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Agenda Workshop 02-12-02 CITY COMMISSION CITY OF DELRAY BEACH, FLORIDA SPECIAL/WORKSHOP - TUESDAY, FEBRUARY 12, 2002 6:00 P.M. FIRST FLOOR CONFERENCE ROOM 1993 2001 The City will furnish appropriate auxiliary aids and services where necessary to afford an mchvidual with a disability an equal opportumty to participate in and enloy the benefits of a sermce, program or acfvity conducted by the Cxty. Contact Doug Randolph at 243-7127 (voice) or 243-7199 (TDD), 24 hours prior to the program or actimty in order for the City to reasonably accommodate your request. Adaptive listening devices are available for meetings m the Commission Chambers. SPECIAL MEETING AGENDA RESOLUTION NO. 11-02: Consider approval of Resolution No. 11-02 authorizing the City of Delray Beach to issue Revenue Bonds not to exceed $22,000,000 for the purpose of financing the cost of land acquisition with respect to Atlantic H~gh School, the City's Beach Renourishment Program, and parking facility anprovements at the Delray Beach Library with SunTrust Bank. SOLID WASTE AUTHORITY INTERLOCAL AGREEMENT/TEMPORARY USE PERMIT: Consider approval of a new lease agreement between the City and the Solid Waste Authority of Palm Beach County for the SWA's temporary use of the Pubhc Works Warehouse located on Lake Ida Road, just east of Congress Avenue, for up to two years. WORKSHOP AGENDA 1. Review the performance measures for FY 2002 and goals for the Tennis Facilities, Municipal Golf Course and Lakeview Golf Course. 2. Comrmssion Comments Please be advised that if a person decides to appeal any decision made by the City Commxssion with respect to any matter considered at this meeting, such person will need to ensure that a verbatnn record includes the testimony and emdence upon which the appeal is based. The Cxty neither provides nor prepares such record. MEMORANDUM To: From: Subject: City Commission .~.~.~ ~T'~ David T. HaI~i~/Manager Proposed $22,000,000 Revenue Line of Credit Resolution No. R 11-02 Date: February 6, 2002 The City Commission approved SunTrust as the lending institution that will provide a Line of Credit to the City. The attached resolution determines the details of the loan transaction which are summarized as follows: Resolution Number 11-02 authorizes the issuance of Revenue Bonds not to exceed $22,000,000; approves the form and execution of a Line of Agreement with SunTrust at a variable rate of 82% of the 30-day Libor plus 53 points (adjusted monthly) for an approximate 3 year term for the purpose of financing the Atlantic High School land acquisition, the Beach Renourishment Program, as well as Library parking facility improvements; designates the borrowing as qualified tax-exempt bonds; and authorizes proper officers of the City to do all things necessary in connection with the issuance. The Finance Department recommends approval of this resolution. I concur with their recommendation. c: R.S. O'Connor, Treasurer SI:'. i RESOLUTION NO. 11-02 A RESOLUTION OF THE CITY COMMISSION OF THE CiTY OF DELRAY BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $22,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF REVENUE BONDS, SERIES 2002, OF THE CITY OF DELRAY BEACH, FLORIDA FOR THE PURPOSE OF FINANCING THE ACQUISITION OF CERTAIN LANDS WITHIN THE CITY OF DELRAY BEACH, FLORIDA; TO FINANCE CERTAIN BEACH RENOURISHMENT PROJECTS; AND TO FINANCE ALL OR A PORTION OF THE COSTS OF ACQUIRING, CONSTRUCTING AND EQUIPPING A MUNICIPAL PARKING FACILITY, AND ALL INCIDENTAL AND NECESSARY COSTS RELATING THERETO; DETERMINING THE NEED FOR A NEGOTIATED SALE OF SUCH BONDS TO SUNTRUST BANK; PROVIDING FOR THE TERMS AND PAYMENT OF SAID REVENUE BONDS, SERIES 2002, AND THE RIGHTS, REMEDIES AND SECURITY OF THE OWNERS THEREOF; MAKING CERTAIN COVENANTS RELATING TO THE ISSUANCE OF SAID REVENUE BONDS, SERIES 2002; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION OF A LINE OF CREDIT AGREEMENT WITH SUNTRUST BANK; AUTHORIZING THE PROPER OFFICERS OF THE CITY TO DO ALL OTHER THINGS DEEMED NECESSARY OR ADVISABLE IN CONNECTION WITH THE ISSUANCE OF SAID BONDS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission of the City of Delray Beach, Florida (the "City Commission'), hereby determines that it is in the best interest of the City of Delray Beach, Florida (the "City"), finance the acquisition of certain lands within the City of Delray Beach, Florida; to finance certain beach renourishment projects; and to finance all or a portion of the costs of acquiring, constructing and equipping a municipal parking facility, as further described on Exhibit C attached hereto, together with all incidental and necessary costs relating thereto (collectively, the "2002 Projects"); and WHEREAS, on December 14, 1999, the City Commission did adopt Resolution No. 76-99 (the "Bond Resolution") authorizing the issuance, from time to time, of revenue bonds (the "Bonds") to financial capital projects in the City; and WHEREAS, any capitalized term used in this Resolution and not otherwise defined, shall have the meaning ascribed to such term in the Bond Resolution; and WHEREAS, pursuant to the Bond Resolution each series of Bonds issued thereunder shall be payable solely from the City's covenant contained in the Bond Resolution to budget and appropriate in each Fiscal Year, by budget amendment if necessary, Non-Ad Valorem Revenues and deposit the same in the Debt Service Fund created and established under the Bond Resolution; and WHEREAS, pursuant to the terms and provisions of the Bond Resolution and this Resolution, the City shall issue a series of Bonds known as "City of Delray Beach, Florida Revenue Bonds, Series 2002" (herein, the "2002 Bonds') to finance the costs of the 2002 Projects, including the costs of issuing such 2002 Bonds; and WHEREAS, the principal amount of the 2002 Bonds authorized under this Resolution shall not exceed $22,000,000; and Resolution No. 11-02 WHEREAS, the 2002 Bonds shall be secured by a pledge of and lien on the Pledged Revenues; and WHEREAS, City staff has previously solicited bids from qualified lending institutions to provide a line of credit or term loan as the vehicle by which the 2002 Bonds are to be issued and the 2002 Projects are to be financed; and WHEREAS, City staff has determined and the City Commission hereby concurs that SunTrust Bank, a banking organization organized under the laws of the State of Georgia with its designated office in West Palm Beach, Florida (herein, the "Bank") has provided the best overall bid to the City; and WHEREAS, the City Commission hereby finds that in light of present market conditions, the aforementioned bid provided by the Bank, the necessity for the funds in calendar year 2002, and other factors described herein, it would be in the best interest of the City to sell the 2002 Bonds to the Bank on a negotiated basis pursuant to the terms and provisions of the Bond Resolution, this Resolution and that certain Line of Credit Agreement dated as of February 1, 2002 (herein, the "Agreement") by and between the City and the Bank in substantially the form attached hereto as Exhibit A. NOW, THEREFORE, be it resolved by the City Commission of the City of Delray Beach, Florida, as follows: ARTICLE I STATUTORY AUTHORITY; FINDINGS AND DEFINITIONS SECTION 1.1 AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of the Charter of the City of Delray Beach, Florida, as amended and supplemented, the Flodda Constitution, Chapter 166, Florida Statutes, as amended and supplemented, and other applicable provisions of law (collectively, the "Act") and the authority provided for in the Bond Resolution. SECTION 1.2. FINDINGS. It is hereby ascertained, determined and declared: (a) That the City hereby authorizes that the 2002 Projects be financed from all or a part of the proceeds derived from the 2002 Bonds issued pursuant to this Resolution, together with all incidental and necessary costs and expenses associated therewith, as more fully set forth in Section 1.2(d) hereof. (b) That it is necessary and in the best economic interest of the City to acquire, construct and implement the 2002 Projects in order to (i) provide the lands necessary to sell to the Palm Beach County School Distdct (the "District") in order for the Distdct to construct a new high school servicing the Delray Beach area; (ii) to provide for necessary beach renourishment in order to protect and enhance the City's beach and coastal resources; and (iii) to provide for a municipal public parking facility. (c) That the 2002 Projects will serve a valid municipal purpose. (d) That the cost of the 2002 Projects shall be deemed to include, but not be limited to, the cost of acquisition, construction, improving, renovating and equipping all or a portion of Resolution No. 11-02 the 2002 Projects, the cost of all real or personal property necessary therefor; administrative expenses; design, engineering and legal expenses; the fees and expenses of Bond Counsel; the fees and reasonable expenses of counsel for the Bank (not exceeding $2,000); expenses for estimates of costs; expenses for plans, specifications, licenses and permits; and such other expenses as may be necessary or incidental to the financing of the 2002 Projects and the issuance of the 2002 Bonds herein authorized. (e) That the principal of and interest on the 2002 Bonds shall be secured solely by the Pledged Revenues and payable from the Non-Ad Valorem Revenues including such pledged revenues provided that the Owner of the 2002 Bonds shall have no lien on the Non-Ad Valorem Revenues until deposited into the Debt Service Fund. The ad valorem taxing power of the City will never be necessary or authorized to pay the principal of and interest on the 2002 Bonds, and the 2002 Bonds issued pursuant to this Resolution shall not constitute a lien upon any other property whatsoever of or in the City. (f) That the City, having previously solicited bids for the sale of the 2002 Bonds, has determined that the best qualified bid for the 2002 Bonds was delivered by the Bank. (g) That the negotiated sale of the 2002 Bonds to the Bank is in the best interest of the City by reason of the nature of and schedule for the completion of the 2002 Projects and the sale of the School Site (as defined below) to the District, the aforementioned solicitation of bids and present market conditions. (h) That the Agreement, in the form attached hereto as Exhibit A, is hereby approved, with such omissions, insertions and variations as may be necessary and desirable, as evidenced by the City's execution thereof and the Mayor (or in his absence, the Vice Mayor) and City Clerk are hereby authorized to execute the same on behalf of the City. (i) That pursuant to the provisions of the Bond Resolution and this Resolution, the City may issue obligations secured by Pledged Revenues. (j) That any capitalized term not otherwise defined herein, shall have the meaning ascribed to such term in the Bond Resolution. SECTION 1.3 DEFINITIONS. That, in addition to terms defined elsewhere in this Resolution, the following terms shall have the following meanings unless the context otherwise clearly requires: ~Bond Counsel" shall mean Greenberg Traudg, P.A. or any other firm of nationally recognized bond counsel selected by the City and acceptable to the Bank. 'Bond Resolution" shall mean Resolution No. 76-99, adopted by the City Commission on December 14, 1999, as amended and supplemented. 'City" shall mean the City of Delray Beach, Florida, a municipal corporation in the County of Palm Beach, State of Florida, and its successors and assigns. "City Commission" shall mean the duly constituted governing body of the City. Resolution No. 11-02 'Code" shall mean the Internal Revenue Code of 1986, as amended, the applicable Treasury Regulations promulgated thereunder and any administrative or judicial interpretations of the same published in a form on which the City may rely as a matter of law. 'District" shall mean the Palm Beach County School District and its successors and assigns. 'Determination of Taxability" shall mean the circumstance of interest paid or payable on the 2002 Bonds becoming includable for federal income tax purposes in the gross income of the Bondholder as a consequence of an act, omission or event by or within the control of the City. A Determination of Taxability will be deemed to have occurred upon (i) the receipt by the City or Bondholder of an original or a copy of an Internal Revenue Service Technical Advice Memorandum or Statutory Notice of Deficiency which holds that any interest payable on the 2002 Bonds is includable in the gross income of the Bondholder for federal income tax purposes; (ii) the issuance of any public or private ruling of the Internal Revenue Service that any interest payable on the 2002 Bonds is includable in the gross income of the Bondholder for federal income tax purposes; or (iii) receipt by the City or Bondholder of an opinion of a Bond Counsel that any interest on the 2002 Bonds has become includable in the gross income of the Bondholder for federal income tax purposes. For all purposes of this definition, a Determination of Taxability will be deemed to occur on the date as of which the interest on the 2002 Bonds is deemed includable in the gross income of the Bondholder for federal income tax purposes. 'Interest Rate" shall mean with respect to the 2002 Bonds, unless the 2002 Bonds bear interest at the Taxable Rate or the interest rate is otherwise adjusted pursuant to Section 3.7 hereof, a variable rate of interest on the 2002 Bonds which, shall be equal to the sum of eighty- two percent (82%) of 30-.day LIBOR, plus fifty-three basis points (.53%). The Interest Rate shall be adjusted monthly and shall be calculated on the basis of a 365/366 day year for actual days elapsed. 'LIBOR" shall mean the London Interbank Offered Rate offered by a specific group of London banks for U.S. dollar deposits of a stated maturity. LIBOR will be that rate as shown on the Telerate System, page 3750. 