WA ST Dept of Ecology 12/9/2021 - Laserfiche WebLink

State of Washington Department of Ecology Page 12 of 16 City of Everett Beverly Lake Water Quality Retrofit Project Agreement No.WQC-2020-COE-00091 P.O.Box 47611 Olympia WA 98504-7611 In lieu of mailing payments,electronic fund transfers can be arranged by working with ECOLOGY's Financial Manager. No change to the amount of the semiannual principal and interest payments shall be made without a mutually signed amendment to this agreement. The RECIPIENT shall continue to make semiannual payments based on this agreement until the amendment is effective,at which time the RECIPIENT's payments shall be made pursuant to the amended agreement. 2.Late Charges. If any amount of the Final Loan Amount or any other amount owed to ECOLOGY pursuant to this agreement remains unpaid after it becomes due and payable, ECOLOGY may assess a late charge. The late charge shall be one percent per month on the past due amount starting on the date the debt becomes past due and until it is paid in full. 3.Repayment Limitations. Repayment of the loan is subject to the following additional limitations,among others: those on defeasance,refinancing and advance refunding,termination,and default and recovery of payments. 4.Prepayment of Loan. So long as ECOLOGY shall hold this loan,the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount. Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest,the RECIPIENT shall first contact ECOLOGY's Revenue/Receivable Manager of the Fiscal Office. K.Loan Security Due Regard:For loans secured with a Revenue Obligation: The RECIPIENT shall exercise due regard for Maintenance and Operation Expense and the debt service requirements of the Senior Lien Obligations and any other outstanding obligations pledging the Gross Revenue of the Utility,and it has not obligated itself to set aside and pay into the loan Fund a greater amount of the Gross Revenue of the Utility than,in its judgment,shall be available over and above such Maintenance and Operation Expense and those debt service requirements. Where collecting adequate gross utility revenue requires connecting additional users, the RECIPIENT shall require the sewer system connections necessary to meet debt obligations and expected operation and maintenance expenses. Levy and Collection of Taxes(if used to secure the repayment of the loan):For so long as the loan is outstanding,the RECIPIENT irrevocably pledges to include in its budget and levy taxes annually within the constitutional and statutory tax limitations provided by law without a vote of its electors on all of the taxable property within the boundaries of the RECIPIENT in an amount sufficient,together with other money legally available and to be used therefore,to pay when due the principal of and interest on the loan,and the full faith,credit and resources of the RECIPIENT are pledged irrevocably for the annual levy and collection of those taxes and the prompt payment of that principal and interest. Not an Excess Indebtedness:For loans secured with a general obligation pledge or a general obligation pledge on special assessments: The RECIPIENT agrees that this agreement and the loan to be made do not create an indebtedness of the RECIPIENT in excess of any constitutional or statutory limitations. Pledge of Net Revenue and ULID Assessments in the ULID (if used to secure the repayment of this loan):For so long as the loan is outstanding,the RECIPIENT irrevocably pledges the Net Revenue of the Utility,including applicable ULID Assessments in the ULID,to pay when due the principal of and interest on the loan. Utility Local Improvement District(ULID)Assessment Collection(if used to secure the repayment of the loan):All ULID Assessments in the ULID shall be paid into the Loan Fund and used to pay the principal of and interest on the loan. L.Maintenance and Operation of a Funded Utility: The RECIPIENT shall,at all times,maintain and keep the funded Utility in good repair,working order,and condition. M. Opinion of RECIPIENT's Legal Counsel: The RECIPIENT must submit an"Opinion of Legal Counsel to the RECIPIENT"to ECOLOGY before this agreement will be signed. ECOLOGY will provide the form. N.Prevailing Wage(Davis-Bacon Act):The RECIPIENT agrees,by signing this agreement,to comply with the Davis-Bacon Act prevailing wage requirements. This applies to the construction,alteration,and repair of treatment works carried out,in whole or in part,with assistance made available by the State Revolving Fund as authorized by Section 513, title VI of the Federal Water Pollution Control Act(33 U.S.C. 1372). Laborers and mechanics employed by contractors and subcontractors shall be paid wages not less often than once a week and at rates not less than those prevailing on projects of a character similar in the locality as determined by the Secretary of Labor. The RECIPIENT shall obtain the wage determination for the area in which the project is located prior to issuing requests for bids,proposals,quotes or other methods for soliciting contracts(solicitation). These wage determinations shall be incorporated into solicitations and any subsequent contracts. The RECIPIENT shall ensure that the required EPA contract language regarding Davis-Bacon Wages is in all contracts and sub contracts in excess of$2,000. The RECIPIENT shall maintain records sufficient to document compliance with the Davis-Bacon Act,and make such records available for review upon request. The RECIPIENT also agrees,by signing this agreement,to comply with State Prevailing Wages on Public Works,Chanter Template Version 10/30/2015