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O Consent Agenda
Page 1 of I
Jefferson County
Board of Commissioners
Agenda Request
To: Board of Commissioners
Philip Morley, County Administrator
From: Monte Reinders, Public Works Director/County Engineer*-
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Agenda Date: September 24, 2018
Subject: Public Works Trust Fund Loan Closeout
Statement of Issue: The attached loan closeout amendment revises the terms of the
Public Works Trust Fund loan for the Port Hadlock sewer project. It reflects the
actual scope of work completed through March 5, 2017 and the amount of loan
actually used and revises the loan term from 35 years to 22 years with a balloon
payment due on June 1, 2033.
Analysis/Strategic Goals/Pro's a Con's: The loan was secured in 2012 and used to
fund engineering, permitting, and land acquisition for the Port Hadlock Sewer
project. Additional federal and state funding required for construction could not be
obtained, and therefore the sewer has not yet been constructed. The loan term has
expired, and the loan must be closed out. Because only 17% of the loan was actually
expended and did not include construction, the Public Works Trust Fund Board is
requiring that the loan term be reduced from 35 years to 22 years.
Fiscal Impact/Cost Benefit Analysis: The County is using dedicated Public
Infrastructure Fund (P.I.F.) money to retire bond and loan debt. P.I.F. revenue
projections show that adequate revenue will be available to cover these debts.
Recommendation: Please have the Chair sign the three (3) original loan amendment
documents in the places indicated and return to Public Works for further processing.
Department Contact: Monte Reinders, Public Works Director/County Engineer
Revie -d By:
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P," '5 orley, oun,y Administrator Date
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AMENDMENT DECLARATIONS
Amendment Title Project Completion; Scope of Work; and Loan Term Amendment
Amendment Number Amendment X
CLIENT INFORMATION
Legal Name Jefferson County
Loan Number PC 12-951-052
PROJECT INFORMATION
Title Port Hadlock Wastewater System
Project City Port Townsend
Project State Washington
Project Zip 98368
LOAN INFORMATION
Loan Amount 10,000,000.00
De-obligation 8,323,844.78
Final Loan Amount 1,676,155.22
Prior Loan Term 35
Loan Term 22
Current Interest Rate 0.50
Final Interest Rate 0.50
Loan Reimbursement September 1, 2010
Date
Payment Month June 1
SPECIAL TERMS AND CONDITIONS GOVERNING THIS LOAN AGREEMENT
The final payment shall be a balloon payment on or before June 1, 2033, of an amount sufficient
to bring the loan balance to zero.
SCOPE OF WORK
Scope of Work The County will conduct activities in preparation for the construction of a
new wastewater system serving the Irondale/Port Hadlock Urban Growth
Area, and Phase 1 collection system.
Costs may include but are not limited to engineering, cultural and historical
resources, environmental documentation, review, permits, public
involvement, land/ right-of-way acquisition and bid documents. The
project needs to meet all applicable Local, State, and/or Federal standards.
AMENDMENT FACE SHEET
Loan Number: PC12-951-052
Amendment Number X
Washington State Department of Commerce
PUBLIC WORKS TRUST FUND — CONSTRUCTION LOANS
1. Contractor 2. Contractor Doing Business As (optional)
Jefferson County N/A
623 Sheridan St
Port Townsend, WA 98368
3. Contractor Representative (only if updated) 4. Public Works Board Representative (only if updated)
N/A N/A
5. Original Contract Amount 6. De Obligation 7. Final Contract Amount
$10,000,000.00 $8,323,844.78 $1,676,155.22
8. Amendment Funding Source 9. Amendment Start Date 10. Amendment End Date
Federal: El State: IA Other: El N/A: ❑ Amendment Execution Date June 1, 2033
11. Federal Funds (as applicable): Federal Agency: CFDA Number:
N/A N/A N/A
12. Amendment Purpose:
The purpose of this amendment is to modify the term of the loan, revised Scope of Work; and to certify the project
completion for this Public Works Trust Fund Loan.