'Maturity Date" shall mean, with respect to the unpaid principal of and interest on the 2002 Bonds, June 1, 2005. '2002 Bonds" shall mean the not to exceed $22,000,000 aggregate principal amount of Revenue Bonds, Series 2002, authorized by the Bond Resolution and this Resolution. "Owner," 'Bondholder" or 'registered holder" or any similar term shall mean the Bank or, subject to the provisions of Section 2.4 hereof, any successor registered holder of the 2002 Bonds; provided no Bondholder may be the registered owner of less than $1,000,000 in the aggregate principal amount of the 2002 Bonds. "Paying Agent" shall mean the City's Finance Department or, if the City Commission shall so determine by subsequent proceeding, any bank or trust company and any successor bank or trust company appointed by the City to act as Paying Agent hereunder. "Payment Date" shall mean, with respect to interest on the 2002 Bonds, each June 1 and December 1, commencing June 1, 2002 and with respect to scheduled principal on the 2002 Bonds, the Maturity Date, and, prior to the Maturity Date, on any date the principal of the \\wpb-m~l\$ANrOl~OS\3/=833"zvO4\2/'//O2X16787.010~O ,4 Resolution No. 11-02 2002 Bonds is optionally or mandatorily prepaid in whole or in part, provided that if such date is not a Business Day, the payment shall be made on the next succeeding Business Day. uPledged Revenues" shall mean (!) the Non-Ad Valorem Revenues deposited in the Debt Service Fund created and established under the Bond Resolution, (ii) investment income received from the investment of moneys in the Debt Service Fund and accounts established thereunder, other than the escrow deposit trust fund established under a escrow deposit agreement, and (iii) any other moneys deposited in the Debt Service Fund or received by the Paying Agent in connection with the repayment of any Bonds. "Registrar" shall mean the City's Finance Department or, if the City Commission shall so determine by subsequent proceeding, any bank or trust company and any successor bank or trust company appointed by the City to act as Registrar hereunder. "Resolution" shall mean this Resolution as the same may from time to time be amended and supplemented in accordance with the terms hereof. "School Site" means that certain tract of land within the City which will be purchased with a portion of the proceeds of the 2002 Bonds. Such land will only be purchased by the City if the District is obligated pursuant to an interlocal agreement with the City to purchase said land from the City. "Taxable Rate" shall mean one hundred twenty-five percent (125%) of the Interest Rate adjusted monthly as the Interest Rate is adjusted. "Tax Certificate" shall mean the Arbitrage Certificate of the City executed on the date of initial delivery of the 2002 Bonds. Words importing singular number shall include the plural number and vice versa, as the case may be, and words importing persons shall include firms and corporations. SECTION 1.4 RESOLUTION AND BOND RESOLUTION CONSTITUTE CONTRACT. In consideration of the acceptance of the 2002 Bonds authorized to be issued hereunder by those who shall own the same from time to time, this Resolution and the Bond Resolution shall be deemed to be and shall constitute a contract between the City and the Bondholders and the covenants and agreements herein and therein set forth to be performed by said City shall be for the benefit, protection and security of the Bondholders. ARTICLE II AUTHORIZATION, TERMS, EXECUTION AND REGISTRATION OF 2002 BONDS SECTION 2.1 AUTHORIZATION OF 2002 BONDS. Subject and pursuant to the provisions of this Resolution and the Bond Resolution, obligations of the City of Delray Beach, Florida, to be known as URevenue Bonds, Series 2002" are hereby authorized to be issued in the aggregate principal amount of not exceeding Twenty-Two Million Dollars ($22,000,000) for the purpose of financing the costs of the 2002 Projects. Until repaid, the principal amount of the 2002 Bonds will be equal to the principal amounts drawn and received by the City under the Agreement. \\WI:i>In'OI\$^NFOROS\3~82)"ZVO4\2/TA)'Z~1678)'.010900 5 Resolution No. 11-02 SECTION 2.2 DESCRIPTION OF 2002 BONDS. Notwithstanding the form of Bonds set forth in the Bond Resolution, the text of the 2002 Bonds shall be substantially in the form attached hereto as Exhibit B with such omissions, insertions and variations as may be necessary and desirable, as evidenced by the City's execution thereof. The 2002 Bonds (initially issued in one (1) typewritten certificate) shall be dated the date of initial issuance. Unless the interest rate on the 2002 Bonds is adjusted in accordance with Section 3.7 hereof, the 2002 Bonds shall bear interest on the outstanding principal amount of the 2002 Bonds from time to time at the Interest Rate and shall be payable on each Payment Date, commencing June 1, 2002. Unless all or a portion of the Bonds is optionally or mandatorily prepaid in accordance with the terms of this Resolution, the outstanding principal of the 2002 Bonds shall be payable on the Maturity Date. The 2002 Bonds shall be issued in registered form. Principal and interest on the 2002 Bonds shall be payable at the office of the Paying Agent (the designated corporate trust office of the Paying Agent if the City's Finance Department is not the Paying Agent). The 2002 Bonds shall be numbered in such manner as may be prescribed by the Registrar. The 2002 Bonds shall be payable, with respect to interest and principal, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and pdvate debts. Subject to the next succeeding paragraph, the City shall be obligated to prepay a portion of the 2002 Bonds, without penalty or premium, with the net proceeds received by the City in connection with the closing of the sale of the School Site to the District. Unless the Bank provides for an extension, the City shall be required to effect such mandatory prepayment within ten (10) days of the closing of the sale of the School Site to the District. The City may also prepay the 2002 Bonds in whole or in part, at any time or from time to time, without penalty or premium, by paying to the registered holder all or part of the principal amount of the 2002 Bonds, together with the unpaid interest accrued on the amount of principal so prepaid to the date of such prepayment. Each prepayment shall be made on such date and in such principal amount as shall be specified by the City in a written notice delivered to the registered owner not less than two (2) Business Days prior thereto. Notice having been given as aforesaid, the principal amount stated in such notice or the whole thereof, as the case may be, shall become due and payable on the prepayment date stated in such notice; and the amount of principal shall be paid (i) in case the entire unpaid balance of the principal of the 2002 Bonds is to be paid, upon presentation and surrender of the 2002 Bond or 2002 Bonds to the office of the Paying Agent (the designated corporate trust office, if the Paying Agent is not the City's Finance Department), and (ii) in case only part of the unpaid balance of principal of the 2002 Bonds is to be paid, upon presentation of such 2002 Bond or 2002 Bonds at the office of the Paying Agent (the designated corporate trust office, if the Paying Agent is not the City's Finance Department) for notation thereon of the amount of principal then paid or for issuance of a replacement 2002 Bond in the principal amount not redeemed. Notwithstanding the provisions of clause (ii) above, if all of the 2002 Bonds are registered in the name of the Bank, a partial prepayment may be effected by payment to the Bank of the principal, together with unpaid interest accrued thereon, without surrender of the 2002 Bonds. If, on the prepayment date, funds for the payment of the principal amount to be prepaid, together with unpaid interest accrued thereon, shall not have been provided to the Paying Agent, as above provided, the principal amount of the 2002 Bonds shall continue to be outstanding and to bear interest until payment thereof at the Interest Rate. \\w~;~t:~OI\$ANFORD~368202vO4\2/7/02~1/,787.0109006 Resolution No. 11-02 In connection with any prepayment (optional or mandatory) while the 2002 Bonds are owned by the Bank, the City shall give the Bank not more than ten, and not less than two Business Days' written notice of any proposed prepayment specifying the prepayment date and the principal amount of the 2002 Bonds to be so prepaid. SECTION 2.3 EXECUTION OF THE 2002 BONDS. The 2002 Bonds shall be executed in the name of the City by the signature of the Mayor or Vice Mayor of the City and its official seal shall be affixed thereto or imprinted or reproduced thereon and attested by the City Clerk. The signatures of the Mayor or Vice Mayor of the City and City Clerk on the 2002 Bonds may be manual or facsimile signatures. In case any one or more of the officers who shall have signed or sealed the 2002 Bonds shall cease to be such officer of the City before the 2002 Bonds so signed and sealed shall have been actually sold and delivered, such 2002 Bonds may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such 2002 Bonds had not ceased to hold such office. The 2002 Bonds may be signed and sealed on behalf of the City by such person who at the actual time of the execution of the 2002 Bonds shall hold the proper office, although at the date the 2002 Bonds shall be actually delivered such person may not have held such office or may not have been so authodzed. The 2002 Bonds shall bear thereon a certificate of authentication, in the form set forth on Exhibit B attached hereto, executed manually by the Registrar (when the City's Finance Department shall act as Registrar, the certificate of authentication shall be manually executed by the City's Finance Director). Only the 2002 Bonds as shall bear thereon such certificate of authentication shall be entitled to any right or benefit under this Resolution and no 2002 Bonds shall be valid or obligatory for any purpose until such certificate of authentication shall have been duly executed by the Registrar. The certificate of authentication of the Registrar upon the 2002 Bonds executed on behalf of the City shall be conclusive evidence that the 2002 Bonds so authenticated have been duly authenticated and delivered under this Resolution and that the Owner thereof is entitled to the benefits of this Resolution. SECTION 2.4 NEGOTIABILITY~ REGISTRATION AND CANCELLATION. The Registrar shall keep books for the registration of the 2002 Bonds and for the registration of transfers of the 2002 Bonds. The 2002 Bonds shall be transferable at the option of the registered Owner thereof to an institutional holder, but subject to the prior written approval of the City's Director of Finance (which shall not be unreasonably withheld if the intended transferee provides a suitability letter addressed to the City as to the sophistication of the investor) unless such institutional holder is a bank or trust company, or unless such institutional holder, which is not a bank or trust company, certifies in writing to the City prior to the transfer that it is an accredited investor within the meaning of Rule 501 of the Securities Act of 1933, as amended and supplemented, in which case such approval shall not be required, and upon surrender thereof at the office of the Registrar (the designated corporate trust office of the Registrar if the City's Finance Department is not the Registrar) with a written instrument of transfer satisfactory to the Registrar duly executed by the registered Owner or his duly authorized attorney. Upon the transfer of such 2002 Bond, the City shall issue in the name of the transferee a new 2002 Bond. The City, the Paying Agent and the Registrar shall deem and treat the person in whose name the 2002 Bonds shall be registered upon the books kept by the Registrar as the absolute Owner of such 2002 Bonds, whether such 2002 Bonds shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such 2002 Bonds as the same become due and for all other purposes. All such payments so made to any such \\w~I\$ANFORD$\36820'2vO4\2/7/02~16787.010900 7 Resolution No. 11-02 Owner or upon his/her order shall be valid and effectual to satisfy and discharge the liability upon such 2002 Bonds to the extent of the sum or sums so paid, and neither the City, the Paying Agent nor the Registrar shall be affected by any notice to the contrary. In all cases in which the privilege of transferring the 2002 Bonds is exercised, the City shall execute and the Registrar shall authenticate and deliver the 2002 Bonds in accordance with the provisions of this Resolution. The 2002 Bonds surrendered in any such transfers shall forthwith be delivered to the Registrar and canceled by the Registrar in the manner provided in this Section. The City or the Registrar (if not the City's Finance Department) may require the payment of a sum sufficient to pay any tax, fee or other governmental charges required to be paid with respect to such transfer. The 2002 Bonds paid or redeemed, in whole, either at or before maturity, shall be delivered to the Registrar when the payment or redemption is made, and such 2002 Bonds shall thereupon be promptly canceled. The 2002 Bonds so canceled may at any time be destroyed by the Registrar, who shall execute a certificate of destruction in duplicate by the signature of one of its authorized officers describing the 2002 Bonds, and one executed certificate shall be filed with the City and the other executed certificate shall be retained by the Registrar (if not the City's Finance Department). SECTION 2.5 MUTILATED1 DESTROYED, STOLEN OR LOST 2002 Bonds. In case any 2002 Bond shall become mutilated, destroyed, stolen or lost, the City shall execute and the Registrar shall authenticate and deliver a new 2002 Bond of like date, maturity and denomination as the 2002 Bond so mutilated, destroyed, stolen or lost; provided that, in the case of any mutilated 2002 Bond, such mutilated 2002 Bond shall first be surrendered to the City and, in the case of any lost, stolen or destroyed 2002 Bond, there shall first be furnished to the City and the Registrar (if not the City's Finance Department) evidence of such loss, theft, or destruction satisfactory to the City and the Registrar, together with indemnity satisfactory to them. In the event the 2002 Bonds shall be about to mature or have matured, instead of issuing a duplicate 2002 Bond, the City may pay the same without surrender thereof. The City and the Registrar (if not the City's Finance Department) may charge the Owner of such 2002 Bond their reasonable fees and expenses in connection with this transaction. Any 2002 Bonds surrendered for replacement shall be canceled in the same manner as provided in Section 2.4 hereof. Any such duplicate 2002 Bond issued pursuant to this Section shall constitute additional contractual obligations on the part of the City, whether or not the lost, stolen or destroyed 2002 Bond be at any time