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Home My WebLink AboutEDB 22.23.04 Reimbursement Resolution 2023.04 EXECUTIVE SUMMARY AGENDA ITEM: Proposed Clay County Utility Authority Resolution No. 2022/2023-04 Date: January 12, 2023 BACKGROUND: In accordance with approved budgetary guidelines the Board of Supervisors' has authorized the Clay County Authority Staff capital expenditures of$153,678,494.66 to be funded from available funds on hand and bond or bank financing. Currently all capital expenditures have been purchased with cash on hand. The reimbursement resolution will allow the staff to proceed with current year expenditures while reserving the right to reimburse itself from future debt issuances. The approval of the reimbursement resolution does not authorize the authority to issue debt. Before any debt is issued, staff will bring forward all necessary documentation for Board of Supervisor approval. as aai RECOMMENDATION: a; co o Staff respectfully recommends Board of Supervisor approval the reimbursement resolution no 2022/2023-04 r E to allow Staff and the Board of Supervisors to ability to reimbursement the Authority current and future years capital expenditures with future debt issuances. ce ATTACHMENTS: 1. Clay County Utility Authority Resolution NO. 2022/2023-04 2. Description of Projects //JW(Final) CLAY COUNTY UTILITY AUTHORITY RESOLUTION NO. 2022/2023-04 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CLAY COUNTY UTILITY AUTHORITY EXPRESSING THE AUTHORITY'S INTENTION TO BE REIMBURSED FROM THE PROCEEDS OF TAX- EXEMPT OBLIGATIONS FOR CERTAIN CAPITAL EXPENDITURES TO BE PAID BY THE AUTHORITY PRIOR TO THE ISSUANCE OF SUCH OBLIGATIONS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Clay County Utility Authority (the "Issuer") has incurred or expects to incur capital expenditures aggregating approximately $155,000,000 in relation to the acquisition, construction, and equipping of certain capital improvements to its existing water and wastewater facilities for the projects described in Exhibit A hereto; and WHEREAS, funds for the Projects will be provided on an interim basis from existing cash resources,interfund and short-term loans to temporarily pay for the cost of the Projects of the Issuer (the "Temporary Advances"); and WHEREAS,pursuant to the budgetary and financial policies and practices of the Issuer, the Temporary Advances are not available to fund the Projects on a long-term basis; and WHEREAS, it is reasonably expected that the Projects will be financed on a long term basis with the proceeds of tax-exempt obligations (the "Tax-Exempt Obligations") to be issued by the Issuer under applicable laws of the State of Florida; and WHEREAS, the Issuer has determined that it is in its best interests to reimburse itself for such costs from proceeds from one or a combination of short-term notes or tax- exempt debt, and to reimburse itself for costs incurred with respect to the Projects prior to the issuance of the Tax-Exempt Obligations; and WHEREAS, except for architectural, engineering and similar preliminary expenditures, this Resolution is being adopted prior to or within 60 days after payment of the capital expenditure to be reimbursed; NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE ISSUER: Section 1. The Issuer hereby declares official intent for the purposes of Section 1.150-2 of the Treasury Regulations, as may be amended from time to time, as