HomeMy WebLinkAbout2024-09-01 ORDINANCE NOC�QkLI,0-01
AN ORDINANCE AUTHORIZING THE ISSUANCE OF A
SALES AND USE TAX BOND FOR THE PURPOSE OF
FINANCING ALL OR A PORTION OF THE COST OF THE
CONSTRUCTION OF EXTENSIONS, BETTERMENTS AND
IMPROVEMENTS TO THE WATER FACILITIES OF THE CITY
OF BATESVILLE, ARKANSAS; PROVIDING FOR THE
PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE
BOND; AND PRESCRIBING OTHER MATTERS RELATING
THERETO.
WHEREAS, the City of Batesville, Arkansas (the "City") owns and operates a
water and sewer system as a single, integrated municipal undertaking (the "System"); and
WHEREAS, the City Council of the City has determined that extensions,
betterments and improvements to the water facilities of the System and any necessary demolition
related thereto (the "Improvements") are necessary in order to make the services of the System
adequate for the needs of the City; and
WHEREAS, there was submitted to the qualified electors of the City the question
of issuing capital improvement bonds in the maximum principal amount of$110,000,000 for the
purpose of financing all or a portion of the costs of the Improvements; and
WHEREAS, at a special election held August 8, 2023, a majority of the electors
voting on the question approved the issuance of the bonds and the levy of a sales and use tax at the
rate of 1% (the "Tax")to retire the bonds; and
WHEREAS,the City is making arrangements for the sale of a bond in the principal
amount of $110,000,000 to the Arkansas Development Finance Authority, as purchaser (the
'Bondholder"),at a price of par for a bond bearing interest at the rate of 0.75%per annum pursuant
to a Bond Purchase Agreement (the "Agreement") among the City, the Bondholder and the
Arkansas Natural Resources Commission(the "Commission"),which has been presented to and is
before this meeting; and
WHEREAS, the City is authorized, under the provisions of Amendment No. 62 to
the Arkansas Constitution and Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987
Annotated(the "Authorizing Legislation"),to enter into the Agreement and to issue the bond; and
WHEREAS, the Bondholder may pledge the bond as collateral for the payment of
its revolving loan fund revenue bonds (the "ADFA Bonds"), which may be issued from time to
time, to the bank or trust company named as trustee for the ADFA Bonds (the "ADFA Trustee");
and
WHEREAS, the City is required to pay to the Arkansas Development Finance
Authority, as servicer(the "Authority"), a servicing fee equal to 1%per annum of the outstanding
principal amount of the bond(the "Servicing Fee");
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of
Batesville, Arkansas:
Section 1. The sale to the Bondholder of up to $110,000,000 in principal amount
of a bond from the City at a price of par for a bond bearing interest at the rate of 0.75%per annum
and otherwise subject to the terms and provisions hereafter in this Ordinance set forth in detail is
hereby approved and the bond is hereby sold to the Bondholder. The Mayor is hereby authorized
and directed to execute and deliver the Agreement on behalf of the City and to take all action
required on the part of the City to fulfill its obligations under the Agreement. The Agreement is
hereby approved in substantially the form submitted to this meeting, with such changes as may be
approved by the Mayor, his execution to constitute complete evidence of such approval.
Section 2. Under the authority of the Constitution and laws of the State of Arkansas
(the "State"), including particularly the Authorizing Legislation, a City of Batesville, Arkansas
Sales and Use Tax Bond, Series 2024C(the "bond")is hereby authorized and ordered issued in the
principal amount of up to $110,000,000. The proceeds from the sale of the bond are necessary to
finance all or a portion of the costs of the Improvements and pay expenses of issuing the bond.
The bond shall bear interest at the rate of 0.75% per annum based upon a 360-day
year of twelve consecutive 30-day months. The bond shall be dated the date of delivery to the
Bondholder. Interest shall be payable on the first day of each month after the bond is issued.
Commencing on May 1, 2028, principal shall be payable in monthly installments as set forth in
Exhibit A to the Agreement which is structured for the bond to be repaid in equal amortized
monthly installments of principal and interest over a 20 year period with the final payment due on
April 1, 2048.
The bond will be registered as to both principal and interest, payable to the
Bondholder,or registered assigns, as set forth hereinafter in the bond form,and shall be numbered
R-1.
Payment of principal and interest shall be by check or draft mailed to the
Bondholder at its address shown on the bond registration books of the City which shall be
maintained by the City Clerk as Bond Registrar, without presentation or surrender of the bond
(except upon final payment) and such payments shall discharge the obligation of the City to the
extent thereof. The City Clerk shall keep a payment record and make proper notations thereon of
all payments of principal and interest.
Payment of principal and interest shall be in any coin or currency of the United
States of America which, as at the time of payment, shall be legal tender for the payment of debts
due the United States of America. When the principal of and interest on the bond have been fully
paid, it shall be canceled and delivered to the City Clerk.
Section 3. The bond shall be executed on behalf of the City by the Mayor and City
Clerk and shall have impressed thereon the seal of the City. The bond is not a general obligation
of the City but is a special obligation,the principal of and interest on which, and Servicing Fee in
connection therewith, are secured by a pledge of and are payable from collections of the Tax,
which has been duly levied under Ordinance No.2023-05-04,adopted May 23,2023 (the "Pledged
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Revenues"). The bond and interest thereon shall not constitute an- indebtedness of the City within
any constitutional or statutory limitation.