found by anyone, and such duplicate 2002 Bonds shall be entitled to equal proportionate benefits and rights as to lien on the source and security for payment from Pledged Revenues with the 2002 Bond issued hereunder. SECTION 2.6 CONDITIONS FOR ISSUANCE OF THE 2002 BONDS. Prior to the issuance of the 2002 Bonds, the City shall comply with the following conditions: (a) Deliver to the Bank a fully executed Tax Certificate; and (b) Deliver to the Bank a copy of a completed and executed Form 8038-G to be filed by the City with the Internal Revenue Service; and (c) Deliver to the Bank an opinion of Bond Counsel, satisfactory to the Bank, regarding the due authorization, execution, delivery, validity and enforceability of the 2002 \\wpb-IrvO1\SANFORDS\368202vO4\2/7/O2X16787.0109(X) 8 Resolution No. 11-02 Bonds and the due adoption of this Resolution (enforceability of such instruments may be subject to standard bankruptcy exceptions and the like) and the exclusion of interest on the 2002 Bonds from gross income for federal income tax purposes, that the 2002 Bonds are not specified "private activity bonds" within the meaning of Section 57(a)(5) of the Code and, therefore, the interest on the 2002 Bonds will not be treated as a preference item for purposes of computing the alternative minimum tax imposed by Section 55 of the Code (however, a portion of the interest on the 2002 Bonds owned by corporations may be subject to the federal alternative minimum tax which is based in part on adjusted current earnings); and (d) Deliver to the Bank an opinion of the City Attorney, satisfactory to the Bank, regarding the due authorization, execution, delivery, validity and enforceability of the 2002 Bonds, the Agreement and the due adoption of this Resolution and the Bond Resolution (enforceability may be subject to standard bankruptcy exceptions and the like); and (e) Deliver to the Bank one or more certificates of the City in form satisfactory to the Bank certifying, among other things, that the City is in compliance with the term of the Bond Resolution. Although the 2002 Bonds delivered to the Bank will set forth the notional amount of $22,000,000, the actual principal amount of the 2002 Bonds will, in all cases, be equal to the principal amount of moneys drawn and received under the Agreement and not otherwise previously prepaid. To the extent that the City does not issue all of the $22,000,000 in principal amount of the 2002 Bonds at the time of the initial draw under the Agreement, the City shall provide written notice to the Bank (signed by the City Manager, Finance Director or Treasurer of the City) of the City's intention to draw additional amounts under the Agreement at least two (2) Business Days pdor to the date the City intends to receive the funds. Such notice shall confirm that the City is in compliance with terms and provisions of this Resolution and the Bond Resolution. Such additional amounts drawn under the Agreement shall constitute additional principal amount of 2002 Bonds without any further action required. Notwithstanding anything in this Resolution or the Agreement to the contrary, the City will only be authorized to draw $11,500,000 under the Agreement until the City provides the Bank with a copy of an executed intedocal agreement between the City and the District reflecting the District's obligation to purchase the School Site from the City. SECTION 2.7 INCORPORATION OF TERMS OF BOND RESOLUTION; EXCEPTION Unless otherwise provided in this Resolution, the terms and provisions of the Bond Resolution applicable to the 2002 Bonds are incorporated herein by reference and such terms shall have the same effect as if expressly stated herein. Notwithstanding the foregoing, the Bank hereby consents to the issuance of the Bonds by the City in an initial principal amount of not exceeding $22,000,000, even though additional amounts drawn under the Agreement will from time to time occur dudng the term of the Agreement without the necessity for the City to comply with Section 4.E of Article III of the Bond Resolution each time a draw is made under the Agreement. ARTICLE III COVENANTS, FUNDS AND APPLICATION THEREOF SECTION 3.1 2002 BONDS NOT TO BE INDEBTEDNESS OF THE CITY. The 2002 Bonds shall not be or constitute an indebtedness of the City within the meaning of any constitutional, statutory or other limitation of indebtedness, but shall be secured solely by the Pledged Revenues and payable from Non-Ad Valorem Revenues including the Pledged \\w~b~I~ANFORDS\368202v04\2/7/02~I6787.0109~O 9 Resolution No. 11-02 Revenues. No Bondholder shall ever have the right to compel the exercise of the ad valorem taxing power of the City, or taxation in any form of any real property therein, to pay said 2002 Bonds or the interest thereon. The pledge of the Pledged Revenues will not constitute a lien upon any property of the City including any Non-Ad Valorem Revenues which have not been deposited into the Debt Service Fund. SECTION 3.2 2002 BONDS. The lien of the 2002 Bonds on the Pledged Revenues shall be on parity with any of the Bonds issued pursuant to the requirements of the Bond Resolution except as such requirements have been made not applicable by the last sentence of Section 2.7 hereof. SECTION 3.3 2002 BONDS SECURED BY PLEDGE OF PLEDGED REVENUES, From and after the issuance of any of the 2002 Bonds, and continuing until the payment of all 2002 Bonds as to principal and interest, the Pledged Revenues shall continue to be pledged for the prompt payment of principal of and interest on said 2002 Bonds. SECTION 3.4 COVENANTS OF THE CITY. As long as any of the principal of or interest on any of the 2002 Bonds shall be outstanding and unpaid, or until there shall have been set apart in the Debt Service Fund in accordance with Section 4,H of Article III of the Bond Resolution a sum sufficient to pay, when due, the entire principal of the 2002 Bonds remaining unpaid, together with interest accrued and to accrue thereon, the City covenants with the Bondholders as follows: (a) Tax Covenants Relating to the Internal Revenue Code of 1986, as amended. ? (1) In order to maintain the exclusion from gross income for purposes of federal income taxation of interest on the 2002 Bonds, the City covenants to comply with each requirement of the Code. In furtherance of the covenant contained in the preceding sentence, the City agrees to continually comply with the provisions of the Tax Certificate, as such certificate may be amended from time to time, as a source of guidance for achieving compliance with the Code. (2) The City covenants and agrees with the Bondholders that the City shall not take any action or omit to take any action, which action or omission, if reasonably expected on the date of initial issuance and delivery of the 2002 Bonds, would cause any of the 2002 Bonds to be ~private activity bonds" or ~arbitrage bonds" within the meaning of Sections 141(a) and 148(a), respectively, of the Code. (3) The City shall make any and all payments required to be made to the United States Department of the Treasury in connection with the 2002 Bonds pursuant to Section 148(f) of the Code. (4) Notwithstanding any other provision of this Resolution to the contrary, so long as necessary in order to maintain the exclusion from gross income for purposes of federal income taxation of interest on the 2002 Bonds, the covenants contained in this Section shall survive the payment of the 2002 Bonds and the interest thereon, including any payment or discharge thereof pursuant to Section 4.H of the Bond Resolution. (b) Debt Service Fund. The Debt Service Fund created and established under the Bond Resolution shall constitute a trust fund for the benefit of the Bondholder and shall be held by the City and shall be kept separate and distinct from all other funds of the City, and shall be \\Wl:~3..~'VOI~ANFORD$\368202vO4\2JT~TZ~I6787.010900 10 Resolution No. 11-02 used only for the purpose and in the manner provided in this Resolution. Notwithstanding the provisions of the next preceding sentence, the City may deposit the Pledged Revenues in a single bank account for the City, provided that adequate accounting procedures are maintained to reflect and control the restricted allocations of the funds on deposit therein for the various purposes of such funds. The designation and establishment of the Debt Service Fund in and by the Bond Resolution shall not be construed to require the establishment of any completely independent self-balancing fund, as such term is commonly defined and used in governmental accounting, but rather is intended solely to constitute an allocation of certain revenues of the City for certain purposes and to establish certain priorities for application of such revenues as provided herein. Any excess amounts remaining in the Debt Service Fund after payment has been made on the 2002 Bonds on any Payment Date, may be withdrawn and deposited at the direction of the City to be used for any lawful municipal purpose. Moneys on deposit in the Debt Service Fund may be invested in Permitted Investments as authorized pursuant to the Bond Resolution, provided such investments mature not later than the next succeeding Payment Date. Subject to the terms and provisions of the Code, all income and earnings received from the investment and reinvestment of the moneys on deposit in the Debt Service Fund shall remain on deposit in the Debt Service Fund and be used in the same manner as other moneys on deposit therein. (c) Non-Ad Valorem Revenues. The City will not repeal, amend or modify any resolution or ordinance or take any action within its power to take relating to the imposition and collection of Non-Ad Valorem Revenues in any manner so as to impair or adversely affect in any manner the availability of such Non- Ad Valorem Revenues to pay debt service on the 2002 Bonds as provided herein. (d) Budget and Other Financial Information. The City shall demonstrate in each annual budget that there are sufficient Non-Ad Valorem Revenues to pay the principal of and interest on the 2002 Bonds coming due in such Fiscal Year and to meet the City's other obligations hereunder and under the Bond Resolution. The City shall, upon the request of the Bank, provide the Bank with a copy of its annual budget within thirty (30) days of adoption, a copy of its Comprehensive Annual Financial Report, when available and, upon the request of the Bank, such other financial information regarding the City as the Bank may reasonably request. (e) The City shall comply with the terms of the Bond Resolution. SECTION 3.5 REMEDIES OF BONDHOLDER. Subject to the provisions of Section 4 of the Agreement and the equal dghts of any registered owner of Bonds issued pursuant to the provisions of the Bond Resolution, should the City default in any obligation created by this Resolution, the Bondholders may, in addition to any remedy set forth in this Resolution, either at law or in equity, by suit, action, mandamus or other proceeding in any court of competent jurisdiction, protect and enforce any and all rights under the laws of the State of Florida, or granted and contained in this Resolution, and may enforce and compel the performance of all duties required by this Resolution, or by any applicable statutes to be performed by the City or by any officer thereof. The City hereby agrees with the Bondholders that the filing of any bankruptcy or insolvency under any federal or state law by or against the City which is not dismissed with prejudice within thirty (30) days of such filing shall give the Bondholders the right to exercise any of the remedies provided to them under this Section 3.5, and Section 4. G of Resolution No. 11-02 Article III of the Bond Resolution. Notwithstanding anything in this Section 3.5 to the contrary the Bondholders' right to exercise any remedy permitted hereunder shall be consistent with the rights afforded all registered owners of Bonds issued pursuant to the provisions of the Bond Resolution. SECTION 3.6 APPLICATION OF 2002 BONDS PROCEEDS. The proceeds of the 2002 Bonds shall be used to finance the costs of the 2002 Projects. The City may replace all or a portion of the 2002 Projects for any other capital projects permitted under the Act; provided that Bond Counsel shall first deliver to the City and the Bank an opinion to the effect that such substitution will not adversely affect the exclusion of interest on the 2002 Bonds from gross income for federal income tax purposes and the Bank consents to such substitution. SECTION 3.7 ADJUSTMENTS TO INTEREST RATE. Upon a Determination of Taxability the interest rate on the Bonds shall be converted to the Taxable Rate. If at any time Bond Counsel shall deliver an opinion to the City and the Bank to the effect that the 2002 Bonds are 'qualified tax-exempt obligations" within the meaning of Section 265(b) of the Code, the Interest Rate on the 2002 Bonds will be reduced or the formula to determine the Interest Rate will be modified so that the Bank is provided with the same after tax yield prior to such change. The Bank's good faith recalculation and/or modification will be effective on and after the date the 2002 Bonds are determined to be, in the opinion of Bond Counsel, "qualified tax-exempt obligations~ within the meaning of Section 265(b) of the Code, which date may be the initial date of issuance of the 2002 Bonds. ARTICLE IV MISCELLANEOUS PROVISIONS SECTION 4.1 MODIFICATION OR AMENDMENT. No modification or amendment of this Resolution or of any resolution amendatory thereof or supplemental thereto, may be made without the consent in writing of all of the Bondholders. SECTION 4.2 ADDITIONAL AUTHORIZATION. The Mayor, the Vice-Mayor, the City Manager, the Finance Director, the Treasurer and any other proper official of the City, be and each of them is hereby authorized and directed to execute and deliver any and all documents and instruments and to do and cause to be done any and all acts and things necessary or proper for carrying out the transactions contemplated by this Resolution. SECTION 4.3 SEVERABILITY OF INVALID PROVISIONS. If any one or more of the covenants, agreements or provisions of this Resolution should be held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid, then such covenants, agreements or provisions shall be null and void and shall be deemed separate from the remaining covenants, agreements or provisions, and shall in no way affect the validity of any of the other provisions of this Resolution or of the 2002 Bonds issued