follows: it is reasonably expected that (a) Temporary Advances for the Projects will be reimbursed, in whole or in part, from the proceeds of the Tax Exempt Obligations; (b) the principal amount of the Tax-Exempt Obligations are not expected to exceed $200 million in aggregate for all Projects (which amount includes the capital expenditures described in Exhibit A, plus an allowance for financing costs, reserve funds and original issue discount); (c) such reimbursement from the proceeds of the Tax-Exempt Obligations for a Project shall occur within 18 months following the later of(i) the date the capital expenditure to be reimbursed was paid, or (ii) the date on which the applicable Project is placed in service, but no later than three years after the date of such capital expenditure for the Project; and (d) the authorization and terms of the Tax-Exempt Obligations shall be subject and pursuant to subsequent action and approval by the Issuer. Section 2. The Executive Director or any person designated for such purposes by the Board of Supervisors is hereby authorized to take such actions as may be necessary to carry out the purposes of this Resolution. Section 3. This Resolution shall take effect immediately upon its adoption. PASSED, APPROVED AND ADOPTED, this 17th day of January, 2023. (OFFICIAL SEAL) CLAY COUNTY UTILITY AUTHORITY Wendell Davis, Chairman Board of Supervisors ATTEST: Janice Loudermilk, Secretary Board of Supervisors Page 1 of 3 Exhibit "A" CLAY COUNTY UTILITY AUTHORITY Description of Projects Estimated Job Capital Number Job Description Costs CAPITAL PROJECTS 100 Departmental Capital 2,191,050.14 755 Upgrade Lift station 9-Meadowbrook 101,922.26 967 Knight Boxx/Old Jennings Force Main Extension 159,114.95 02519RR Rehab SP WW Clarifer#1/under drain 1-2 1,549,176.20 20021RR Ridgecrest WTP -Replace Softstart&Crossline Starters with VFD's 2,011,228.00 21002RR New Lift Station Generators: 172, 165, 151, 142, 163, 124 57,822.13 2101 ORR Fleming Island Reg. WWTP -2nd BCR Plant, Two Tanks 6,070,000.00 21014RR Fleming WRF Clarifier No. 1 Upgrade 868,499.86 21016RR Lift Station#2 -Upgrade 2,035,000.00 21019RR Ridaught WWTP Upgrades (Install Micro-screen, Grit Removal Equipment, and 2,887,000.00 21022RR Lift Station#3 Foxbay Upgrade 886,000.00 21028RR Meadowbrook Well Rehab 366,895.00 21029RR Meadowbrook WTP Upgrades - (GST#3 repair, Transfer switch, GST#2 roof rf 497,308.45 21031RR Gravity Sewer Lining 1,300,594.25 22005RR Oakleaf WTP Well No. 2 75,145.08 22007RR Ridaught WTP - Phase I GST Upgrades 54,103.26 22008RR Lift Station#4 Upgrades 106,400.00 22009RR Lift Station#62 and#67 -Rehabilitation 320,000.00 Fleming Oaks WTP Electrical Upgrades &Hydro Tank 190,000.00 Keystone Heights High School WM relocation 143,000.00 Keystone Heights - Lakeside Street/Hilltop Street Water Main Rehabilitation 237,600.00 Pace Island WTP: Electrical&Hydro Tank Upgrades (Replace Hydrotank Tank 220,000.00 Fleming island WRF electrical upgrades/Vault upgrades 296,171.00 Miller WRF Electrical Upgrades 125,005.00 Spencers WTP - Ground Storage &High Service Pump 565,000.00 Sandridge Road widening from Henley to CR 209 80,000.00 Upgrade Lift Stations 11, 41, 69, 51 542,000.00 Upgrade Lift Station 56 125,000.00 Lift Station Bypass Pump 200,000.00 SCADA System 760,048.00 WTP Ground Storage Tanks: add Handrails 576,000.00 Water Plant Meters Retrofits 108,000.00 Manhole Rehab 150,000.00 FH and Gate Valve replacement 