Section 4. The bond shall be in substantially the following form, and the Mayor
and City Clerk are hereby authorized and directed to make all the recitals contained therein:
(form of bond)
UNITED STATES OF AMERICA
STATE OF ARKANSAS
COUNTY OF INDEPENDENCE
CITY OF BATESVILLE
0.75% SALES AND USE TAX BOND, SERIES 2024C
No. R-1 $110,000,000
KNOW ALL MEN BY THESE PRESENTS:
That the City of Batesville, Independence County, Arkansas (the "City"), for value
received, hereby acknowledges itself to owe and promises to pay to the Arkansas Development
Finance Authority, or registered assigns,the principal sum of
ONE HUNDRED TEN MILLION DOLLARS
(or the total principal amount outstanding as reflected
by the Record of Payment of Advances attached hereto)
with interest on the unpaid balance of the total principal amount at the rate of 0.75% per annum
from the date of each advance. The principal and interest shall be payable in such coin or currency
of the United States of America as at the time of payment shall be legal tender for the payment of
debts due the United States of America.
Interest on the unpaid balance of the total principal amount shall be payable on
1, 202_ and on the first day of each month thereafter. Principal shall be payable in
installments on May 1,2028 and on the first day of each month thereafter until the unpaid principal
is paid in full as shown on Exhibit A attached hereto.
Payments of the principal and interest installments due hereon shall be made,except
for final payment,without presentation and surrender of this bond,directly to the registered owner
at his address shown on the bond registration book of the City maintained by the City Clerk as
Bond Registrar, and such payments shall fully discharge the obligation of the City to the extent of
the payments so made.
This bond is issued to finance all or a portion of the costs of constructing extensions,
betterments and improvements to the water facilities of the City's water and sewer system and any
necessary demolition related thereto and to pay costs of authorizing and issuing this bond, and is
issued pursuant to and in full compliance with the Constitution and laws of the State of Arkansas
(the "State"), including particularly Amendment No. 62 to the Arkansas Constitution and Title 14,
Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Authorizing
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Legislation"), and pursuant to Ordinance No. of the City, duly adopted and approved on the
10th day of September, 2024 (the "Authorizing Ordinance") and an election duly held on August
8, 2023 at which the majority of the legal voters of the City voting on the question approved the
issuance of this bond. Reference is hereby made to the Authorizing Ordinance for the details of
the nature and extent of the security and of the rights and obligations of the City and the registered
owner of this bond.
This bond may be assigned with the written approval of the Arkansas Natural
Resources Commission (the "Commission"), and in order to effect such assignment the assignor
shall promptly notify the City Clerk by registered mail, and the assignee shall surrender this bond
along with a written approval of the Commission to the City Clerk for transfer on the registration
records. Every assignee shall take this bond subject to all payments and prepayments of principal
and interest (as reflected by the Payment Record maintained by the City Clerk), prior to such
surrender for transfer.
This bond does not constitute an indebtedness of the City within any constitutional
or statutory limitation or provision. This bond is a special obligation payable solely from a pledge
of collections of the 1% sales and use tax levied by the City pursuant to Ordinance No. 2023-05-
04 of the City duly adopted on May 23, 2023 under the authority of the Authorizing Legislation
(the "Tax"), and the City hereby pledges the collections of the Tax for the payment of this bond.
This bond may be prepaid, at the option of the City, in whole or in part at any time
from Tax collections in excess of the amount necessary to ensure the prompt payment of the
principal of and interest on this bond as the same becomes due at the prepayment price equal to
the principal amount being prepaid plus accrued interest and servicing fee to the prepayment date.
This bond may also be prepaid at the option of the City from funds from any other source,in whole
but not in part, at any time on and after October 15, 2034, at a prepayment price equal to the
principal amount outstanding,plus accrued interest and servicing fee to the prepayment date,upon
90 days' notice. Notice shall be given of each prepayment in writing mailed to the address of the
owner of this bond or registered assigns at the address as reflected on the bond registration books
of the City Clerk.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts,
conditions and things required by the Constitution and statutes of the State to exist,happen and be
performed precedent to and in the issuance of this bond do exist, have happened and have been
performed in regular and due time, form and manner as required by law; that this bond does not
exceed any constitutional or statutory limitation of indebtedness;and that provision has been made
for the payment of the principal of and interest on this bond, as provided in the Authorizing
Ordinance.
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IN WITNESS WHEREOF, the City of Batesville, Arkansas has caused this bond
to be executed in its name by its Mayor and City Clerk,thereunto duly authorized,and its corporate
seal to be affixed, all as of the day of , 2024.
CITY OF BATESVILLE, ARKANSAS
ATTEST:
By:
Mayor
City Clerk
(SEAL)
[A Registration Certificate and Record of Payment of Advances
shall be attached to the bond along with an Exhibit
setting forth the monthly principal amounts to be paid.]
Section 5. The City Treasurer shall be custodian of the Pledged Revenues and shall
give bond for the faithful discharge of his or her duties as such custodian, in an amount not less
than $250,000 per occurrence. All Pledged Revenues received by the City Treasurer shall be
deposited in such depository or depositories for the City as may be lawfully designated from time
to time by the City; provided that each depository must hold membership in the Federal Deposit
Insurance Corporation ("FDIC"). Any deposit in excess of the amount insured by FDIC shall be
secured by Government Obligations (as defined in Section 16 hereof).
Section 6. (a) The City Treasurer shall deposit all collections of the Tax received
prior to the issuance of the bond and all collections of the Tax as and when received thereafter into
a special fund of the City that is hereby created and designated"Sales and Use Tax Revenue Fund"
(the "Revenue Fund").
(b) In order to pay interest on the bond, the City Treasurer shall deposit from
moneys in the Revenue Fund into a special fund in the name of the City to be created by the
Bondholder and designated "Series 2024C" (the "ADFA Bond Fund") on the first day of each
month after the bond is issued and on the first day of each month thereafter until April 1,2028,the
interest due on the bond on such dates. Commencing on the first day of each month thereafter,
there shall be deposited into the ADFA Bond Fund from moneys in the Revenue Fund an amount
equal to principal of and interest on the bond due on such date. Moneys in the ADFA Bond Fund
shall be used to pay the principal of and interest on the bond when due.
