HomeMy WebLinkAbout03-035RESOLUTION NO. 03-35
A RESOLUTION PROVIDING FOR THE
CREATION AND FUNDING OF THE BEAR POINT
MITIGATION BANK CONSTRUCTION AND
IMPLEN'ENTATION RESERVE ACCOUNT
WHEREAS, The Board of County Commissioners of St. Lucie County, Florida,
has made the following determinations:
1. The Board has submitted a permit application to the Florida Department of
Environmental Protection seeking approval of the proposed Bear Point Mitigation Bank,
pursuant to Section 373.4136, Florida Statutes, and Chapter 62-342, Florida
Administrative Code.
2. Section 62-3a2.700, Florida Administrative Code, requires the Board to
provide proof of financial responsibility for the construction and implementation of the
Bank.
NOW, THEREVORE, BE IT RESOLVED by the Board of County
Commissioners of St. Lucie County, Florida:
apply:
Definitions: As used in this resolution, the following definitions shall
A. "Account" shall mean the Bear Point Mitigation Bank
Ctmstruction and Implementation Reserve Account.
B. "Bank" shall mean the Bear Point Mitigation Bank.
"Board" shall mean the Board of County Commissioners, St.
Lu:ie County, Florida.
"Clerk" shall mean the Clerk of Circuit Court, St. Lucie County,
Florida.
"County" shall mean St. Lucie County, a political subdivision of
the State of Florida..
"F~epartment" shall mean the Florida Department of
Environmental Protection, a public entity in the State of Florida or
any successor thereof
"Permit" shall mean the Florida Department of Environmental
Protection mitigation bank permit number 0175246-001 and any
mcdifications issued by the Department to that permit.
2. This Board hereby indicates its intent to establish the "Bear Point
Mitigation Bank Construction and Implementation Reserve Account" in accordance with
the provisions of the Permit, Section 373.4136, Florida Statutes, and Section 62-342.700,
Florida Administrative Code.
3. Initial fur. ding of the Account shall occur within thirty (30) days
following issuance of all vermits required for the construction of the Bank. Funding shall
be four hundred sixty-four thousand three hundred six and 70/100 dollars ($464,306.70),
based upon 110% of the estimated costs of construction, implementation, and annual
monitoring of the Bank as set forth in the permit application and attached hereto as
Exhibit "A". No mitigat:on credits shall be released prior to the creation and funding of
the Account.
4. The Account shall be held by the Clerk in trust for the benefit of the
Department as herein provided. The Clerk shall not be responsible nor shall it undertake
any responsibility for the amount or adequacy of, nor any duty to collect fi.om the
County, any payments necessary to discharge any liabilities of the County established by
the Department.
5. In the event the County fails to perform its obligations under the Permit,
then the Clerk shall make payments from the Account as the Department Secretary or his
designee shall direct in writing, to provide for the payment of the costs of undertaking
activities to provide for tue construction and implementation of the Bank, including but
not limited to maintenance of the Bank following construction, pursuant to the
requirements of the Bank permit.
6. Whenever significant construction has been completed, and with the
written approval of the Eepartment, a portion of the reserved funds in the Account may
be released. The funding required to remain in the Account will be one hundred ten
percent (110%) of that required to complete the implementation of the Bank according to
the adjusted cost estimates required by the Permit and paragraph 7 of this resolution.
When the Department determines in writing that the Bank has met the final success
criteria of the Permit, this Account may be closed.
7. The required funding for the Account shall be adjusted every two (2) years
in accordance with the Permit and the provisions of Subsection 62-342.700(11), Florida
Administrative Code.
8. The Clerk shall invest and reinvest the principal and income of the
Account in one or more investments and keep the Account invested as a single fund,
without distinction between principal and income, in accordance with the Board's
/
Investment Policy and statutory requirements, subject, however, to the provisions of this
section. In investing, reinvesting, exchanging, selling, and managing the Account, the
Clerk shall discharge her duties with respect to the Account solely in the interest of the
beneficiary and with the care, skill, prudence, and diligence under the cimumstances then
prevailing which persons of prudence, acting in a like capacity and familiar with such
matters, would use in the conduct of an enterprise of a like character and with like aims,
except that:
Securities or other obligations of the County, or any other owner or
operator of the mitigation bank, or any of their affiliates as defined in the
Investmen: Company Act of 1940, as amended, 15 U.S.C. 80a-2(a), shall
not be accuired or held, unless they are securities or other obligations of
the Federa or a state government.
The Clerk is authorized to hold cash awaiting investment or distribution
uninvested for a reasonable time and without liability for the payment of
interest thereon.
9. The Clerk is expressly authorized in its discretion:
To transfer from time to time any or all of the assets of the Account to any
common, commingled, or collective account created by the Clerk in which
the Account is eligible to participate, subject to all of the provisions
thereof, to be commingled with the assets of other reserve accounts
participating therein; and,
To purch~.se shares in any investment company registered under the
lnvestmen; Company Act of 1940, 15 U.S.C. 80a-1 et seq. The Clerk may
vote such shares in its discretion.