105,000.00 Potable and Reclaimed Water Meter and backflow device replacement 761,250.00 00983WP Meadow Lake WTP-New Ground Storage Tank and Electrical Service upgrade 3,149,124.00 Page 2 of 3 Exhibit "A" CLAY COUNTY UTILITY AUTHORITY Description of Projects Estimated Job Capital Number Job Description Costs CAPITAL PROJECTS 01119WL Henley Road 12" WM Loop - Sandridge to Small Lake 106,000.00 02419WL North Middleburg Water& Sewer Extension and Interconnection(Water Interco 603,000.00 03018WP Saratoga Springs WTP -Phase I 9,198,967.00 03118RP Saratoga Springs RWP - Phase I 4,607,033.00 03319WL Middleburg Water and Sewer Relocations 602,241.10 03419WL Saratoga Springs Offsite Main Extensions 2,785,000.00 20003SP Mid Clay WWTP - Phase II Plant Expansion 7,250,000.00 20004SP Fleming Island Reg. WWTP -#3 BTU Installation, Design 6,520,000.00 20011SL 2019-054 Doctors Lake Restoration Project 1,883,333.00 21001AD CCUA Storage Building and Site Improvements 3,913,316.00 21013AD CCUA Administrative Building Phase I 4,125,089.00 Not Started CCUA Administrative Building Phase II 350,000.00 21004WL Aquarius Concourse Relocation Utility Relocations 2,143,637.00 21020WL Swimming Penn Creek WM Interconnect 1,297,800.00 21023WL Ravines to Henly Road Water Main Extension 1,243,000.00 21026WP Governor's Park WTP Design and Build 5,125,000.00 21030WP Peters Creek WTP 2nd GST& 3rd Well 490,000.00 22003SP Peters Creek New Regional WRF 42,760,192.00 22010AD CCUA North Campus Driveway 287,000.00 22012WL LAMPA E/W Interconnect#1 -Water Lines 247,500.00 22013SL LAMPA E/W Interconnect#1 - Wwtr-Reuse 495,000.00 22014WL LAMPA E/W Interconnect#2 -Water Lines 165,000.00 22015SL LAMPA E/W Interconnect#2 - Wwtr- Reuse 330,000.00 22016WL LAMPA N/S Interconnect#1 -Water Lines 305,250.00 22017SL LAMPA N/S Interconnect#2 Wwtr&Reuse 610,500.00 22018WL LAMPA N/S Interconnect#2 Water Lines 181,500.00 22019SL LAMPA N/S Interconnect#2 Wwtr&Reuse 363,000.00 22021 WL Emalyn Place 3 Single Family Units 17,000.00 22022SP Peter's Creek WWTP -Land,property development&infrastructure cost 3,000,000.00 23002SL Wwtr Service 633 Simmons Trail 10,000.00 Sandridge Parallel Sewer FM(PS#110 to RVZ Park via Creekview Tr. —5,000 I 1,000,000.00 Reinhold Projects E/W interconnect#1 (W,WW&Reclaimed Mains from FCE 3,000,000.00 Reinhold Projects E/W interconnect #2 (W, WW&Reclaimed Mains along FC 2,000,000.00 Reinhold Projects N/S interconnect#1 Saratoga WM to West of 1st Coast Expre; 3,700,000.00 FDOT 447180-1: US 17 from Eagle Harbor to Doctors Inlet Bridge 310,000.00 CR-220 at Old Hard Rd. Intersection 410,000.00 Page 3 of 3 Exhibit"A" CLAY COUNTY UTILITY AUTHORITY Description of Projects Estimated Job Capital Number Job Description Costs CAPITAL PROJECTS Tanglewood Neighborhood Water Main Relocations 85,000.00 Habitat Drive Water Main Relocations 265,000.00 22022RR CR 218 widening from Pine Tree Lane to Cosmos 675,000.00 CR 220 widening Baxley to Henley Rd 250,000.00 CR 220 widening from Henley to Knightbox 150,000.00 CR 315 widening -Utility Relocation (design FY 23 construct FY 24) 922,000.00 CR220 Quadrant Intersection 578,000.00 College Drive RRR 200,000.00 Infill Projects 1,361,678.98 Water System Interconnects - Misc 675,000.00 Longbay Rd. Master Pump Station and Force Main 200,000.00 20022WL Purified Water Pilot Study 4,769,000.00 to Irrigation CUP 200,000.00 Public Access Reuse Storage 2,042,000.00 TOTAL ESTIMATED PROJECT COSTS 153,678,494.66