hereunder. SECTION 4.4 REPEALER. All resolutions and orders, or parts thereof, in conflict herewith are, to the extent of such conflict, hereby repealed, and this Resolution shall take effect upon its passage in the manner provided by law. In the event of a conflict between the provisions of this Resolution and the Bond Resolution, the provisions of this Resolution shall control. \\wpI:ka'vOI\$ANFORDS\3N~q:)2vO4\2/7/02~I6787.010900 1 2 Resolution No. 1 1-02 SECTION 4.5 upon its adoption. EFFECTIVE DATE. This Resolution shall be effective immediately PASSED AND ADOPTED IN special session on this 12~ day of February, 2002. ATTEST: By:. City Clerk The foregoing resolution and the form of 2002 Bond therein contained are hereby approved by me as to form, language and execution this 12th day of February, 2002. By:, City Attorney THE CITY OF DELRAY BEACH, FLORIDA By: Mayor \\w~h~01 \$ANFORDS\3~8202v04'~,2/7/02~16787.010900 13 Resolution No. 11-02 EXHIBIT A LINE OF CREDIT AGREEMENT Dated as of February 1, 2002 WHEREAS, SunTrust Bank (the 'Bank"), has offered to make a closed-end line of credit (the "Line of Credit') available to the City of Delray Beach, Florida (the 'City"), in the principal amount of not exceeding $22,000,000 under which the City may, from time to time, make drawings; and WHEREAS, the City of Commission of the City of Delray Beach, Florida on December 14, 1994, adopted Resolution No. 76-99 and on February 12, 2002, adopted Resolution No. 11- 02 (collectively, the '2002 Bond Resolution") authorizing the issuance of not exceeding $22,000,000 in aggregate principal amount of City of Delray Beach, Florida Revenue Bonds, Series 2002 (the "2002 Bonds") which 2002 Bonds shall represent the City's obligation to reimburse the Bank for drawings made under the Line of Credit; and WHEREAS, the City and the Bank find it necessary to enter into this Agreement, to acknowledge the terms and provisions of the 2002 Bond Resolution adopted by the City and the extension of the Line of Credit by the Bank. NOW THEREFORE, the City and the Bank hereby agree as follows: 1. That the Bank shall make immediately available to the City, pursuant to the terms and provisions of the 2002 Bond Resolution, the Line of Credit in an aggregate principal amount of not exceeding $22,000,000, which shall be available to the City in one or more drawings prior to June 1, 2005. 2. That the Line of Credit shall expire on June 1, 2005. The outstanding principal amount of the drawing with interest thereon, shall become due and payable in accordance with the terms and provisions of the 2002 Bond Resolution. 3. That the Bank hereby accepts the terms and conditions set forth in the 2002 Bond Resolution applicable to the Line of Credit. 4. The City and the Bank, for mutual consideration, each acknowledged to be received by the other party hereto, mutually and willingly waive the right to a trial by a jury in connection with any and all claims by any party hereto against the other adsing from or in connection with the transactions contemplated by this Agreement or the 2002 Bond Resolution. 5. The Bank represents to the City that it is not purchasing the 2002 Bonds with a view to distributing the 2002 Bonds; provided, however, that the Bank, in its sole discretion, shall be permitted to assign or participate all or a portion of the 2002 Bonds to any other financial institution or accredited investor (subject to the requirements of Section 2.4 of Resolution No. 11-02). \\WpI~vOl\$ANFORD$\~202v04\2/7/02~16787.0109(]O Resolution No. 11-02 SUNTRUST BANK (SEAL) By:, Title: Date: February ,2002 CITY OF DELRAY BEACH, FLORIDA Attest By:. Title: Dated: February ,2002 City Clerk \\~I\$ANFORD$\368202vO4\2/7/02\16787,010900 Resolution No. 11-02 No. R- EXHIBIT B FORM OF 2002 BOND UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF DELRAY BEACH, FLORIDA REVENUE BOND, SERIES 2002 Interest Rate Maturity Date Dated Date Variable December 1, 2004 ,2002 .[NAME OF BANK] REGISTERED OWNER: NOTIONAL PRINCIPAL AMOUNT:--TWENTY-TWO MILLION DOLLARS ($22,000,000.00) ..... KNOW ALL MEN BY THESE PRESENTS, that the City of Delray Beach (the "City") in Palm Beach County, Florida, for value received, hereby promises to pay from the sources herein mentioned, to the Registered Owner specified above or registered assigns on the Maturity Date specified above or earlier upon mandatory or optional prepayment as provided below, upon the presentation and surrender hereof at the City's Finance Department or (if so determined by the City).the designated trust office of the bank or trust company appointed by the City to act as paying agent (said City's Finance Department or such bank or trust company and any bank or trust company becoming successor paying agent being herein called the 'Paying Agent"), the Principal Amount outstanding from time to time based on draws made by the City and received from the Bank pursuant to the terms of the Agreement (as such terms are defined in the hereinafter described Bond Resolution) and not previously prepaid with interest thereon at the applicable interest rate calculated in the manner described in the Bond Resolution calculated on the basis of a 365/366-day year of actual days elapsed, on each Payment Date in the manner specified in the within described Bond Resolution to the registered owner. The Notional Principal Amount reflects the maximum principal amount of principal authorized to be issued under the Bond Resolution. The principal amount and accrued interest thereon is payable in any coin or currency of the United States of America, which, on the date of payment thereof, shall be legal tender for the payment of public and private debts. This Bond is authorized to be issued in a principal amount of up to $22,000,000 under the authority of and in full compliance with the Constitution and statutes of the State of Florida, including, particularly, Chapter 166, Florida Statutes, as amended and supplemented, the Charter of the City of Delray Beach, Florida, as amended and supplemented, and other applicable provisions of law (the UAct"), and Resolution No. 76-99 duly adopted on December 14, 1999 and Resolution No. 11-02 duly adopted on February 12, 2002 (collectively, the 'Bond Resolution"), as such resolutions may be further amended and supplemented from time to time, and is subject to all terms and conditions of said resolution. Any term used in this Bond and not otherwise defined, shall have the meaning ascribed to such term in the Bond Resolution. It is hereby certified and recited that all acts, conditions and things required to exist, to happen, and to be performed, precedent to and in the issuance of this Bond exist, have Resolution No. 11-02 happened and have been performed in regular and due form and time as required by the Laws and Constitution of the State of Florida and the Charter of the City applicable thereto, and that the issuance of this Bond, is in full compliance with all constitutional or statutory limitations or provisions. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Bond Resolution until the certificate of authentication hereon shall have been signed by an authorized officer of the Registrar. This Bond shall bear interest at the Interest Rate, as such rate may be adjusted in accordance with the terms of the Bond Resolution. Upon a Determination of Taxability this Bond shall bear interest at the Taxable Rate. Interest shall be payable on June 1, 2002, and each December 1 and June 1 thereafter and principal on the Bonds, unless prepaid, shall be payable on June 1, 2005 (the final maturity date of this Bond); provided that if such date is not a Business Day, the payment shall be made on the next succeeding Business Day (each a UPayment Date"). The principal of and interest on the Bonds shall be secured solely by the Pledged Revenues (as defined in the Bond Resolution), and payable from the Non-Ad Valorem Revenues (as such term is defined in the Bond Resolution) including the Pledged Revenues, all in the manner provided in the Bond Resolution. Subject to the terms and provisions of the Section 2.2 of Resolution No. 11-02 of the City, if this Bond is owned by the Bank, the City shall be obligated to prepay a portion of this Bond, without penalty or premium, with the net proceeds received by the City in connection with the closing of the sale of the School Site to the District. Unless the Bank provides for an extension, the City shall be required to effect such mandatory prepayment within ten (10) days of the closing of the sale of the School Site to the District. The City may also prepay this Bond in whole or in part, at any time or from time to time, without penalty or premium, by paying to the registered holder all or part of the principal amount of this Bond, together with the unpaid interest accrued on the amount of principal so prepaid to the date of such prepayment. Each prepayment shall be made on such date and in such principal amount as shall be specified by the City in a written notice delivered to the registered owner not less than two (2) Business Days prior thereto. Notice having been given as aforesaid, the principal amount stated in such notice or the whole thereof, as the case may be, shall become due and payable on the prepayment date stated in such notice; and the amount of principal shall be paid (i) in case the entire unpaid balance of the principal of this Bond is to be paid, upon presentation and surrender of such Bond to the office of the Paying Agent (the designated corporate trust office, if the Paying Agent is not the City's Finance Department), and (ii) in case only part of the unpaid balance of principal of this Bond is to be paid, upon presentation of such Bond at the office of the Paying Agent (the designated corporate trust office, if the Paying Agent is not the City's Finance Department) for notation thereon of the amount of principal then paid or for issuance of a replacement Bond in the principal amount not redeemed. Notwithstanding the provisions of clause (ii) above, if all of the Bonds are registered in the name of the Bank, a partial prepayment may be effected by payment to the Bank of the principal, together with unpaid interest accrued thereon, without surrender of this Bond. If, on the prepayment date, funds for the payment of the principal amount to be prepaid, together with unpaid interest accrued thereon, shall not have been provided to the Paying Agent, as above provided, the principal amount of this Bond shall continue to be outstanding and to bear interest until payment thereof at the Interest Rate. In connection with any prepayment (optional or mandatory) while this Bond is owned by the Bank, the City shall give the Bank not more than ten, and not less than two, Business Days' Resolution No. 11-02 written notice of any proposed prepayment specifying the prepayment date and the principal amount of this Bond to be so prepaid. This Bond shall not be and shall not constitute an indebtedness of the City within the meaning of any constitutional, statutory, charter or other limitations of indebtedness but shall be secured solely by the Pledged Revenues and payable from the Non-Ad Valorem Revenues which includes the Pledged Revenues. No Holder of this Bond shall ever have the right to compel the exercise of ad valorem taxing power of the City, or taxation in any form of any real property therein to pay the Bond or the interest thereon. No holder shall have a lien on any Non-Ad Valorem Revenues until deposited into the Debt Service Fund created and established under the Bond Resolution. The terms and provisions of the Bond Resolution are incorporated in this Bond as though such terms and provisions have been set out in full herein. IN WITNESS WHEREOF, the City of Delray Beach, Florida, has caused this Bond to be signed by its Mayor, either manually or with his facsimile signature, and the seal of the City Commission of the City of Delray Beach, Florida, to be affixed hereto or imprinted or reproduced hereon, and attested by the Clerk of the City, either manually or with her facsimile signature, and this Bond to be dated the Dated Date set forth above. (SEAL) CiTY OF DELRAY BEACH, FLORIDA ATTEST: By: By: Clerk of the City of Delray Beach, Florida Mayor \\w~l~'$ANFORD$\368202vO4~JT/02\I6787'010900 Resolution No. 1 1-02 FORM OF CERTIFICATE OF AUTHENTICATION Date of Authentication: February ,2002 This Bond is the Bond delivered pursuant to the within mentioned Resolution. CITY OF DELRAY BEACH Finance Department, as Registrar By:. Authorized Officer \\~q3b-srv01\$ANFORD$\3~8202vO4\2/TJ02\16787.010900 Resolution No. 11-02 ASSIGNMENT FOR VALUE RECEIVED the undersigned sells, assigns and transfers unto (please print or typewrite name, address and tax identification number of assignee) the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints , Attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: Signature Guaranteed: In the presence of: NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within Bond in every particular, without alteration or enlargement, or any change whatever. \\w~l\SANFORDS\368202vO4\2/7/02\16787 010900 Resolution No. 1 1-02 EXHIBIT C 2002 Projects (1) (2) (3) (,4) Land acquisition costs, including all real estate commission, recording fees, survey costs, title costs and related items. The 2002 beach renoudshment project which is a fill placement project designed to protect and enhance the City's beach and coastal resources. The partial funding of the acquisition, construction and equipping of a municipal parking facility. All related, necessary and incidental engineering, design, labor, contingency and costs of issuing 2002 Bonds. \\w~b-~'O1 \$ANFOED$\3~8202vO4\2/7/O2~ $ 6787.010r/00 Resolution No. 11-02 [lTV OF DELRrI'F BEI:I£H CiTY ATTORNEY'S OFFICE 200 NW 1st AVENUE · DELRAY BEACH, FLORIDA 33444 TELEPHONE 561/243-7090 · FACSIMILE 561/278-4755 Writer's Direct L~ne. 561/243-7091 1993 DATE: February 8, 2002 MEMORANDUM TO: FROM: City Commission Brian Shutt, Assistant City Attorney SUBJECT: Interlocal Aqreement with the SWA for Household Hazardous Waste Facility and Approval of Temporary Use Permit This item was first brought before you on February 5, 2002 and direction was given to make certain changes in the agreement. A meeting was held with the SWA regarding the Agreement and the following substantive changes were made: Section 3.04 - the issue of odors was added in the section on nuisances and a time for abatement of nuisances was added. Section 3.06 - time frames for site cleanup were