(c) When the moneys held in the ADFA Bond Fund shall be and remain
sufficient to pay in full the principal of and interest on the bond, the City shall not be obligated to
make any further payments into the ADFA Bond Fund.
Section 7. After making the payments into the ADFA Bond Fund required by
Section 6 hereof, there shall be paid from the Revenue Fund the Servicing Fee to the Authority.
The Servicing Fee shall be payable on each date interest on the bond is due and shall be calculated
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on the same basis as interest on the bond. The payment of the Servicing Fee is expressly made
subordinate to the payment of the principal of and interest on the bond.
Section 8. Any balance in the Revenue Fund, after making the transfers required
by Sections 6 and 7 hereof, may be used to make prepayments of principal of the bond.
Section 9. The City hereby expressly pledges and appropriates all of the Pledged
Revenues to the payment of the principal of and interest on and Servicing Fee in connection with
the bond when due. This pledge in favor of the bond is hereby irrevocably made according to the
terms of this Ordinance, and the City and its officers and employees shall execute, perform and
carry out the terms thereof in strict conformity with the provisions of this Ordinance. The City
covenants that the Tax shall never be repealed or reduced while the bond is outstanding. The City
further covenants to use due diligence in collecting the Tax.
Section 10. The City shall assure that (i) not in excess of 10% of the proceeds of
the bond is used for Private Business Use if, in addition, the payment of more than 10% of the
principal or 10% of the interest due on the bond during the term thereof is, under the terms of the
bond or any underlying arrangement,directly or indirectly secured by any interest in property used
or to be used for a Private Business Use or in payments in respect of property used or to be used
for a Private Business Use or is to be derived from payments,whether or not to the City, in respect
of property or borrowed moneys used or to be used for a Private Business Use; and(ii)that, in the
event that both (A) in excess of 5% of the proceeds of the bond are used for a Private Business
Use, and (B) an amount in excess of 5% of the principal or 5% of the interest due on the bond
during the term thereof is, under the terms of the bond or any underlying arrangement, directly or
indirectly, secured by any interest in property used or to be used for a Private Business Use or in
payments in respect of property used or to be used for a Private Business Use or is to be derived
from payments, whether or not to the City, in respect of property or borrowed money used or to
be used for a Private Business Use,then the excess over said 5% of proceeds of the bond used for
a Private Business Use shall be used for a Private Business Use related to the governmental use of
the Improvements.
The City shall assure that not in excess of 5%of the proceeds of the bond are used,
directly or indirectly, to make or finance a loan to persons other than state or local governmental
units.
As used in this Section, "Private Business Use" means use directly or indirectly in
a trade or business carried on by a natural person or in any activity carried on by a person other
than a natural person, excluding, however, use by a state or local governmental unit and use as a
member of the general public.
The City covenants that it will not enter into any wholesale water contracts with
non-governmental entities or modify existing wholesale water contracts with non-governmental
entities for the sale of water by the City if such contracts or modifications of existing contracts
will cause a violation of this Section.
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Section 11. The principal and interest installments shall be prepayable prior to
maturity as provided in the bond form in Section 4 hereof
Section 12. The City shall not issue or attempt to issue any additional obligations
having or claimed to be entitled to a lien on or pledge of the Pledged Revenues.
Section 13. It is covenanted by the City with the Bondholder and the Commission
that it will faithfully and punctually perform all duties with reference to the Tax required by the
Constitution and laws of the State and by this Ordinance, including, without limitation, the
collection of the Tax and applying the Pledged Revenues to the respective funds maintained
pursuant to this Ordinance.
If there be any default in the payment of the principal of or interest on the bond, or
if the City defaults in any ADFA Bond Fund requirement or in the performance of any of the other
covenants contained in this Ordinance, the Bondholder may, by proper suit, compel the
performance of the duties of the officials of the City under the laws of the State. No remedy herein
conferred upon or reserved to the Bondholder is intended to be exclusive of any other remedy or
remedies herein provided or provided by law,and every such remedy shall be cumulative and shall
be in addition to every other remedy given hereunder or given by law. No delay or omission of
the Bondholder to exercise any right or power accrued upon any default shall impair any such right
or power or shall be construed to be a waiver of any default or an acquiescence therein; and every
power and remedy given by this Ordinance to the Bondholder may be exercised from time to time
and as often as may be deemed expedient.
No waiver of any default shall extend to or affect any other existing or any
subsequent default or defaults or impair any rights or remedies consequent thereon. Any costs of
enforcement of the bond or of any provision of this Ordinance, including reasonable attorney's
fees, shall be paid by the City. The Authority may enforce all rights and exercise all remedies
available to the Bondholder in the event the Servicing Fee is not paid when due.
Section 14. When the bond has been executed and sealed as herein provided, it
shall be delivered to the Bondholder upon payment of all or a portion of the purchase price in
accordance with the Agreement.
The sale proceeds shall be deposited, as and when received, into a special fund of
the City in a bank selected by the City that is a member of the FDIC which is hereby created and
designated "2024C Water Construction Fund" (the "Construction Fund"). The moneys in the
Construction Fund shall be used for directly paying, or reimbursing the City for, the costs paid in
accomplishing the Improvements and the expenses of issuing the bond approved in accordance
with the Agreement. Payments from the Construction Fund shall be by check or voucher signed
by the Mayor and the City Treasurer, and drawn on the depository. Each such check or voucher
shall briefly specify the purpose of the expenditure.
When the Improvements have been completed and all required expenses paid and
expenditures made from the Construction Fund for and in connection with the accomplishment of
the Improvements and the financing thereof,this fact shall be evidenced by a certificate signed by
the Mayor and by the consulting engineer, which certificate shall state, among other things, the
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date of the completion and that all obligations payable from the Construction Fund have been
discharged. A copy of the certificate shall be filed with the depository bank, the Bondholder and
the Commission.
