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FM # 429994-1
OKALOOSA COUNTY, FLORIDA
FIRST AMENDMENT TO THE FEDERAL-FUNDED
STATE INFRASTRUCTURE BANK LOAN AGREEMENT BETWEEN
THE STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION
AND OKALOOSA COUNTY, FLORIDA FOR THE FIXED
CAPITAL OUTLAY PORTIONS OF THE TAXI-WAY A REHABILITATION AND
STORMWATER MASTER PLAN
THIS FIRST AMENDMENT TO THE FEDERAL-FUNDED STATE
INFRASTRUCTURE BANK LOAN AGREEMENT (“Amendment”) is between the State of
Florida, Department of Transportation (“Department”) and Okaloosa County, Florida
(“Agency”), and is effective as of the date last signed.
RECITALS
A. The Department and the Agency entered into a Federal-Funded State
Infrastructure Bank Loan Agreement dated March 9, 2011 (“Original Agreement”) under which
the Department made a loan to the Agency in the initial principal amount of Three Million and
00/100 Dollars ($3,000,000.00) for the Agency’s portion of the fixed capital outlay portions of
the Taxiway A Rehabilitation and Stormwater Master Plan (“Project”).
B. The Agency has completed the fixed capital outlay portions under the Original
Agreement and the Disbursements expended by the Agency total Two Million Eight Hundred
Three Thousand Two Hundred Fifty and 97/100 Dollars ($2,803,250.97).
c. Pursuant to Paragraph 5.10 of the Original Agreement, this Amendment is
required to establish the final Project costs.
AGREEMENT
The parties agree the terms of the Original Agreement are amended as follows:
1. Section 1.00 is deleted in its entirety and restated as follows:
“1.00 Purpose of Loan Agreement: The purpose of this Agreement is to state the terms
and conditions upon which a loan from the SIB account will be made to the Agency;
establish an amount of the SIB loan, not to exceed $2,803,250.97; establish a loan
disbursement schedule; establish a schedule for repayments to the SIB account; and
identify revenue sources pledged for the repayment to the SIB.”
2. Section 3.00 is deleted in its entirety and restated as follows:
“3.00 State Infrastructure Bank Funding: The Agency has requested the Department
to loan to the Agency an amount not to exceed $2,803,250.97 from the SIB to be used for
the project as identified in Exhibit “A.”
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FM # 429994-1
OKALOOSA COUNTY, FLORIDA
3. The Loan amount referenced in Section 5.10 is amended to be $2,803,250.97.
4. Section 5.20 is deleted in its entirety and restated as follows:
“5.20 Loan Payments: Loan Payments shall be made at the time and in the amounts
stated in the Loan Disbursement/Payment Schedule attached as Exhibit B. Loan
Payments shall be credited first to interest accrued on the principal amount of the Loan, if
any, then to principal. Upon determination by the Department SIB Program Manager
that a proposed prepayment will not adversely impact the Department’s Federal SIB
program account, the Agency may prepay the Loan in full, or in part, without penalty.”
5s Section 14.30 is deleted in its entirety and restated as follows:
“14.30 Completion of the Project: The parties acknowledge that the Agency completed
the project on or before September 18, 2013. Completion of the project shall in no way
be interpreted as to relieve the Agency of their indebtedness to the Department and the
obligation to repay under the terms of Exhibits “A” and “B.’””
6. Exhibit A to the Original Agreement is also attached as Exhibit A to this
Amendment. Exhibit B to the Original Agreement is deleted in its entirety and
replaced with Exhibit B attached to this Amendment.
cs This Amendment may be executed in counterparts.
8. Other than as expressly stated in this Amendment, the terms and conditions of the
Original Agreement remain in full force and effect.
The remainder of this page intentionally left blank.
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FM # 429994-1
OKALOOSA COUNTY, FLORIDA
The parties have executed this Amendment on the date(s) below.
ATTEST
OKALOOSA COUNTY, FLORIDA
CHAIRMAN
Charles K. Windes, Jr.
Date Print Name Date
Legal Review:
By:
Date
STATE OF FLORIDA, DEPARTMENT OF
TRANSPORTATION
By:
Ananth Prasad, P.E., Secretary Date
Legal Review:
Date
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FM # 429994-1
OKALOOSA COUNTY, FLORIDA
EXHIBIT A
Project Description and Responsibilities
PROJECT NAME:
Taxiway A Rehabilitation and Stormwater Master Plan
PROJECT LOCATION:
Bob Sikes Airport
Okaloosa County
Eglin Air Force Base, Florida
PROJECT DESCRIPTION:
The existing 8,000 foot by 50 foot asphalt taxiway at Bob Sikes Airport is approximately 20
years old and is exhibiting signs of deterioration. This project will rehabilitate the existing
taxiway and associated connectors and will widen the width of the taxiway by 75 feet and
increase centerline to centerline offset of 400 feet from the centerline of the runway. This
project will also construct an aircraft holding area on the south end of the taxiway, construct
storm water improvements, and relocate the existing taxiway edge lights and airfield guidance
signs. The widening of the taxiway is necessary to meet FAA requirements for serving the
anticipated aircraft at the airport. Currently, the centerline offset is a deviation from FAA design
standards. The changes to the centerline will conform to FAA recommendations.