added as well as the requirement that the City must agree to the plan for cleanup. Section 3.08 - this section concerning traffic on Lake Ida Road was added. Section 4.03 - was deleted as it dealt with termination for convenience beyond a 2 year term. A representative from the SWA will be at the Commission meeting to answer questions on this proposed Agreement. Along with this item the SWA is also requesting that the City grant a temporary use permit in conjunction with the approval of Agreement. Please see the attached memo from Jeff Costello, Principal Planner. By copy of this memo to David Harden, our office requests that this item be placed on the February 12, 2002 City Commission agenda. Attachment CC: David Harden, City Manager Barbara Garito, City Clerk Richard Hasko, Director of Env. Services Paul Dorling, Director of P & Z TO: THRU: FROM: SUBJECT: DAVIi~T. HAI:~EN~CITY MANAGER PA4JL DORLING, DIRECTOR OF PLANNING AND ZONING MEETING OF FEBRUARY 5, 2002 CONSIDERATION OF A REQUEST TO ALLOW A TEMPORARY HOUSEHOLD HAZARDOUS WASTE COLLECTION FACILITY AT THE SOUTHWEST CORNER OF LAKE IDA ROAD AND CSX RAILROAD (PUBLIC WORKS WAREHOUSE). BACKGROUND At its meeting of March 15, 2000, the Site Plan Review and Appearance Board (SPRAB) approved the Class II site plan modification for significant upgrades to the Solid Waste Authority Transfer Station on the east side of SW 4th Avenue, south of Linton Boulevard. The improvements include the construction of a new scale house, improvements to the main transfer building, as well as landscape, parking and access improvements. The Solid Waste Authority is ready to begin construction (anticipated March Ist) and is requesting to relocate the Household Hazardous Waste Collection aspect to the Public Works Warehouse on Lake Ida Road, just east of Congress Avenue. The request is to allow the temporary use at this location for up to two years. As this request is not included within the list of allowable temporary uses provided in LDR Section 2.4.6(H)(1), approval of a waiver from the City Commission is required. The subject property is zoned Community Facilities (CF). While "resource recovery facilities" are allowed as a Conditional Use in the CF (Community Facilities), the intent is not to establish a permanent facility, which would be inappropriate for this area. The Inter-local agreement contains strong language regarding the limitations regarding the use of the property so this operation will not become a permanent facility. The use of the property involves various improvements including landscaping along Lake Ida Road, ~nstallation of an awning above the waste storage units, driveway/access improvements, as well as other upgrades specifically listed in the proposed Inter-local Agreement between the City and Solid Waste Authority. Disposal containers will be located inside the storage units. The facility will be unmanned and will be serviced every day for general clean-up and packaging with some materials being removed on a daily basis. Items such as oil, batteries, and anti-freeze will be picked-up by a vendor approximately every two weeks. Trucks associated with this operation will be limited to one 20' long C~ty Commission Documentation Meet~,qg of February 5, 2002 Temporary Household Waste Fac~hty at 1700 Lake Ida Road Page 2 box truck, which will visit the site daily to conduct servicing, and the vendor truck that will visit the site every two weeks. The hours of operation will be 7:00 A.M. to 5:00 P.M. Monday though Saturday. There will be adequate stacking and parking provided on the site. Pursuant to LDR Section 2.4.7(B)(5), prior to granting a waiver, the approving body must make a finding that granting the waiver: (a) Shall not adversely affect the neighboring area; (b) Shall not significantly diminish the provision of public facilities; (c) Shall not create an unsafe situation; and (d) Does not result in the grant of a special privilege in that the same waiver would be granted under similar circumstances on other property for another applicant or owner. The proposed use will be located on a City-owned property, which is in an industrial area. The proposed use will be temporary and will enable the Solid Waste Authority to continue its operations in the area while renovating the existing transfer station site. The Inter-local Agreement will allow the Solid Waste Authority to operate on the site on a temporary basis up to two years, with the condition that the use must be removed from the site 30 days after completion of the proposed improvements at the transfer station site. Thus, the temporary use approval is subject to the conditions of the Inter- local Agreement. A similar waiver has been granted to allow a business to establish a temporary location while the permanent location was under construction, provided the temporary location was properly zoned and was developed in compliance with the Land Development Regulations (Republic Bank/Wachovia). By motion, approve a Temporary Use Permit for the establishment of the Solid Waste Authority Household Hazardous Waste Collection Facility at 1700 Lake Ida Road, based upon positive findings with respect to LDR Section 2.4.7(B)(5), subject to the following condition: 1. That all aspects of this operation comply with the conditions set forth in the Inter- local Agreement, between the City of Delray Beach and the Solid Waste Authority of Palm Beach County. Attachments: Location Map Site Plan - Ji ~X ~ARE ~ ~W / ~ /~/~~' /I/ / / ~ ' LAKE IDA ROAD , I CHURCH I 1~,'5~ / / / / /. - , . I . , I I~o~cs t t ~ / I~ - ~, ' ~ I S I ~/ / I / J ~ = ~ ~ ~ I ~ N ~ PUBLIO WORKS WAREHOUSE CITY ~ O[LRAY B[ACH. FL PLANNINC ~ ZONINC D[PARTM[NT GNEW N£W T~LEPHO~£ ~'L£CTRICA~ OUTL£T MOUN~D ON COLUMN  NEW F£NC[: ~ tMD£ DOUBLE: GATE A~I.O~NG CITY LOT 20 , ' =~ 24 ~ 2J2:233) ZO~;D ~C L / , ' -'~'", .... '-',:' / ,.'~' ' ',:-L N~, S~^ ... ~m~U~C~'--,. ;~..~,,,. '-. / : . .' ' ~ ~' ~ L~ON ~ ~ ~-~-~ / '~ ,~ST~ <w / .' ,'. ~ _ -- ~o ~ ,'; '~.~ '--,./ , - ~ / ,' ~, -. , .~-. ~ ,' ~ . .- ~ ~ / ~- .~ .... ~.~-.:~.,~ ,~ ..- ~.=~< ~-~ .~,/ - ...... TO R~A~ / ~N~ TO ~' ~ H~D~S MA~I~ ST~AG~ ,,/ BU~NG TO BE R~ / , / '~ -), I"~ ~o'x2.* c~ / STYE -- ~U~ A~ ST~A~ UNIT5 TO / ~VA~, ~E~ C-6) ' -~ ~A ~W ~T / ,,' / ~ ~ ~T. C~ P~ ' tU~ ~ ~RI~ C~A , ,~~.~ /t ,~/ // , .-' / ~-:~/ I ~ ~ .~ ~, 4' // / / . / / , ~ / . , / , ,,/ / ~ / >__ ,"/ ,,,': t' , ,,' 1 // - ,' / / '" ........ ........ / / INTERLOCAL AGREEMENT between THE CITY OF DELRAY BEACH and THE SOLID WASTE AUTHORITY OF PALM BEACH COUNTY for THE LOCATION, CONSTRUCTION AND OPERATION OF AN INTERIM HOUSEHOLD HAZARDOUS WASTE COLLECTION FACILITY TABLE OF CONTENTS PAGE ARTICLE 1: GENERAL PROVISIONS Section 1.01 Recitations .................................................................................................... 2 Section Section Section Section Section Section Section 1.02 Purpose ......................................................................................................... 2 1.03 Length of Term and Commencement Date ........................................... 2 1.04 Premises ........................................................................................................ 2 1.05 Acceptance of Premises ........................................................................... 2 1.06 Rent ................................................................................................................ 3 1.07 Assessments .................................................................................................. 3 1.08 Funding ......................................................................................................... 3 ARTICLE 2: ALTERATIONS Section 2.01 General ......................................................................................................... 3 Section 2.02 Section 2.03 Section 2.04 Section 2.05 Section 2.06 Section 2.07 Section 2.08 Design and Construction ........................................................................... 3 Commencement of Work .......................................................................... 5 Payment and Performance Bond ............................................................ 5 Construction Liens ....................................................................................... 5 Completion of Work .................................................................................... 5 Ownership of Alterations ............................................................................ 6 Destruction of Alterations ........................................................................... 6 ARTICLE 3: USE OF PREMISES AND CONDUCT OF BUSINESS Section 3.01 Use of Premises and Hours of Operation ................................................. 6 Section Section Section Section Section Section 3.02 Repairs and Maintenance ......................................................................... 6 3.03 Utilities and Services .................................................................................... 7 3.04 Waste or Nuisance ...................................................................................... 7 3.05 Government Regulations ........................................................................... 7 3.06 Surrender of Premises .................................................................................. 8 3.07 Quiet Enjoyment .......................................................................................... 8 ARTICLE 4: DEFAULT AND TERMINATION Section 4.01 Events of Default .......................................................................................... 9 Section 4.02 Waiver ........................................................................................................... 9 Section 4.03 Termination for Convenience .................................................................... 9 Section 4.04 Termination Upon Completion of Existing Facility ................................... 9 ARTICLE 5: INDEMNIFICATION Section 5.01 General ....................................................................................................... 10 ARTICLE 6: INSURANCE Section 6.01 Self-Insurance ............................................................................................. 10 Section Section Section Section Section 6.02 Insurance Provided by Carrier ................................................................ 10 6.03 Worker's Compensation Insurance ........................................................ 11 6.04 Property Insurance .................................................................................... 11 6.05 Certificate ................................................................................................... 11 6.06 General ....................................................................................................... 11 ARTICLE 7: MISCELLANEOUS Section 7.01 Captions ...................................................................................................... 11 Section Section Section Section Section Section 7.07 Section 7.08 Section 7.09 Section 7.10 Section 7.11 Section 7.12 Section 7.13 Section 7.14 Section 7.15 Section 7.16 Section 7.17 7.02 Severability ................................................................................................. 11 7.03 Entire Agreement ...................................................................................... 12 7.04 Non-Exclusivity of Remedies .................................................................... 12 7.05 Time of Essence ......................................................................................... 12 7.06 Non-Discrimination .................................................................................... 12 Construction ............................................................................................... 12 Broker ........................................................................................................... 12 Assignment ................................................................................................. 13 Default ......................................................................................................... 13 Governing Laws and Venue .................................................................... 13 Binding Effect ............................................................................................. 13 Waiver ......................................................................................................... 13 Incorporation by Reference .................................................................... 13 Notices ........................................................................................................ 13 Effective Date ............................................................................................ 15 Filing ............................................................................................................. 15 EXHIBITS ............................................................................................................................. 