Section 15. In addition to paying the principal of, interest on and Servicing Fee in
connection with the bond, moneys in the Revenue Fund may be used to prepay all or a portion of
the outstanding principal of the bond.
Section 16. (a) Moneys held for the credit of all funds created by this Ordinance
shall,as nearly as may be practicable,be continuously invested and reinvested in direct obligations
of, or obligations the principal of and interest on which are fully guaranteed by, the United States
Government ("Government Obligations"), or other investments as may be from time to time
authorized by law, which mature or which shall be subject to redemption by the holder, at the
option of such holder, not later than the date or dates when the moneys will be needed for the
purposes intended.
(b) Obligations so purchased as an investment of moneys in any such fund shall
be deemed at all times to be a part of such fund, and the interest accruing thereon and any profit
realized from such investment shall be credited to such fund, and any loss resulting from such
investment shall be charged to such fund.
(c) Moneys so invested in Government Obligations need not be secured by the
depository bank.
Section 17. The terms of this Ordinance shall constitute a contract between the
City,the Bondholder and the Commission and no variation or change in the undertaking herein set
forth shall be made while the bond is outstanding unless consented to in writing by the Bondholder
and the Commission.
Section 18. The City will keep or cause to be kept proper books of accounts and
records (separate from all other accounts and records) in which complete and correct entries shall
be made of all transactions relating to the Pledged Revenues and such books shall be available for
inspection by the Bondholder and the Commission at reasonable times and under reasonable
circumstances. The City shall annually furnish(a)a report to the Bondholder and the Commission
of all receipts and disbursements of the Pledged Revenues received by the City and (b) a copy of
the audited financial statements of the City which shall reflect the receipt and disbursement of the
Pledged Revenues for the year on which the report is issued.
Section 19. The City agrees that the Bondholder may pledge the bond as security
for the ADFA Bonds, and the ADFA Trustee and/or the municipal bond insurer for the ADFA
Bonds may exercise any rights and remedies available to the Bondholder under this Ordinance or
the Agreement while the bond is pledged and/or the ADFA Bonds are insured. In addition, the
City agrees that while the bond is pledged and/or the ADFA Bonds are insured, copies of all
financial information shall be furnished to the ADFA Trustee and/or the municipal bond insurer.
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Section 20. A copy of the Agreement shall be filed in the office of the City Clerk
where it may be inspected by any interested person.
Section 21. In the event the office of Mayor, City Clerk, City Treasurer or City
Council shall be abolished, or any two or more of such offices shall be merged or consolidated, or
in the event the duties of a particular office shall be transferred to another office or officer, or in
the event of a vacancy in any such office by reason of death, resignation, removal from office or
otherwise, or in the event any such officer shall become incapable of performing the duties of his
or her office by reason of sickness, absence from the City or otherwise, all powers conferred and
all obligations and duties imposed upon such office or officer shall be performed by the office or
officer succeeding to the principal functions thereof, or by the office or officer upon whom such
powers, obligations and duties shall be imposed by law.
Section 22. The provisions of this Ordinance are hereby declared to be severable,
and if any provision shall for any reason be held illegal or invalid, it shall not affect the validity of
the remainder of this Ordinance.
Section 23. References in this Ordinance to "Bondholder" shall include the original
Bondholder or any registered assign thereof.
Section 24. All ordinances and resolutions and parts thereof in conflict herewith
are hereby repealed to the extent of such conflict.
PASSED: September 10, 2024.
APPROVED:
ATTEST:-
ity Cl
(SEAL)
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CERTIFICATE
The undersigned, City Clerk of Batesville, Arkansas, hereby certifies that the
foregoing pages are a true and perfect copy of Ordinance NoA,44*sed at a regular session
of the City Council of Batesville, Arkansas, held at the regular meeting place of the City Council
at 5:30 o'clock p.m., on the loth day of September, 2024, and that the Ordinance is of record in
Ordinance Record Book No. , Page now in my possession.
GIVEN under my hand and seal this 10th day of September, 2024.
City Cl
(SEAL)
BOND PURCHASE AGREEMENT
City of Batesville,Arkansas September 10,2024
Attention: Mayor
Ladies and Gentlemen:
Certain terms used in this Bond Purchase Agreement are defined as follows:
Issuer: City of Batesville,Arkansas
Principal Amount: $110,000,000
Interest Rate: 0.75%
Servicing Fee 1.0% per annum of the outstanding principal amount of the Bond (see
Exhibit A)
Bond: City of Batesville,Arkansas Sales and Use Tax Bond,Series 2024C
Bond Counsel: Friday,Eldredge&Clark,LLP
Bond Ordinance: Ordinance No. of the Issuer, adopted September 10, 2024, under
which the Bond is to be issued and secured.
Tax Ordinance: Ordinance No.2023-05-04 of the Issuer,adopted May 23,2023,levying the
Tax.
Tax: The sales and use tax levied by the Issuer at the rate of 1%for the payment
of the Bond.
Administrative Fee: $-0-
Issuer's Notice City of Batesville,Arkansas
Address: 500 E.Main St.
Batesville,Arkansas 72501
Attn: Mayor
Closing: 10:00 am.,prevailing local time,on October 22,2024,or at such other time
or on such earlier or later date as is mutually agreed upon,at the offices of
Bond Counsel in Little Rock,Arkansas.
Authorizing Title 14,Chapter 164,Subchapter 3 of the Arkansas Code of 1987
Legislation: Annotated
Disbursement
Cut-Off Date: April 1,2028
The Arkansas Natural Resources Commission (the "Commission") and the
Arkansas Development Finance Authority(the"Authority")hereby offer to enter into this Bond
Purchase Agreement(the "Agreement")with you,the Issuer, for the purchase by the Authority
from moneys in the Drinking Water State Revolving Loan Fund Account, created by Arkansas
Code Annotated Section 15-22-1102,as the same may be amended from time to time,including
the Drinking Water Loan Account being held in connection with the Authority's Revolving Loan
Fund Revenue Bonds(the"Revolving Loan Fund"),and the sale by you of the Bond of the Issuer
more particularly described below. Upon approval by you and by the execution of the acceptance
hereof by the Mayor of the Issuer,this Agreement shall be in full force and effect in accordance
with its terms and shall be valid,binding,and enforceable upon the Issuer,the Commission,and
the Authority.