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FM # 429994-1
OKALOOSA COUNTY, FLORIDA
EXHIBIT B
Loan Disbursement/Payment Schedule
Okaloosa County
Taxiway A Rehabilitation and Stormwater Master Plan
8/12/2011 $0.00. $253,638.89 $0.00 $253,638.89 $0.00 $0.00 $0.00 $253,638.89)
2014/42 10/1/2011 $253,638.89 $0.00 $1,042.35 $254,681.24 $0.00 $0.00 $0.00 $254,681.24
1116/2011 $254,681.24 $690,378.67 $0.00 $945,059.91 $0.00 $0.00 $0.00 $945,059.91
2/9/2012 $945,059.91 $616,350.93 $0.00 $1,561,410.84 $0.00 $0.00 $0.00 $1,561.410.84
7/8/2012 $1,561,410.84 $264,735.64 30.00 $1,826,146.48 $0.00 $0.00 $0.00 $1,826, 146.48
$1,826,146.48 $615,845.73 $0.00 $2,441,992.21 $0.00 $0.00 $0.00 $2,441,992.21
2012/13 fi $2,441,992.21 $0.00 $41,535.30 $2,483,527.51 $309,114.35 $42,577.65 $351,692.00) $2,131,835.51
11/28/2012 $2,131,835.51 $151,911.42 $0.00 $2.283.746.93 $0.00 $0.00 $0.00 $2.283.746.93
2/25/2013 $2,283.746.93 $68,944.78 $0.00 $2,352,691.71 $0.00 $0.00; $0.00 $2,352,691.71
2013/14 10/1/2013 $2,352,691,71 $0.00: $69,023.57 $2,421,715.28 $282,668.43 $69,023.57 $351,692.00 $2,070,023.28
12/16/2013 $2.070.023.28 $141,444.91 $0.00 $2.211.468.19 $0.00 $0.00 $0.00 $2,211,468.19
2014/15 | 10/1/2014 $2,211,468.19 $0.00 $65,460.50 $2,276,928.69 $286,231.50 $65,460.50 $351,692.00 $1,925,236.69)
2015/16 | 10/1/2015 $1,925,236.69 $0.00 $57,757.10 $1,982,993.79 $293,934.90 $57,757.10 $351,692.00 $1,631,301.79)
2016/17_| 10/1/2016 $1,631,301.79 $0.00 $48,939.05 $1,680,240.34) $302,752.95 $48,939.05 $351,692.00 $1,328,548.84)
2017/18 | 10/1/2017 $1,328.548.84 $0.00 $39,856.47 $1,368,405.31 $311,835.53 $39,856.47 $351,692.00. $1,016,713.31
2018/19 | 10/1/2018 $1,016.713.31 $0.00 $30,501.40 $1,047.214.70 $321,190.60 $30,501.40 $351,692.00 $695,522.70)
2019/20 | 10/1/2019 $695,522.70 $0.00 $20,865.68 $716,388.39 $330,826.32 $20,865.68 $351,692.00) $364,696.39
2020/21 | 10/1/2020 $364,696.39 $0.00 $10,940.89 $375,637.28 $340,751.11 $10,940.89 $351,692.00 $23,945.28
2021/22 | 10/1/2021 $23,945.28 $0.00 $718.36 $24,663.64 $23,945.28 $718.36 $24,663.64 $0.00)
$2,803,250.97 $386,640.67 $2,803,250.97 $386,640.67} _$3,189.891.64
Interest begins accruing with the first disbursement and will accrue and compound annually each October | thereafter. until loan is completely repaid.
These calculations assume the following disbursement dates:
FY 2011/12 $1,560.368.49
FY 2012/13 $1,101,437.57
FY 2013/14 $141,444.91
If disbursements are made on dates other than those above. the interest calculations will be modified and this schedule updated according.
Total Loan Amount $2,803.250.97
Total Interest $386,640.67
Total Repayments $3,189.891.64
Remit Payment to:
Mailing Address:
State Board of Administration of Florida
Post Office Box 13300
Tallahassee, FL 32317-3300
Street Address:
State Board of Administration of Florida
1801 Hermitage Boulevard, Suite 100
Tallahassee, FL 32308
Wiring Instructions:
Bank of America
ABA 30260-0959-3
Credit: State Board of Administration
Account #: 003660048119
Note on Payment for "FDOT SIB Loan - 429994-1"
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