17 Exhibit A Exhibit B Sketch of Property Site Plan INTERLOCAL AGREEMENT THIS INTERLOCAL AGREEMENT is made and entered into 2002, by and between the SOLID WASTE AUTHORITY OF PALM BEACH COUNTY (the "SWA"), a dependent special district created pursuant to Chapter 2001-331, Special Acts, Laws of Florida, as amended, whose address for the purposes of this agreement is 7501 North Jog Road, West Palm Beach, Florida, 33412, and the CITY OF DELRAY BEACH, a municipal corporation located in Palm Beach County, Florida, and organized under the Laws of the State of Florida, whose address for the purposes of this agreement is 100 N.W. First Avenue, Delray Beach, Florida, 33444 (the "City"). WITNESSETH: WHEREAS, there exists a need to provide for an interim collection facility for Household Hazardous Waste (hereinafter "HHW") for southern Palm Beach County during the time that SWA's existing HHW collection facility for southern Palm Beach County undergoes certain improvements and renovations; and WHEREAS, the SWA and the City desire to establish an interim HHW collection facility to be designed, constructed, operated and maintained by the SWA, and are willing to cooperate and work together so that all residents of the City and Palm Beach County generally may benefit; and WHEREAS, there is a certain parcel of real property owned by the City and located within its corporate limits at 1700 Lake Ida Road, Delray Beach, Florida, that is suitable for an interim HHW collection facility; and WHEREAS, the SWA has asked the City for authorization to develop and use a portion of this parcel of real property as an interim HHW collection facility to serve and benefit all residents of the City and Palm Beach County, which project, as more specifically described hereinafter, shall be referred to herein as the "Collection Facility"; and WHEREAS, the SWA and the City desire to enter into this Interlocal Agreement to clarify the rights and responsibilities of each party to facilitate development of the Collection Facility; and WHEREAS, Section 163.01, Florida Statutes, permits public agencies to enter into interlocal agreements with each other to jointly exercise any power, privilege, or authority that such agencies share in common and which each might exercise separately; and NOW, THEREFORE, in consideration of the mutual covenants, promises and representations contained herein, the parties hereto agree to the following terms and conditions: ARTICLE 1' GENERAL PROVISIONS Section 1.01 - Recitations The foregoing recitals are true and correct and are incorporated herein as if fully set forth herein. Section 1.02 - Purpose The purpose of this Interlocal Agreement is to provide a mechanism for the SWA and the City to cooperate in the development of the Collection Facility and thereby maintain the availability of an HHW collection facility for use by the public during the time that SWA's existing HHW collection facility must be closed to the public while undergoing certain improvements and renovations. Section 1.03 - Length of Term and Commencement Date The initial term of this Interlocal Agreement shall commence upon the date of full execution by the parties hereto (the "Commencement Date"), and shall extend for a period of two (2) years thereafter, unless terminated earlier according to the provisions of this Interlocal Agreement (the "Term") ' .r,,,,, +~, .... ;"~*;"" "'~ thc ;"~+~"~ + ..... ° ...... ~' ....... * Section 1.04 - Premises The property which the SWA intends to occupy, develop and utilize as the Collection Facility (hereinafter, the "Premises"), comprises the northeasterly quadrant, more or less, of a parcel owned by the City and located within its corporate limits. This parent parcel consists of approximately two (2) acres located at south of Lake Ida Road and west of the CSX railroad right-of-way which sits west of, and approximately parallel to, Interstate-95, legally described as follows: The Easterly 240.49 feet (LESS the Southerly 500 feet) of Lot 20, Block 1, DELRAY SHORES, according to the Plat thereof, as recorded in Plat Book 24, Pages 232-233. A sketch of the described parcel is attached hereto as Exhibit "A", and incorporated herein by reference. Section 1.05 - Acceptance of Premises SWA certifies that SWA has inspected the Premises and accepts same "As Is", in its existing condition as of the Commencement Date of this Interlocal Agreement. No repair work, alterations, or remodeling of the Premises is required to be done by the City as a condition of this Interlocal Agreement. 2 Section 1.06 - Rent The use and occupancy of the Premises by the SWA shall be on a rent free basis. Section 1.07 - Assessments SWA shall pay before delinquency all assessments which may be levied by any governmental authority against SWA's improvements constructed on the Premises during the Term of this Interlocal Agreement, to the extent that SWA is not exempt by law from said assessments. Section 1.08 - Funding This Interlocal Agreement and all obligations of SWA hereunder are subject to and contingent upon annual budgetary funding by the Board of the Solid Waste Authority of Palm Beach County. ARTICLE 2: ALTERATIONS Section 2.0'1 - General SWA agrees to perform all work at its own cost and expense necessary to design, construct, operate and maintain the Collection Facility upon the Premises, including but not limited to costs arising from architectural and engineering work, site work, utilities access and installation, drainage, securing requisite permits and approvals, and physical construction of the Collection Facility. All such work shall comply with all requirements and provisions of this Interlocal Agreement, including but not limited to the Site Plan, attached hereto as Exhibit "B" and incorporated herein by reference in its entirety, which may be modified after the Commencement Date pursuant to the provisions herein. SWA shall utilize its procurement process for all services required for the Collection Facility. Said procurement process shall be consistent with all federal, state and local laws, rules and regulations. City shall have no contractual or other obligation to any person retained by SWA with regard to the Collection Facility. Any dispute, claim, or liability that may arise as a result of SWA's procurement shall be the sole responsibility of SWA and SWA hereby agrees to indemnify, defend and hold the City harmless for same. Nothing contained herein shall be construed as a waiver of sovereign immunity or the statutory limits of liability set forth in Section 768.28, Florida Statutes. Section 2.02 - Desiqn and Construction SWA shall not make any improvements, additions, modifications or alterations to the Premises or the Collection Facility (hereinafter collectively referred to as "Alterations") without the prior written consent of the City in each instance, which shall not be unreasonably withheld. Notwithstanding the foregoing, City shall be entitled to withhold consent for any request which proposes to utilize the Premises for other than an interim 3 HHW Collection Facility. SWA shall submit detailed plans and specifications for all such Alterations to City for City's written approval prior to SWA's commencing work on same. SWA acknowledges and agrees that all Alterations, whether pursuant to this Section or otherwise, are performed and accomplished solely for the benefit and convenience of SWA, and not for the benefit of City, such Alterations nevertheless being subject to each and every provision of this Interlocal Agreement. All work done by SWA in connection with any Alterations, repairs and maintenance on the Premises shall be performed in a good and workmanlike manner, in full compliance with applicable building codes and zoning regulations, and shall be diligently performed to completion according to the plans and specifications therefor. The Alterations shall be in accordance with the plans and specifications set forth in the Site Plan attached hereto as Exhibit "B", and shall include, but not be limited to, the following: 1. Pour concrete pad in southeast corner of parcel for City use; Remove fence from north, west and south edges of existing concrete pad; Asphalt all existing shell rock drive areas around existing concrete pad; 4. Install fencing to separate and secure City maintenance area; Move steel HHW materials storage building from existing HHW collection facility and install on existing concrete pad; 6. Install cabinets on existing concrete pad; 7. Install canopy over cabinets and work area on existing concrete pad; Install safety eyewash/drench shower and water spigot outside the existing City maintenance building; 9. Install electrical outlet outside the existing City maintenance building; 10. Install telephone line outside the existing City maintenance building; 11. Install appropriate signage on road or entrance to the facility; 12. Make buildings aesthetically pleasing, in accordance with the approved Site Plan; 13. Install fence adjacent to storage area on west side of property; 4 14. Install security lighting as needed; and 15. Install additional landscaping along Lake Ida Road as needed. Section 2.03 - Commencement of Work SWA or its representatives shall not commence work upon any Alterations until: City's Representative has approved the final design development plans for such improvements in writing; 2. SWA has provided City a duplicate original of the construction bonds required hereunder, if any; SWA has obtained all applicable building permits and approvals for all work to be performed; and SWA has budgeted and appropriated sufficient funds to pay the cost of such. Section 2.04 - Payment and Performance Bond Prior to commencing work or Alterations upon the Facility Property, SWA shall obtain any required, public construction payment and performance bond required by, and in accordance with, the provisions of Section 255.05, Florida Statutes, in an amount equal to the total cost of construction of such work. Such bond shall name City as an additional obligee thereunder. The form of such bond and the issuer thereof shall be subject to City's prior review and approval, which shall not be unreasonably withheld. Section 2.05 - Construction Liens SWA shall comply with the Construction Lien Law, Florida Statutes Chapter 713, Part I, in the construction of any Alterations to the Premises. In the event that a construction lien is filed against the Facility Property in connection with any work performed by or on behalf of SWA, SWA shall satisfy such claim, or shall transfer same to security, within ten (10) days from the date of filing. In the event that SWA fails to satisfy or transfer such claim within said ten (10) day period, City may do so and thereafter charge SWA, and SWA shall promptly pay to City upon demand all costs incurred by City in connection with the satisfaction or transfer of such claim, including attorney's fees. Further, SWA agrees to indemnify, defend and save City harmless from and against any damage or loss incurred by City as a result of any such construction lien. Nothing contained herein shall be construed as a waiver of sovereign immunity or the statutory limits of liability set forth in Section 768.28, Florida Statutes. Section 2.06 - Completion of Work Upon completion of all Alterations, SWA shall provide City with complete "As Built" plans, for the Collection Facility. For purposes hereof, completion of all Alterations shall mean completion of construction of the improvements and alterations in accordance with 5 approved plans and specifications, issuance of any required certificate of substantial completion or certificate of completion to the SWA by the City's engineer of record, and opening of the Collection Facility to the general public for its intended use as an interim HHW collection facility. In addition, upon completion of all Alterations, SWA shall provide City with a final payment affidavit and release of lien from the SWA's contractor and subcontractors, if any, evidencing payment-in-full of all costs and expenses relating to design and construction of the Collection Facility. Section 2.07 - Ownership of Alterations All improvements and alterations made by SWA shall be and remain the property of SWA during the term of this Interlocal Agreement. Upon expiration or earlier termination of this Interlocal Agreement, title to the same shall vest in accordance with the terms herein. Section 2.08 - Destruction of Alterations In the event any of SWA's Alterations are destroyed, damaged or injured by fire or other casualty during the Term of this Interlocal Agreement, or any extension thereof, the SWA shall commence restoration or removal thereof within ,~,i,+,,f-~m fi~,~,,,, (15) days and shall thereafter diligently pursue the restoration or removal to completion. Notwithstanding the foregoing, in the event of any such casualty, SWA shall have the right, to be exercised in its sole discretion, to terminate this Interlocal Agreement. ARTICLE 3: USE OF PREMISES AND CONDUCT OF BUSINESS Section 3.01 - Use of Premises and Hours of Operation SWA shall utilize the Premises solely and exclusively for the establishment and operation of an interim H HW Collection Facility to be used use by the general public for the Term of this Interlocal Agreement in accordance with the terms herein. SWA warrants that the Collection Facility shall serve a public purpose and be open to and benefit all residents of Palm Beach County and shall be available thereto on the same cost and availability basis as to residents of City. SWA shall not discriminate on the basis of race, color, sex, national origin, age, disability, religion, ancestry, marital status or sexual orientation with respect to use of the Collection Facility, nor shall SWA discriminate as to residency of users in establishment of its fees or other criteria. SWA's access to the Premises and hours of operation on the Premises shall be limited to 7:00 A.M. to 5:00 P.M., Monday through Saturday. SWA shall not use, permit or suffer the use of the Premises for any other business or any disorderly or unlawful purpose. However, in the event of a public auction or other special events held by the City at 1700 Lake Ida Road, SWA may be required to modify its hours or close the HHW Collection Facility for the duration of the event. The City shall endeavor to give SWA 24 hours notice of such auctions or special events. Section 3.02 - Repairs and Maintenance City shall not be obligated or required to conduct any maintenance or make any repairs whatsoever to the Premises. All portions of the Premises and all Alterations 6 constructed on the Premises shall be maintained and kept in good repair and condition by SWA at SWA's sole cost and expense and in accordance with industry standards for such facilities to prevent undue deterioration and to encourage public use. SWA shall, upon request, provide City a copy of SWA's maintenance schedule and/or maintenance records for the Premises. All Alterations and personal property of SWA shall remain the property of the SWA at SWA's sole risk for the Term of this Interlocal Agreement, or any extension or renewal hereof. SWA shall not transfer management of the Collection Facility to a third party without the prior written consent of the City, which shall not be unreasonably withheld. Section 3.03 - Utilities and Services SWA shall make arrangements for the supply to the Premises of any and all utilities and services required by SWA by contracting directly with the utility or other companies furnishing such utilities and services to the Premises. SWA shall be solely responsible for, and promptly pay directly to the utility or other provider of such service, all charges and assessments for water, gas, electricity, trash collection and removal or any other utility used or consumed by the SWA, its agents, employees, licensees and invitees on the Premises. In no event shall City be liable for an interruption or failure in the supply of any