totals 1,716,680.46 632,644 40 1,084,036.06 15 01-01-06 858,340 23 302,053 09 556,287.14 16,703,889 46 16 07-01-06 858,340.23 292,318 07 566,022.16 16,137,867 30 2006 totals 1,716,680.46 594,371.16 1,122,309.30 17 01-01-07 858,340.23 282,412.68 575,927.55 15,561,939 75 18 07-01-07 858,340.23 272,333.95 586,006.28 14,975,933 47 THIS IS AN ESTIMATED REPAYMENT SCHEDULE PER AMENDMENT #2 FOR L9400013 Page 1 oi/11/96 PMT Due Date Payment Amount Interest Principal Balance 2007 totals 1,716,680.46 554,746.63 1,161,933.83 19 01-01-08 858,340 23 262,078.84 596,261.39 14,379,672.08 20 07-01-08 858,340.23 251,644.26 606,695.97 13,772,976.11 2008 totals 1,716,680 46 513,723.10 1,202,957.36 21 01-01-09 858,340 23 241,027.08 617,313.15 13,155,662.96 22 07-01-09 858,340.23 230,224 10 628,116.13 12,527,546.83 2009 totals 1,716,680 46 471,251 18 1,245,429 28 23 01-01-10 858,340.23 219,232.07 639,108 16 11,888,438.67 24 07-01-10 858,340.23 208,047.68 650,292.55 11,238,146.12 2010 totals 1,716,680 46 427,279.75 1,289,400.71 25 01-01-11 858,340 23 196,667 56 661,672.67 10,576,473.45 26 07-01-11 858,340.23 185,088.29 673,251.94 9,903,221.51 2011 totals 1,716,680.46 381,755.85 1,334,924.61 27 01-01-12 858,340.23 173,306 38 685,033 85 9,218,187.66 28 07-01-12 858,340 23 161,318 28 697,021.95 8,521,165.71 2012 totals 1,716,680.46 334,624.66 1,382,055.80 29 01-01-13 858,340.23 149,120.40 709,219.83 7,811,945 88 30 07-01-13 858,340.23 136,709.05 721,631.18 7,090,314 70 2013 totals 1,716,680.46 285,829.45 1,430,851 01 31 01-01-14 858,340 23 124,080 51 734,259.72 6,356,054 98 32 07-01-14 858,340 23 111,230.96 747,109.27 5,608,945 71 2014-totals - 1,716,680.46 235,311.47 1,481,368.99 33 01-01-15 858,340.23 98,156 55 760,183.68 4,848,762 03 34 07-01-15 858,340.23 84,853.34 773,486.89 4,075,275 14 2015 totals 1,716,680.46 183,009 89 1,533,670.57 35 01-01-16 858,340.23 71,317 31 787,022.92 3,288,252 22 36 07-01-16 858,340 23 57,544 41 800,795 82 2,487,456 40 2016 totals 1,716,680 46 128,861.72 1,587,818 74 37 01-01-17 858,340 23 43,530.49 814,809.74 1,672,646 66 38 07-01-17 858,340 23 29,271 32 829,068.91 843,577 75 THIS IS AN ESTIMATED REPAYMENT SCHEDULE PER AMENDMENT #2 FOR L9400013 Page 2 oill 7y96 PMT Due Date Payment Amount Interest Principal Balance 2017 totals 1,716,680.46 72,801.81 1,643,878.65 39 01-01-18 858,340.36 14,762.61 843,577 75 0.00 2018 totals 858,340 36 14,762.61 843,577.75 Grand totals $ 33,475,269.10 $ 9,775,269 10 $ 23,700,000 00 THIS IS AN ESTIMATED REPAYMENT SCHEDULE PER AMENDMENT #2 FOR L9400013 Page 3