Further terms of this Agreement are:
1. Upon the terms and conditions and upon the basis of the representations
herein set forth,the Authority hereby agrees to purchase from the Issuer and the Issuer hereby
agrees to sell to the Authority the entire Principal Amount of the Bond to be issued under and
secured by the Bond Ordinance.
2. The Bond is being issued for the purpose of financing all or a portion of the
costs of extensions,betterments and improvements to the water facilities described in the plan and
specifications furnished by the Issuer to and concurred with by the Commission,and any necessary
demolition related thereto(the "Project"), paying costs incidental thereto, and paying approved
expenses incurred in connection with the issuance of the Bond. The proceeds of the Bond(as
hereinafter defined)are expected to be used as set forth in Exhibit B.
3. The Bond and the Servicing Fee shall be secured by a pledge of and payable
from Tax collections,subject to the terms of the Bond Ordinance.
4. The Bond shall be dated the date of the Closing. The Bond shall be
authorized in an amount up to the Principal Amount identified above,and shall bear interest at the
Interest Rate identified above. Principal and interest shall be amortized in accordance with the
schedule set forth on Exhibit A attached hereto (which is based upon monthly repayment of
principal and interest commencing on May 1, 2028 and a 20 year amortization), and the Issuer
shall pay to the Authority interest on the Bond on the first day of the month after the Bond is issued
and on the first day of each month thereafter to and including the Disbursement Cut-off Date. In
addition to the payment of the principal and interest on the Bond,the Issuer shall be obligated to
pay the Servicing Fee to the Authority. The Servicing Fee shall be payable in the same manner
and on the same dates as interest on the Bond is due. The payment of the Servicing Fee is expressly
made subordinate to the payment of the principal of and interest on the Bond. The Issuer agrees
that any delay in completion of the Project beyond the Disbursement Cut-Off Date shall not result
in any extension of the date on which principal and interest payments are to be made on the Bond.
The Bond shall be subject to redemption prior to maturity, shall be payable, and shall be as
otherwise described in the Bond Ordinance. Interest on the Bond shall not be excludable from
gross income for federal income tax purposes.
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5. The Issuer recognizes that the Authority and the Commission shall be under
no obligation to provide any funds to the Issuer other than the proceeds of the Bond. If,for any
reason, the Issuer does not utilize the entire Bond proceeds, then in such event the Principal
Amount of the Bond will be reduced to the amount actually withdrawn. Any reduction of the Bond
pursuant to this provision shall result in pro rata reductions of the remaining installments of
principal so that the weighted average life of the Bond immediately following any such reduction
shall be substantially equal to the weighted average life of the Bond immediately prior to such
reduction. The Authority agrees to accept,or cause the registered owner of the Bond to accept,a
new Bond from the Issuer reflecting the revised payment schedule.
6. Subject to the terns and conditions and upon the basis of the representations
herein set forth,the Authority hereby agrees to purchase the Bond from the Issuer in installments
from time to time from moneys in the Revolving Loan Fund in an amount up to the Principal
Amount,and the Issuer hereby agrees to sell the Bond to the Authority at a price of 100 percent of
the Principal Amount of the Bond purchased from time to time.The purchase price for the Bond
shall be paid in a series of advances in accordance with the provisions of paragraph 7. The initial
advance of the purchase price shall take place at the Closing. At the Closing, the Issuer will
deliver,or cause to be delivered,to the Authority a single typewritten bond,duly executed and
authenticated,together with the other documents herein required, and the Authority will accept
delivery and make the initial advance of the purchase price of the Bond by wire transfer of
immediately available funds or by certified or official bank cashier's check as directed by the
Issuer. If the Closing and the initial advance do not occur within 180 days from the date hereof,
then the Authority's obligation to purchase the Bond is terminated.
7. So long as the Issuer is in compliance with the terms and provisions of this
Agreement and the Bond Ordinance and the representations and warranties of the Issuer made
herein remain true and correct, the Authority agrees to make, and the Commission agrees to
approve advances of the purchase price of the Bond ("Disbursements") from moneys in the
Revolving Loan Fund as follows:
(a) Disbursements shall only be made based upon actual work completed;
(b) The Issuer may request reimbursement for costs not more often than
monthly, provided,however,during the Project performance period requests for reimbursement
shall be limited to quarterly;
(c) Disbursements shall be for costs incurred prior to the Disbursement Cut-Off
Date,and no Disbursements shall be made following the Disbursement Cut-Off Date;
(d) Disbursements shall be made for eligible work called for in the engineering
services contract and in the plans and specifications approved by the Commission and Bond
issuance costs eligible under Title XV of the Rules of the Commission Governing Loans for the
Safe Drinking Water Fund,as now or hereafter amended("Title XV Rules");and
3
(e) All requests for Disbursements must be made in accordance with Title XV
Rules and shall be made by forwarding a completed copy of a Disbursement Request,in the form
attached as Exhibit C hereto,to the Commission,along with the documentation for eligible Project
costs incurred since the last Disbursement Request and not previously submitted.
8. The parties hereto acknowledge that the Authority may pledge the Bond to
secure payment of the Authority's revolving loan fund revenue bonds to be issued from time to
time (the "ADFA Bonds"). The Authority agrees not to make any other transfer or attempt to
transfer the Bond without the prior written consent of the Commission and without written
disclosure to the transferee that the interest on the Bond is includable in gross income for federal
income tax purposes. Upon transfer of the Bond,the Authority and the Commission may assign
their rights hereunder to the new owner of the Bond without consent of the Issuer.