such utilities to the Premises. Section 3.04 - Waste or Nuisance SWA shall not commit or suffer to be committed any waste upon the Premises or any nuisance or other act or thing which may result in damage or depreciation of value of the Premises or which may affect the City's fee interest in the Premises. Nuisance shall include any noxious odors attributed to or caused by the HHW facility that can be detected beyond the premises. The City in its sole discretion shall determine what is considered waste or nuisance and such waste or nuisance must be abated within five (5) days of receivinq notification from the City. SWA shall not use or dispose of any contaminants including, but not limited to, hazardous or toxic substances, chemicals or other agents used or produced in SWA's operations, on the Premises or the property generally, in any manner not permitted by law. All refuse is to be removed from the Premises at SWA's sole cost and expense and SWA will keep such refuse in proper containers on the Premises until removed. SWA will keep access to the Premises, the parking areas and other contiguous areas to the Premises free and clear of obstruction. Section 3.05 -Governmental Regulations SWA shall, at SWA's sole cost and expense, comply with all ordinances, laws, statutes and regulations promulgated thereunder of all county, municipal, state, federal and other applicable governmental authorities, now in force, or which may hereafter be in force, pertaining to SWA or its use of the Premises, including the temporary handling and storage of known and unknown hazardous substances. SWA shall be responsible for any impact to the City's permitted Surface Water Management System which is a result of SWA's use of, or activities on, the subject premises. City shall have the right to make reasonable inspections of the Premises to determine SWA's compliance with the same. SWA shall, to the extent permitted by law, indemnify, defend and save City harmless from any and all penalties, fines, costs, expenses, suits, claims, or damages resulting from SWA's failure to 7 perform its obligations in this Section. City shall be entitled to inspect the Premises during the hours set forth in Paragraph 4.01 above to insure that SWA is in compliance with the terms hereof and of this Interlocal Agreement. Section 3.06 - Surrender of Premises Upon termination or expiration of this Interlocal Agreement, and unless the City requests otherwise, SWA shall leave the following Alterations, if installed and completed in accordance with the Site Plan, on the Premises for the City to keep and maintain as City property after SWA vacates: 1.) Paving, 2.) Concrete pad, 3.) Canopy over concrete pad, 4.) In-ground utilities, 5.) Fence, and 6.) Landscaping. The SWA may submit a written list to the City indicating any additional Alterations that the SWA wishes to leave on the Premises for the City to keep and maintain as City property after SWA vacates. Within twenty (20) days of City's receipt of SWA's list, City will submit a written response to SWA indicating which, if any, of the additional items the City agrees will remain on the Premises and become City property after SWA vacates. No later than sixty (60) days after termination or expiration of this Interlocal Agreement, and subject to the foregoing provisions in the foregoing paragraph, SWA, at its sole cost and expense, shall remove its Alterations and personal property from the Premises and shall surrender the Premises to the City in the same condition the Premises were in as of the Commencement Date of this I nterlocal Agreement, reasonable wear and tear excepted. If the SWA fails to remove its Alterations and restore the Premises as set forth above, then all such Alterations shall become the property of the City and in such event, should City so elect, City may restore, at SWA's expense, the Premises to its condition as of the Commencement Date hereof and SWA shall reimburse City for the reasonable cost of such restoration upon or within thirty (30) days after SWA's receipt of a written request therefore, together with supporting documentation and receipts. Within forty-five (45) days prior to the termination or expiration of this Interlocal Agreement, SWA shall obtain and deliver to City, at SWA's sole cost and expense, a Phase II environmental report consisting of a file review, site inspection and chemical analysis of soil samples from the Premises, to be prepared by the SWA or its contractor. The Phase II environmental report shall indicate whether or not there is or has been improperly manufactured, stored or discharged on, or within ten (10) feet of, the Premises and/or any building, equipment and facilities located thereon any of the following: (1) friable asbestos; (ii) urea formaldehyde foam insulation; ((iii) polychlorinated biphenyls; or (iv) any other chemical, material or substance, the handling, storage, transportation, disposal of or exposure to which is prohibited, limited or regulated by any federal, state, county, regional or local authority, including petroleum products ("Hazardous Substances"). In the event that SWA's report reveals that any such Hazardous Substances have been improperly handled, stored, transported or disposed of on the Premises by SWA, its agents, employees, contractors, licensees or invitees, and that such action has contaminated the Premises, SWA shall, at SWA's sole cost and expense, promptly take all actions as are necessary to return the Premises to the conditions existing prior to the introduction of any such Hazardous Substances to the Premises by the SWA, its agents, 8 employees, contractors, licensees or invitees. SWA shall prepare a plan or commence the cleanup of the premises as soon as reasonably possibly but no later than 45 days of the .finding that a contamination has occurred. Time and manner of the completion of the cleanup shall be put forth in a plan approved the City. Section 3.07 - Quiet Enjoyment Upon the observance and performance of all the covenants, terms and conditions on SWA's part to be observed and performed, SWA shall peaceably and quietly hold and enjoy the Premises for the Term hereby demised without hindrance or interruption by the City or any other person or persons lawfully or equitably claiming by, through or under the City, subject, nevertheless, to the terms and conditions of this Interlocal Agreement. Section 3.08 - Traffic If the City determines that the HHW facility causes an unacceptable level of traffic congestion on Lake Ida Road the SWA shall have 5 days, in cooperation with the City to remedy the problem. If construction is required to alleviate the traffic concerns the SWA may have 60 days in which to remedy the problem. If the traffic problem cannot be remedied, the SWA shall cease operations within 30 days. ARTICLE 4: DEFAULT AND TERMINATION Section 4.01 - Events of Default The occurrence of any one or more of the following shall constitute an Event of Default by SWA under this Interlocal Agreement: (i) SWA fails to perform or observe any of the agreements, covenants or conditions contained in this Interlocal Agreement on SWA's part to be performed or observed, and such failure continues for more than sixty (60) days after SWA receives written notice from City; or (ii) SWA vacates or abandons the Premises for a period exceeding thirty(30) days. Any time after an Event of Default occurs, and while the Event of Default continues, City shall have the right to give SWA written notice that City intends to terminate this Interlocal Agreement upon a specified date not less than three (3) days after the date written notice is received by SWA. If the Event of Default is not cured within the three (3) day period, this Interlocal Agreement shall then terminate on the date specified as if that date had been originally fixed as the expiration date of the Term of this Interlocal Agreement. If, however, the Event of Default is cured within the three (3) day period and the City is so notified, this Interlocal Agreement will continue. Section 4.02 - Waiver The City's waiver of any default of any term, condition or covenant herein shall not be a waiver of such term, condition or covenant, or any subsequent default of the same or different term, condition or covenant herein. The City's consent to, or approval of, any act by SWA requiring City's consent or approval hereunder shall not be deemed to waive or render unnecessary City's consent to, or approval of, any subsequent similar act by SWA. 9 Section 4.04 - Termination Upon Completion of Existinq Facility Notwithstanding anything in this Interlocal Agreement to the contrary, this Interlocal Agreement shall terminate thirty (30) days after completion of all planned improvements and renovations to the existing HHW collection facility sufficient to allow SWA to occupy and resume normal operation at said facility. For purposes hereof, completion of all planned improvements and renovations shall mean completion of construction of the improvements and renovations in accordance with approved plans and specifications, issuance of any required certificate of substantial completion or certificate of completion to the SWA by the City's engineer of record, and opening of the existing HHW collection facility to the general public. ARTICLE 5: INDEMNIFICATION Section 5.01 - General It is understood and agreed that SWA is a special district organized under the laws of the state of Florida and is acting in an independent capacity in the performance of its obligations hereunder and not as an agent, servant or employee of City or its Mayor or Commissioners. SWA shall, to the extent permitted by law, indemnify, defend and save harmless the City from and against any and all claims, suits, actions, damages and/or causes of action arising during the Term of this Interlocal Agreement for any personal injury, loss of life, environmental contamination, and/or damage to property sustained in or about the Collection Facility by reason, during or as a result of, the use and occupancy of the Facility Property by the SWA, its agents, employees, licensees, invitees and the general public, and from and against any orders, judgments, and/or decrees which may be entered thereon, and from and against all costs, attorney's fees, expenses and liabilities incurred in and about the defense of any such claim at trial or on appeal. In the event City shall be made a party to any litigation commenced against SWA or by SWA against any third party, then SWA shall protect and hold City harmless and pay all costs and attorney's fees incurred by City in connection with such litigation, and any appeals thereof. Notwithstanding anything herein to the contrary, SWA shall not be obligated to indemnify or hold harmless City for matters which are determined, judicially or otherwise, to be attributable to the negligent or intentional acts or omissions of City. SWA recognizes the broad nature of this indemnification and hold harmless clause, and voluntarily makes this covenant and expressly acknowledges the receipt of good and valuable consideration provided by the City in support hereof in accordance with the laws of the State of Florida. This section shall survive the termination of this agreement. Nothing contained herein shall be construed as a waiver of sovereign immunity or the statutory limits of liability set forth in 10 Section 768.28, Florida Statutes. ARTICLE 6: INSURANCE Section 6.01 - Self-Insurance Without waiving the right to sovereign immunity as provided by Section 768.28, Florida Statutes, SWA reserves the right to be self-insured for General Liability and Automobile Liability under Florida sovereign immunity statutes with coverage limits of $100,000 Per Person and $200,000 Per Occurrence. In the event the Legislature should change the SWA's exposure by Statute above or below the sums insured against, the SWA shall provide insurance to the extent of that exposure. Section 6.02 - Insurance Provided by Carrier In the event SWA maintains third-party Commercial General Liability and Business Auto Liability, in lieu of exclusive reliance on self-insurance under Section 768.28, Florida Statutes, SWA agrees to maintain said insurance policies at limits not less than $500,000 each occurrence. SWA agrees to add the City as an "Additional Insured" with a CG 2026 Additional Insured - Designated Person or Organization endorsement, or similar endorsement, to the Commercial General Liability. The Additional Insured endorsement shall read "Mayor of Delray Beach, a Municipal Corporation of the State of Florida, its Commissioners, Officers, Employees and Agents, cio City of Delray Beach." SWA agrees the Additional Insured endorsement provides coverage on a primary basis. Claims-bill indemnification style coverage shall not be considered third-party liability for the purpose of this paragraph. Section 6.03 - Worker's Compensation Insurance SWA agrees to maintain or to be self-insured for Worker's Compensation & Employer's Liability insurance in accordance with Florida Statute 440. Section 6.04 - Property Insurance SWA agrees to maintain property insurance, which would include builder's risk insurance provided by SWA or SWA's hired contractor, while the Collection Facility is in the course of construction in an amount at least equal to the estimated completed Collection Facility value as well as subsequent modifications of that sum. SWA agrees to endorse City as an "Additional Insured" on the builder's risk. When construction is completed, SWA agrees to maintain all-risk property insurance for adequate limits of coverage on the building(s) and contents based on SWA's replacement cost calculation, or the highest probable maximum loss estimate for the perils of either fire, wind, or flood. SWA agrees to be fully responsible for any deductible, uncovered loss, or self-insured retention. Section 6.05 - Certificate of Insurance When requested by the City, SWA agrees to provide a statement or Certificate of Insurance evidencing insurance, self-insurance and/or sovereign immunity status. Section 6.06 - General 11 Compliance with the foregoing requirements shall not relieve SWA of its liability and obligations under this Interlocal Agreement. SWA agrees its self-insurance, general liability, automobile liability, and property insurance shall be primary as respects to any coverage afforded to or maintained by City. ARTICLE 7: MISCELLANEOUS Section 7.01 - Captions The Captions and section designations herein set forth are for convenience only and shall have no