10. Without in any way limiting the powers and discretion conferred upon the
Clerk by other provisions of this resolution or by law, the Clerk is expressly authorized
and empowered:
To sell, exchange, convey, transfer, or otherwise dispose of any property
held by it, by public or private sale. No person dealing with the Clerk
shall be bound to see to the application of the purchase money or to
inquire into the validity or expediency of any such sale or other
disposition;
To make, execute, acknowledge, and deliver any and all documents of
transfer ar_d conveyance and any and all other instruments that may be
necessary or appropriate to carry out the powers herein granted;
To registe~ any securities held in the Account in its own name or in the
name of a nominee and to hold any security in bearer form or in book
entry, or to combine certificates representing such securities with
certificates of the same issue held by the Trustee in other fiduciary
capacities, or to deposit or arrange for the deposit of such securities in a
qualified central depository even though, when so deposited with other
securities deposited therein by another person, or to deposit or arrange for
the deposit of any securities issued by the United States Government, or
any agencg or instrumentality thereof, with a Federal Reserve bank, but
the books and records of the Clerk shall at all times show that all such
securities are part of the Fund;
To compromise or otherwise adjust all claims in favor of or against the
Account.
11. The Clerk shall annually, at least thirty (30) days prior to the anniversary
date of establishment of the Account, furnish to the County and to the Department a
statement confirming the value of the Account. Any securities in the Account shall be
valued at market value as of no more than sixty (60) days prior to the anniversary date of
establishment of the Account. The failure of the Clerk or the Department to object in
writing to the Clerk with:n ninety (90) days after the statement has been furnished to the
Grantor and the Department shall constitute a conclusively binding assent by the County,
barring the County from asserting any claim or liability against the Clerk with respect to
matters disclosed in the s~ atement.
12. All orders, requests, and instructions by the County to the Clerk shall be in
writing, signed by the County Administrator or such other designee as the County may
designate by amendment to this resolution. The Clerk shall be fully protected in acting
without inquiry in accorcance with the County's orders, requests and instructions. All
orders, requests, and ins:ructions by the Department to the Clerk shall be in writing,
signed by the Department's Secretary, or designee, and the Clerk shall act and be fully
protected in acting in acc3rdance with such orders, requests, and instructions. The Clerk
shall have the right to assume in the absence of written notice to the contrary, that no
event constituting a change or a termination of the authority of any person to act on
behalf of the County or the Department hereunder has occurred. The Clerk shall have no
duty to act in the absence of such orders, requests, and instructions from the County
and/or the Department, e:~cept as provided for herein.
13. This resolation shall take effect upon issuance of all required permits for
the creation of the Bank. The Clerk of the Cimuit Court is hereby requested to establish
the Account in accordarce with the terms of this resolution within thirty (30) days
following notice from the County Administrator that all permits required for the creation
of the Bank have been iss ~ed.
After motion and second, the vote on this resolution was as follows:
Chairman Cliff Barnes AYE
Vice Chai--man Paula A. Lewis AYE
Commissioner John D. Bmhn AYE
Commissioner Frannie Hutchinson AYE
Commissioner Doug Coward ABSENT
PASSED AND UULY ADOPTED this 10th day of June, 2003.
BOARD OF COUNTY COMM~I,~ff.i~NERS
ST: ~ -,.,,~,,~ ST. LUCIE COUNTY. FL~~
~~~BY: Chairman~~
' C~ttm~~ ~
g:attyXresoltnX2003X03-35.w~ ~
5
Bear Point Estimated Construction & Annual Management & Monitoring to Sucess Costs
Description
Qty UIM Unit Cost Total
Estimated
Cost
Culverts:
Culvert * 14 ea 40' x 36" dia - 14 ga - ann Jlar ends - CAP Installed 560 LF
Culvert - 10 ea 50' x 36" dia - 14 ga - ann[ lar ends - CAP Installed 500 LF
Rock and Roadbase
Rip Rap - Instal[ed 310 TN
Filter Fabric - Installed 7200 SF
Coquina - Installed 600 CY
Gates:
36 x 36" hinge gates (12/24 flap w/hinge in middle) 2 EA
42 x 42" hinge gates (15/27 flap w/hinge in middle) 4 EA
Upright BWR w/42 x 42" back plates 2 EA
42 x 42" flapgates 8 EA
Uprights w/42 x 42" backplates 9 EA
Misc 1 EA
$87.86 $49,201.15
$87~86 $43,929.60
$34,50 $10,695.00
$0.25 $1,800.00
$25.00 $15,000.00
Source
FDOT Cost Hist. 99
FDOT Cost Hist. 99
FDOT Cost Hist. 99
FDOT Cost Hist. 99
FDOT Cost Hist. 99
$198.00 $396.00
$275.00 $1,100.00
$998.00 $1,996.00
$170.00 $1,360.00
$798.00 $7,182.00
$250.00 $250.00
Apple Machine
Apple Machine
Apple Machine
Apple Machine
Apple Machine
Apple Machine
$132,909.75
Rock & Roadbase & Inspection/Management *
Rip Rap - Installed Maintenance 90 TN
Dike Fill - Annual Estimate, 30 ton/mile 225 TN
Coquina ~ Annual Estimate 30 CY / Mile 225 CY
Dike Inspection and Gate Operation - Annual Operation Crew Hour.= 450 CH
$34.50 $3,105.00
$10.00 $2,250.00
$25.00 $5,625.00
$50.00 $22,500.00
$33,480.00
FDOT Cost Hist. 99
FDOT Cost Hist. 99
Direct Quote
Exotic Removal:
Exotic Removal in Wetlands.
Exotic Maintenance in Wetlands. *
EA $49,370.00 $49,370.00 RL Weigt
YR $20,100.00 $60,300.00 RL Weigt
$109,670.00
Monitoring:
Biological & Water Quality Monitoring *
YR $19,046.00 $57,138.00 R.L. Weigt
$57,138.00
Construction Certification
Performance Verification
Engineering:
EA $32,900.00 $32,900.00 Hazen & Sawyer
EA $56,000.00 $56,000.00
$88,900.00
Total Estlma ed Cost Contracted Oul
$422,097.75
EXHIBIT