The Board, defined as the Washington State Public Works Board and Borrower/Contractor acknowledge and accept the
terms of this Agreement/Contract As Amended and attachments and have executed this Agreement/Contract
Amendment on the date below to start as of the date and year referenced above. The rights and obligations of both
parties to this Agreement/Contract As Amended are governed by this Agreement/Contract Amendment and the
following other documents incorporated by reference: Amendment Terms and Conditions, including Attachment I:
Certified Project Completion Report. A copy of this Agreement/Contract Amendment shall be attached to and made a
part of the original Agreement/Contract between the Board and the Borrower/Contractor. Any reference in the original
Agreement/Contract to the "Agreement" or the "Contract" shall mean the"Agreement As Amended"or"Contract As
Amended," respectively.
FOR THE BORROWER/CONTRACTOR FOR PUBLIC WORKS BOARD
Signature Scott Hutsell, Public Works Board Chair
David W. Sullivan
Print Name Date
Jefferson County Board of Commissioners, Chair
Title APPROVED AS TO FORM ONLY
This 22nd Day of March, 2013
Date Bob Ferguson
Attorney General
Signature on File
Kathryn Wyatt
Assistant Attorney General
A ved asp orm: ,p
C`, Date: / V
Philip C.Hunsucker,Chief Civil Deputy Prosecu ing Attorney
Jefferson County Prosecuting Attorney's Office
Jefferson County page 3 Project Completion Report
PC12-951-052 8/27/2018 Public Works Trust Fund
AMENDMENT TERMS AND CONDITIONS
Contract Number: PC12-951-052
PROJECT COMPLETION AMENDMENT
PUBLIC WORKS TRUST FUND —CONSTRUCTION CONTRACTS
Loan Number: PC12-951-052
Project Name: Port Hadlock Wastewater System
Contractor: Jefferson County
The purpose of this amendment is to modify the end date and revised Scope of Work of the Loan Agreement/Contract
identified above.To acknowledge the project has been certified complete and the final contract amount, interest rate, and
local share on the above referenced contract have been adjusted, if necessary, as reflected below.
The Public Works Board,(or its successor)a department of the state of Washington and the Contractor agree to amend the
above referenced contract as described below.
The Term of Loan is amended to delete the original Term of Loan in your contract and replace it with the LOAN TERM
as shown on the attached Declarations Page. The Amendment End Date on the attached Contract Face Sheet reflects this
new contract duration.
The SCOPE OF WORK is amended to delete the original declared Scope of Work and replace it with the SCOPE OF
WORK as shown on the attached Declarations Page.The Scope of Work,where referenced in the Contract's Special
Terms and Conditions section, shall refer to this amended text.
The amount of the loan shall be the Final Loan Amount as identified on the Declarations Page. The interest rate shall be
the Final Interest Rate as identified on the Declarations Page, per annum on the outstanding balance.
Jefferson County page 3 Project Completion Report
PC12-951-052 8/27/2018 Public Works Trust Fund
ATTACHMENT I: CERTIFIED PROJECT COMPLETION REPORT
PUBLIC WORKS TRUST FUND - CONSTRUCTION LOANS
Loan Number: PC12-951-052 Contractor:Jefferson County
Project Name: Port Hadlock Wastewater System Address: 623 Sheridan St
Original or Extended Project Completion Date: 3/5/2017 Port Townsend,WA 98368
Chief Executive Officer Certification
The Chief Executive Officer of the Borrower/Contractor certifies that:
• To the best of his/her knowledge,the financial information and data provided in this report is true and correct as of
the signature date indicated below,and no project costs listed in this report incurred more than twelve(12)months
before agreement/contract execution or after the date of the project completion;
• Records supporting the information provided in this report are on file and will be made available by the
Borrower/Contractor upon request; and
Jefferson County Board of Commissioners, Chair
Signature of Chief Executive Officer Title
David Sullivan
Print Name Date of Signature
Project Engineer or Consultant Certification
The Project Engineer or Consultant of the Borrower/Contractor certifies that:
• To the best of his/her knowledge,the data provided in this report is true and correct as of the signature date
indicated below;
• The project was completed in accordance with the Loan Agreement/Contract's Scope of Work;and
• The project was completed on_3/5/2017
(Actual Date of Project Completion)
Public Works Director/County Engineer
Signature of Project E •-- . onsultant Title
Monte Reinders 8/27/18
Print Name Date of Signature
Jefferson County page 3 Project Completion Report
PC12-951-052 8/27/2018 Public Works Trust Fund