9. The Issuer agrees to pay the Authority at the Closing the Administrative
Fee,which fee may be paid from Bond proceeds at the option of the Issuer.
10. The Issuer represents and warrants to,and agrees with,the Authority and
the Commission that:
(a) The Issuer is a city of the first class,duly organized and existing under the
laws of the State of Arkansas,and has,and at the date of Closing will have,full legal right,power,
and authority (i) to enter into this Agreement, (ii) to adopt the Bond Ordinance and the Tax
Ordinance,(iii)to issue,sell,and deliver the Bond to the Authority as provided herein,(iv)to levy
the Tax and pledge the collections of the Tax,and(v)to carry out and consummate the transactions
contemplated by this Agreement and the Bond Ordinance;
(b) The Issuer has complied,and will at the date of Closing be in compliance,
in all respects,with the Authorizing Legislation;
(c) By adoption of the Bond Ordinance pursuant to the Authorizing Legislation,
the Issuer has duly authorized and approved the execution and delivery of,and the performance
by the Issuer of the obligations contained in,the Bond and this Agreement and,when delivered to
and paid for by the Authority at the Closing in accordance with the provisions of this Agreement,
the Bond will have been duly authorized,executed,issued,and delivered and will constitute a valid
and binding obligation of the Issuer in accordance with its terms, in conformity with the
Authorizing Legislation,entitled to the benefit and security of the Bond Ordinance;
(d) The execution and delivery of this Agreement and the Bond,the adoption
of the Bond Ordinance and the Tax Ordinance,the levy of the Tax,the pledge of the collections
of the Tax to the Bond,and the carrying out and consummation of the transactions contemplated
by this Agreement and the Bond Ordinance will not conflict with or constitute a breach of or
default under any applicable law or administrative regulation of the State of Arkansas or the United
States or any judgment or decree or any agreement or other instrument to which the Issuer is a
party or is otherwise subject;
(e) There is no action, suit, proceeding, or investigation involving the Issuer
before or by any court,public board,or body pending or,to the knowledge of the Issuer,threatened
wherein an unfavorable decision, ruling, or finding would: (i)affect the creation, organization,
4
existence,or powers of the Issuer or the titles of its officials to their offices,(ii)enjoin or restrain
the issuance,sale,and delivery of the Bond,the levy of the Tax,or the pledge of Tax collections,
(iii)in any way question or affect any of the rights,powers,duties,or obligations of the Issuer with
respect to the Tax collections,(iv)in any way question or affect any authority for the issuance of
the Bond or the validity or enforceability of the Bond,the Bond Ordinance or the Tax Ordinance,
or (v) in any way question or affect this Agreement or the transactions contemplated by this
Agreement,or any other agreement or instrument relating thereto to which the Issuer is a party;
(f) The Tax has been duly levied under the Authorizing Legislation and the Tax
Ordinance,and the Tax collections have been duly pledged to the payment of the Bond under the
Bond Ordinance pursuant to the authority granted by the Authorizing Legislation;and
(g) The Issuer will promptly remit each Disbursement to the person or persons
to whom payment is then due and owing.
11. The Issuer covenants and agrees with the Commission and the Authority:
(a) To comply with all applicable Arkansas and federal statutes and regulations,
including particularly,without limitation,Title XV Rules.
(b) To utilize and expend the proceeds of the Bond in a timely and expeditious
manner by:(1)utilizing Bond proceeds for eligible Project costs and approved issuance costs,(2)
proceeding expeditiously with and completing the Project, and (3) completing all facilities
recommended in the approved facilities plan;
(c) To establish and maintain adequate financial records for the Project in
accordance with "generally accepted governmental accounting standards" defined as, but not
limited to,those contained in the U.S.General Accounting Office(GAO)publication"Standards
for Audit of Governmental Organizations, Programs, Activities and Functions" (February 27,
1981),and make these records available to the Commission or its authorized representatives;
(d) To undertake the Project on its own responsibility and release and hold
harmless the Commission and the Authority,and their officers,members,directors and employees,
from any claim arising in connection with the design,construction,or operation of the Project or
any other aspect of the water facilities of the Issuer,including any matter due solely to their own
negligence;
(e) To comply with all terms and conditions of any construction contracts,
architectural or engineering agreements, and other agreements to which the Issuer is a party
affecting the Project,the premises of the water facilities of the Issuer, and its operations and to
require or cause to be required its construction contractor to fumish both a performance bond and
payment bond in the full amount of the construction contract for the Project;
(f) To become familiar with and comply with all federal and state laws
pertaining to equal employment opportunities ensuring that all engineers and contractors for the
Project do not discriminate against any person on the basis of race, color, religion, sex, age,
national origin,or handicap;
5
(g) To maintain and operate the Issuer's water facilities in a sound and
economical manner and in accordance with standards as may be required or prescribed by federal,
state,or local regulatory agencies;
(h) To obtain review and make a determination that the Project is in compliance
with the Arkansas Water Plan;and
(i) To comply with the federal requirements set forth in Exhibit D attached
hereto unless such requirements are waived by the Commission and the Environmental Protection
Agency. (For purposes of Exhibit D,the term"Borrower"therein shall have the same meaning as
the term"Issuer"herein.)
12. The Issuer covenants and agrees with the Authority as follows:
(a) For purposes of this paragraph,the following terms shall have the meanings
set forth below.
"Financial Obligation"shall mean a
(i) debt obligation;
(ii) derivative instrument entered into in connection with, or
pledged as security or a source of payment for,an existing or planned debt
obligation;or
(iii) guarantee of obligations described in(i)or(ii).
The term Financial Obligation shall not include municipal securities as to
which a final official statement has been provided to the Municipal Securities
Rulemaking Board consistent with Rule 150-12.
