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
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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
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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
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