HomeMy WebLinkAboutResolution_10-25_7/10/2025 RESOLUTION 10-25
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, CORRECTING A TYPOGRAPHICAL ERROR ON
PRIOR RESOLUTION NO. 20-24 RELATING TO THE STATE REVOLVING
FUND LOAN PROGRAM; MAKING FINDINGS; AUTHORIZING THE LOAN
APPLICATION; AUTHORIZING THE LOAN AGREEMENT; ESTABLISHING
PLEDGED REVENUES; DESIGNATING AUTHORIZED REPRESENTATIVES;
PROVIDING ASSURANCES; PROVIDING FOR CONFLICTS, SEVERABILITY,
AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
WHEREAS, Florida Statutes provide for loans to local government agencies to finance
the construction of water 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 a loan agreement; and
WHEREAS, the Village Previously approved a State Revolving Fund loan application for
Project No. DW50271; and
WHEREAS; the previous resolution contained a typographical error referring to the
incorrect project number "DW502701" and DEP has requested the Village correct the error.
NOW,THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, FLORIDA, THAT:
SECTION I. The foregoing findings are incorporated herein by reference and made a part hereof.
SECTION II. The Village of Tequesta, Florida, is authorized to apply for a loan to finance Project
No. DW50271.
SECTION III. The revenues pledged for the repayment of the loan are net water system revenues
after payment of debt service on the Village's Promissory Note, Bank of America, Series 2008.
SECTION IV. The Village Manager is hereby designated as the authorized representative to
provide the assurances and commitments required by the loan application.
SECTION V. The Mayor of Tequesta is hereby designated as the authorized representative to
execute the loan agreement, which will become a binding obligation in accordance with its terms
when signed by both parties. The Mayor is authorized to represent the Village in carrying out the
Village's responsibilities under the loan agreement. The Mayor is authorized to delegate
responsibility to appropriate Village staff to carry out technical, financial, and administrative
activities associated with the loan agreement.
SECTION VI. The legal authority for borrowing moneys to construct this Project is section 166.111
Florida Statutes.
SECTION VII. All resolutions or part of Resolutions in conflict with any of the provisions of this
Resolution are hereby repealed.
SECTION VIII. If any section or portion of a section of this Resolution proves to be invalid,
unlawful, or unconstitutional, it shall not be held to invalidate or impair the validity, force, or effect
of any other section or part of this Resolution.
SECTION IX. This Resolution shall become effective immediately upon its passage and adoption.
RESOLUTION DATE
10-25 07/10/25
MOTION Vice-Mayor Rick Sartory SECOND Council Member Laurie Brandon
FOR AGAINST ABSENT CONFLICT
Mayor Molly Young F✓ ❑ F ❑
Vice-Mayor Rick Sartory 0✓ ❑
Council Member Laurie Brandon ❑✓ ❑
Council Member Patrick Painter F✓ ❑ ❑
Council Member Jayson E. French ✓❑ ❑ ❑
The Mayor thereupon declared the Resolution duly passed and adopted.
MAYOR OF TEQUESTA:
Molly Young
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ATTEST: ':INCORPORATED:'
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Lori McWilliams, MMC
Village Clerk