"Rule 15c2-12" shall mean Rule 15c2-12 adopted by the Securities and
Exchange Commission under the Securities Exchange Act of 1934, as the same
may be amended from time to time(17 C.F.R.,Part 240§240.15c2-12).
"Obligated Person"shall mean any person who is committed by contract or
other arrangement to support payments in a sum equal to twenty percent(20%)or
more of the aggregate payments of the loans,including the Bond,which comprise
the Revolving Loan Funds administered by the Authority,and which are pledged
as security for ADFA Bonds.
(b) If,during any fiscal year of the Authority,the outstanding obligations of the
Issuer under the terms of the Bond shall cause the Issuer to be deemed an Obligated Person,and
unless in the opinion of bond counsel for the ADFA Bonds an exemption from Rule 15c2-12 is
then available,the Issuer shall,upon notice from the Authority,within 120 days after the close of
each fiscal year of the Authority,furnish the Authority(i)a copy of the latest financial statements
of the Issuer(or the System if separately audited)prepared in accordance with generally accepted
government accounting standards and audited by its independent auditors(or,if not available as
6
of such date,the latest unaudited financial statements of the Issuer(or the System if separately
audited) and, as soon thereafter as available, the audited financial statements) and (ii) such
financial information and operating data relating to the Issuer and the System as agreed to by the
Issuer and the Authority.
(c) The Issuer shall provide to the Authority,within five(5)business days after
the occurrence thereof,notice of any of the following events with respect to the Bond:
(i) any principal or interest payment delinquency with respect to the
Bond;
(ii) any non-payment related default under the Bond Ordinance, the
Bond or this Agreement,if material;
(iii) any event that would cause the Bond to be a"private activity bond"
under the Internal Revenue Code of 1986,as amended;
(iv) any release, substitution or sale of property securing repayment of
the Bond,if material;
(v) bankruptcy,insolvency,receivership or similar event of the Issuer;
(vi) the consummation of a merger, consolidation or acquisition
involving the Issuer or the sale of all or substantially all of the assets of the Issuer,
other than in the ordinary course of business,the entry into a definitive agreement
to undertake such action or the termination of a definitive agreement relating to any
such actions,other than pursuant to its terms,if material.
(vii) incurrence of a Financial Obligation if material, or agreement to
covenants,events of default,remedies, priority rights,or other similar terms of a
Financial Obligation,any of which affect owners of the ADFA Bonds,if material;
and
(viii) default, event of acceleration, termination event, modification of
terms, or other similar events under the terms of a Financial Obligation, any of
which reflect financial difficulties.
(d) The Issuer's obligations under this paragraph shall terminate upon the prior
redemption or payment in full of the Bond.
(e) Nothing in this paragraph shall be deemed to prevent the Issuer from
disseminating any other information,or including any other information in any notice or report
made hereunder,in addition to that which is specifically required by this paragraph. If the Issuer
chooses to include any information in any report or notice made hereunder in addition to that which
is specifically required by this paragraph,the Issuer shall have no obligation hereunder to update
such information or include it in any future report or notice.
7
(f) The reporting requirements set forth in this Agreement are in addition to
any financial reporting requirements set forth in the Bond Ordinance.
13. The Authority and the Commission have entered into this Agreement in
reliance upon the representations and agreements of the Issuer herein and the performance by the
Issuer of its obligations hereunder,both as of the date hereof and as of the date of the Closing. The
obligation of the Authority and the Commission under this Agreement are and shall be subject to
the following further conditions:
(a) At the Closing,the Bond Ordinance and the Tax Ordinance shall be in full
force and effect and shall not have been amended,modified,or supplemented after the date hereof
except as may have been agreed to by the Authority and the Commission,and the Issuer shall have
duly adopted and there shall be in full force and effect such other ordinances and resolutions as,in
the opinion of Bond Counsel and the Commission, shall be necessary in connection with the
transactions contemplated hereby.
(b) The representations and warranties of the Issuer contained herein shall be
true,complete,and correct on the date hereof and on and as of the date of the Closing,as if made
on and as of the date of the Closing.
(c) At or prior to the Closing,the Commission and the Authority shall have
received the following:
(1) The Bond Ordinance and the Tax Ordinance,certified by the Issuer
under its seal as having been duly adopted and as being in full force and effect,with
only such amendments as may have been agreed to by the Commission and the
Authority;
(2) An unqualified approving opinion,dated the date of the Closing,of
Bond Counsel, in form and substance satisfactory to the Commission and the
Authority,to the effect that:
(i) the Issuer is duly created and validly existing as a city of the
first class of the State of Arkansas, with the power to adopt the Bond
Ordinance and the Tax Ordinance, perform the agreements on its part
contained in the Bond Ordinance,and issue the Bond;
(ii) the Bond has been duly authorized and issued by the Issuer
and is a valid and binding special obligation of the Issuer enforceable in
accordance with its terms;
(iii) the Bond is secured by an irrevocable pledge of and lien on
the Tax collections as provided in the Bond Ordinance, which pledge is
valid and enforceable;and
(iv) the interest on the Bond is exempt from all Arkansas state,
county,and municipal taxes;
8
(3) A supplemental opinion, dated the date of Closing, of Bond
Counsel,in form and substance satisfactory to the Commission and the Authority,
to the effect that(i)the Bond and the Bond Ordinance conform in both form and
tenor to the provisions relating thereto summarized in the Term Sheet attached to
the Memorandum of Agreement for the Project, (ii) if the Bond was being
purchased on a tax-exempt basis,the Bond would not constitute a"private activity
bond"within the meaning of Section 141 of the Internal Revenue Code of 1986,as
amended,and(iii)the Agreement has been authorized,executed and delivered by
the Issuer and is a binding and enforceable agreement of the Issuer enforceable in
accordance with its terms,and covering such other matters as may be reasonably
requested by the Authority and the Commission;
(4) A certificate dated the date of the Closing and signed by the Mayor
and the City Clerk of the Issuer, to the effect that: (i) the representations and
warranties of the Issuer contained herein are true and correct in all material respects
on and as of the date of the Closing as if made on the date of the Closing,(ii)the
Issuer has complied with all agreements and covenants and satisfied all conditions
on its part to be complied with or satisfied at or prior to the Closing,and(iii)the
collections of the Tax have not been pledged to any other debt of the Issuer;
(5) A transcript of all proceedings relating to the authorization and
issuance of the Bond;and
(6) Such additional legal opinions, certificates, proceedings,
instruments, and other documents as the Commission, the Authority, and Bond
Counsel may reasonably request to evidence compliance by the Issuer with legal
requirements, the truth and accuracy, as of the time of Closing, of the
representations of the Issuer herein contained, and the due performance or
satisfaction by the Issuer at or prior to such time of all agreements then to be
performed and all conditions then to be satisfied by the Issuer.