substantive meaning. Section 7.02 - Severability If any term or provision of this Interlocal Agreement, or the application thereof to any person or circumstance, shall to any extent be held invalid or unenforceable, the remainder of this Interlocal Agreement, or the application of such term or provision, to any person or circumstance other than those as to which it is held invalid or unenforceable, shall not be affected, and every other term and provision of this Interlocal Agreement shall be deemed valid and enforceable to the extent permitted by law. Section 7.03 - Entire A_~reement This Interlocal Agreement represents the entire understanding between the City and SWA, and supersedes all other negotiations, representations or agreements, either written or oral, relating to this Interlocal Agreement. None of the provisions, terms and conditions contained in this Interlocal Agreement may be added to, modified, superseded or otherwise altered, except by written instrument executed by the parties hereto. Section 7.04 - Non-Exclusivity of Remedies No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise. No single or partial exercise by any party of any right, power, or remedy hereunder shall preclude any other or further exercise thereof. Section 7.05 - Time of Essence The parties expressly agree that time is of the essence in this Interlocal Agreement and the failure by a party to complete performance within the time specified, or within a reasonable time if no time is specified herein, shall, at the option of the other party without liability, in addition to any other rights or remedies, relieve the other party of any obligation to accept such performance. Section 7.06 - Non-Discrimination The parties agree that no person shall, on the grounds of race, color, sex, national origin, disability, religion, ancestry, marital status, or sexual orientation be excluded from the benefits of, or be subjected to any form of discrimination under any activity carried out 12 in the performance of this Interlocal Agreement. Section 7.07 - Construction No party shall be considered the author of this Interlocal Agreement since the parties hereto have participated in extensive negotiations and drafting and redrafting of this document to arrive at a final agreement. Thus, the terms of this I nterlocal Agreement shall not be strictly construed against one party as opposed to the other party based upon who drafted it. In the event that any section, paragraph, sentence, clause, or provision hereof, shall be held by a court of competent jurisdiction to be invalid, such shall not affect the remaining portions of this Interlocal Agreement and the same shall remain in full force and effect. Section 7.08 - Broker The parties each warrant to the other that no real estate broker or agent has been used or consulted in connection with the transaction contemplated by this Interlocal Agreement. SWA agrees to indemnify, defend and hold harmless City from and against any claims or demands of any such salesperson, agent, finder or broker claiming to have dealt with the SWA. The foregoing indemnification shall include all costs, expenses and fees, including, reasonable attorney's fees, relating to the defense of any such claim or demand at trial or appeal. Nothing contained herein shall be construed as a waiver of sovereign immunity or the statutory limits of liability set forth in Section 768.28, Florida Statutes. Section 7.09 - Assignment No party to this Agreement may assign this Agreement or any interest herein without the prior written consent of the other party(s), which may be granted or withheld at such other party(s) sole and absolute discretion. This provision shall be construed to include a prohibition against any assignment, by operation of law, legal process, receivership, bankruptcy, or otherwise, whether voluntary or involuntary. Section 7.10 - Default In the event either party hereto fails or refuses to perform any term, covenant, or condition of this Interlocal Agreement for which a specific remedy is not set forth in this Interlocal Agreement, the parties shall, in addition to any other remedies provided at law or in equity, have the right of specific performance thereof to the extent permitted by law. Section 7.11 - Governing Law and Venue This Interlocal Agreement shall be governed by, construed and enforced in accordance with, the laws of the State of Florida. Venue in any action, suit or proceeding in connection with this Agreement shall be filed and held in a State court of competent jurisdiction located in Palm Beach County, Florida. Section 7.12 - Binding Effect This Interlocal Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective legal representatives, successors and permitted 13 assigns. Section 7.13 - Waiver No waiver of any provision of this Interlocal Agreement shall be effective against any party hereto unless it is in writing and signed by the party(s) waiving such provision. A written waiver shall only be effective as to the specific instance for which it is obtained and shall not be deemed a continuing or future waiver. Section 7.14 - Incorporation by Reference Exhibits attached hereto and referenced herein shall be deemed to be incorporated into this Interlocal Agreement in their entirety. Section 7.15 - Notices All notices and elections (collectively, "notices") to be given or delivered by or to any party hereunder, shall be in writing and shall be (as elected bythe party giving such notice) hand delivered by messenger, courier service or Federal Express, or alternatively shall be sent by United States Certified Mail, with Return Receipt Requested. The effective date of any notice shall be the date of delivery of the notice if by personal delivery, courier services or Federal Express, or if mailed, upon the date which the return receipt is signed or delivery is refused or the notice designated by the postal authorities as non-deliverable, as the case may be. The parties hereby designated the following addresses as the addresses to which notices may be delivered, and delivery to such addresses shall constitute binding notice given to such party: As to the City: City Manager City of Delray Beach 100 N.W. First Avenue Delray Beach, FL 33444 With a copy to: City Attorney City of Delray Beach 200 N.W. First Avenue Delray Beach, FL 33444 As to the SWA: Executive Director Solid Waste Authority of Palm Beach County 7501 N. Jog Road West Palm Beach, Florida 33412 With a copy to: Director of Planning and Environmental Programs Solid Waste Authority of Palm Beach County 14 7501 N. Jog Road West Palm Beach, Florida 33412 With a copy to: SWA General Counsel cio Palm Beach County Attorney 301 N. Olive Avenue Suite 601 West Palm Beach, Florida 33401 Any party may from time to time change the address to which notice under this Agreement shall be given such party, upon three (3) days prior written notice to the other parties. Section 7.16 - Effective Date This Interlocal Agreement is expressly contingent upon the approval of the Board of the SWA, and shall become effective only when signed by all parties and approved by the Board of the SWA. Section 7.17 - Filing A copy of this Interlocal Agreement shall be filed with the Clerk of the Circuit Court in and for Palm Beach County. INTENTIONALLY LEFT BLANK 15 IN WITNESS WHEREOF, the parties have caused this Interlocal Agreement to be executed on the day and year first above written. ATTEST: CITY OF DELRAY BEACH, FLORIDA By: By: Barbara Garito, City Clerk David Schmidt, Mayor (SEAL) APPROVED AS TO FORM AND LEGAL SUFFICIENCY By: Susan A. Ruby, City Attorney ATTEST: SOLID WASTE AUTHORITY OF PALM BEACH COUNTY, BY ITS BOARD By: By: (SEAL) SANDRA BOURHAN, SWA Clerk MARY McCARTY, Chair APPROVED AS TO TERMS AND CONDITIONS By: DONALD L. LOCKHART, Executive Director APPROVED AS TO FORM AND LEGAL SUFFICIENCY By: , MAUREEN E. CULLEN, General Counsel 16 EXHIBITS EXHIBIT a SKETCH OF PROPERTY EXHIBIT B SITE PLAN 17 EXHIBIT A (Interlocal Agreement) SKETCH OF PROPERTY , ,[gI~6 ON ~B/~] ~0:£I ~3~ ~O/O~/TO ;oo/;oo~ _,T:~Zt{~.'T-'T.¥ ~)~Id gGC~'~gcTgE :X'V-/..4' ,CO:CT ~O0~/OC/TO EXHIBIT B (Interlocal Agreement) SITE PLAN I I I I ii! 0 / / / / I I I I y./, // ,/ .- t// / / ! ~ ..,_ m ~'~o ~ ' ,9:' / ADMINISTRATIVE SERVICES MEMORANDUM TO: David T. Harden, City Manager FROM: ~Robert A. Barcinski, Assistant City Manager SUBJECT: Agenda Item City Commission Workshop February 12, 2002 Proposed Performance Measures/Golf Comes and Tennis Facilities DATE: February 4, 2002 Attached are copies of proposed performance measures for FY01-02 for the Municipal Golf Course, Lakeview Golf Course and Tennis Facilities. This item is on the agenda for City Commission discussion and direction. The performance measures as proposed include a recommended weighted percentage (far right column) for each measure. Mr. Dubin and his staff will be available at the meeting for questions. RAB:ags Attachment Cc: Brahm Dubin Sharon Painter File:allen/rab Doc:Agenda Item 2 12 02 Performance Measures Dubin.doc Proposed Delray Beach Golf Club Performance Measures FY 01-02 2. 3. 4. 5. 10. 11. 12. Achieve a level in restaurant sales of $1 million ($969,684 actual for 2001) 10 Maintain a level of 85,000 rounds (85,435 actual for 2001) 10 Maintain a level in youth participation of 2,000 (2,054 actual for 2001) 5 Aerate greens, tees, and fairways twice a year 5 Achieve net income of $96,242 as per City of Delray Beach Comparative Income Statements. ($66,653 actual for 2001) 15 Maintain merchandise sales of $100,000 in the Pro-Shop ($127,062 5 actual for 2001) Maintain range ball sales of $90,000 ($94,924 actual for 2001) 5 Host the City Golf Championship 5 Hire National Golf Foundation to implement a Customer Loyalty and 20 Satisfaction Program (CLASP), to conduct a customer survey and achieve an overall positive customer satisfaction rating in all areas of the operations in accordance with National Golf Foundation national averages Host a minimum of four (4) civic or charity tournaments per year. 5 (6 actual in 2001) Maintain a permit-holder base of 340 memberships (365 actual for 2001) 10 Assist in development of requests for proposals to hire a Golf Course Architect 5 to prepare master plan, cost estimates, and bid specifications for green renovation, irrigation system renovation, and relocation of a position of number 1 tee and employee parking to be removed from the Lake Worth Drainage District - RFP to be completed and sent out by March 2001 Total 100 Proposed Lakeview Golf Club Performance Measures FY 01-02 2. 3. 4. 5. 6. Maintain a level of 54,500 rounds annually (54,31 lactual for 2001) Host the Goblin Junior Golf Tournament Host the Special Olympics Junior Golf Tournament Host the City Junior Golf Championship Host the Jingle Bell Golf Tournament Hire National Golf Foundation to implement Customer Loyalty and Satisfaction Program (CLASP), to conduct a customer survey and achieve an overall positive customer satisfaction rating in all areas of the operations in accordance with National Golf Foundation national averages Achieve net income of $105,407 as per City of Delray Beach Comparative Income Statements. ($83,081 actual for 2001) Achieve merchandise sales of $18,000. ($17,925 actual for 2001) Total: 15 7 7 7 7 25 25 _7 1.00 Proposed Delray Beach Tennis Center Delray Swim & Tennis Club Performance Measures FY 01-02 o 10. 11. Conduct the Intel-national Tennis Championship, the Chris Evert Pro Celebrity, and the JPMorgan Chase Tennis Challenge Maintain a membership level of 425 memberships (496 actual for 2001) Maintain a level of 60,000 in daily play including members, City residents, County residents, Non-residents and Programs (58,637 actual for 2001) Encourage youth utilization by hosting } Junior Summer Camps for ages 4-16 from June to August } Easter Junior Camp } Christmas Junior Camp } Provide free hard court use for Juniors from June to August Conduct a minimum of eight (8) Amateur Tournaments (8 actual for 2001) Encourage diverse use of facilities by: } Hosting the Roots Tennis Tournament ~' Hosting the Rainbow Tennis Classic Conduct $240,000 in lesson programs ($198,409 actual for 2001) Conduct a customer survey and achieve an overall positive customer satisfaction rating in all areas of the operations Complete renovation of courts 5 through 8 and 13 and 14 at the Delray Beach Tennis Center Complete renovation of courts 1 through 4 at the Delray Swim & Tennis Club Host a Professional Exhibition featuring local tennis professionals Total: 15 10 10 5 10 5 10 20 5 5 5 100 CITY COMMISSION CITY OF DELRAY BEACH~ FLORIDA SPECIAL/WORKSHOP MEETING - FEBRUARY 12~ 2002 6:00 P.M. - FIRST FLOOR CONFERENCE ROOM AGENDA ADDENDUM THE SPECIAL MEETING AGENDA IS AMENDED BY ADDING THE FOLLOWING ITEM: e REQUEST FOR GRANT/SOUL OF DELRAY: Consider a request from the Soul of Delray Committee for a $30,000 grant associated with administrative and production costs for the "Celebrate the Soul of Delray" event to be held on Saturday, February 16, 2002. Please be advised that if a person decides to appeal any decision made by the City Commission with respect to any matter considered at this meeting, such person will need to ensure that a verbatim record includes the testimony and evidence upon which the appeal is based. The City neither provides nor prepares such record. CELEBRATE THE SOUL OF Delray Beach 400 WEST A TLANTIC AVE, DELRA Y BEACH, FL 33444 561.2'/6.4915 The Delray Merchant's A~ocialkxl has~ closely ~ the City for over t0 years. We have served the com~ well, prov~ the catalyst for redevelopment and crime prevention in the West At~ Oon'idor. This is a high America City will be ~ in ~ most positive light as this event not only when we all work togelher toward one common goal. The goal is community If there are any que~Uons, please feel free to call me at 276-4915. 3?.5 Celebrate the Soul of Delray February 16, 2002 Revised Budget Cash Revenues Palm Beach County Grant Palm Beach Cultural Council Grant Vendor Income Sponsor Income Carry Over Previous Event TOTAL $20,000 11,315 12,000 1,000 4,000 $48,315 Cash Expenses General Liability Insurance Liquor Liability Insurance Port-a-lets Portable Lights (2) Children's Area Sound & Liability Backline Catering Hotels Ground Transportation Transportation Air Entertainment · Spinners Shirley Ceasar · Keith Washington Stage Rentals Others Entertainment (local) Unique Productions (fee stage hands) $ 1,195 700 900 85O 400 4,500 3,500 2,900 3,000 2,000 3,500 20,000 16,500 7,500 3,000 2,000 7,250 $79,195 $48,315 ¢$30,8803