On August 24, 2020, the Board of County Commissioners (the "BOCC") adopted Ordinance 2020-26 which created the American Beach Water and Sewer District (the "District"); a dependent special district under the BOCC.  The purpose of the District is to construct and maintain water and sewer lines in the unincorporated area of the county within the boundaries of the District.

As such, the District applied for State Revolving Fund (SRF) loans and grants to fund costs associated with the initial design and construction of the water and sewer lines.  Additionally, the District requires associated costs for professional engineering and capital project administration services.

Because State Revolving Fund loan proceeds are received on a reimbursement basis from the Florida Department of Environmental Protection (FDEP), the District has a need for an advancement of funding from the BOCC to support the initial project costs and to begin submitting for reimbursement of expenditures through the SRF program. 

On September 1, 2021, the Board of County Commissioners and the American Beach Water and Sewer District approved a Loan Agreement, Contract No. CM3048, which set forth the terms by which funds will be loaned to and repaid by the District.  Existing fund balances would be loaned to the District from the BOCC's Nassau Amelia Utility fund (fund 471) to the General Fund (fund 001) and through to the District Fund (fund 472); authorized at an amount not to exceed $1,000,000.  Repayment would be made from all eligible revenues available in fund 472, on a monthly basis, in an amount no less than the total of any reimbursement received in the month prior.  Eligible revenues may include, but are not limited to, reimbursements, grants, or assessments.  CM3048 provided for a repayment term of one year beginning September 1, 2021 through September 30, 2022.  The County has determined it necessary to extend the performance period of the Agreement through June 30, 2024.