All of the opinions, letters, certificates, instruments, and other documents
mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the
provisions hereof if,but only if,they are in form and substance satisfactory to the Commission
and the Authority. The performance of any and all obligations of the Issuer under this Agreement
and the performance of any and all conditions contained herein for the benefit of the Authority and
the Commission may be waived by the Authority and the Commission in their sole discretion.
9
14. All notices, demands, and formal actions hereunder will be in writing
mailed,telegraphed,or delivered to the parties at the following addresses:
The Issuer: Issuer's Notice Address
The Commission: Arkansas Natural Resources Commission
10421 West Markham
Little Rock,Arkansas 72205
Attention:Zach Smith
The Authority: Arkansas Development Finance Authority
1 Commerce Way,Suite 602
Little Rock,Arkansas 72202
Attention:President
15. The Issuer shall not purchase any of the ADFA Bonds or any other bonds
issued for the purpose of providing funds to the Authority for the purchase of the Bond.
16. All representations and warranties of the Issuer contained herein shall
remain operative and in full force and shall survive (a) the execution and delivery of this
Agreement,(b)any investigation made by or on behalf of the Commission or the Authority,(c)
the purchase of the Bond hereunder,and(d)any disposition of or payment for the Bond.
17. Any audit or review of plans and specifications and any inspection of the
work shall be for the Commission's convenience only in order to determine that they are within
the approved scope of the Project. No such review and inspection,approvals,and disapprovals
shall be an undertaking by the Commission of responsibility for design or construction.
18. Neither the Commission nor the Authority is a partner,joint venturer,or in
any other way a party to the Project or the operation of the water facilities of the Issuer. Neither
the Commission nor the Authority shall in any way be liable or responsible by reason of the
provisions hereof to the Issuer or any third party for the payment of any claims in connection
therewith.
19. This Agreement may be executed in any number of counterparts with each
executed counterpart constituting an original but all of which together shall constitute one and the
same instrument.
20. This Agreement will inure to the benefit of and be binding upon the parties
hereto and their successors and will not confer any rights upon any other person. This Agreement
shall be governed by and construed in accordance with the laws of the State of Arkansas.
10
ARKANSAS NATURAL RESOURCES COMMISSION
By
Authorized Representative
ARKANSAS DEVELOPMENT FINANCE
AUTHORITY
By
President
ACCEPTED this loth day of September,2024.
CITY OF BATESVILLE,ARKANSAS
By
Mayor
11
EXHIBIT A
AMORTIZATION SCHEDULE
A-1
EXHIBIT B
USES OF FUNDS
Item Costs
Local Loan Expenses $ 77,000
Engineering Services 8,700,000
Construction and Contingency 101,223,000
PRINCIPAL AMOUNT OF BOND: $110,000,000
B-1
EXHIBIT C
ENABLE DISBURSEMENT REQUEST COVER SHEET
Arkansas Natural Resources Division
Recipient:
Employer ID No.: _
En ABLE Project Number: Project Percent Complete:
Loan Number(s): Request Number:
Please list all invoices submitted in EnABLE for reimbursement by company
Itmoim { Eligible Amount
No Name Number tnvoice Date invoice Amount requested for
reimbursement
IS
2
3
4
5
6
� 7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27 --
28
29
30
TOTAL $
Speat�re afConwnmyinrmee mt Consu4am once sere::
1 certify that to the best of my knowledge,the invoices listed above and submiled for
reimbursement in EnABLE accurately reflect the total eligible amount due to date and that
all costs requested are in accordance with the terms of the bond purchase agreement,loan ryp ym u se-Kprenew.maer
agreement or grant agreement and relevant regulations. I further certify that all work has
been inspected and performed in accordance with program requirements.
brad eao¢s
C-I
EXHIBIT D
REQUIRED FEDERAL CONDITIONS FOR SRF LOANS
(as of 1/12/23)
Accounting Standards
The Borrower shall establish and maintain an accounting system and internal controls which
will ensure the recording and safeguarding of all project activities in accordance with
Generally Accepted Accounting Principles(GAAP) as promulgated by the Governmental
Accounting Standards Board (GASB). The Borrower shall maintain separate accounting
records for the project accounts in accordance with the CWSRF regulation 40 CFR
35.3135(i)or the DWSRF regulation 40 CFR 35.3550(i)as appropriate.
OMB—Uniform Guidance Subpart F Audits
In accordance with 2 CFR 200.501(a),the Borrower hereby agrees to obtain a single audit
from an independent auditor,if their organization expends$750,000 or more in total Federal
funds in their fiscal year beginning on or after December 26, 2014. The Borrower must
submit the form SF-SAC and a Single Audit Report Package within 9 months of the end of
the Borrower's fiscal year or 30 days after receiving the report from an independent auditor.
The SF-SAC and a Single Audit Report Package MUST be submitted using the Federal Audit
Clearinghouse's Internet Data Entry System available at: https://facides.census.gov/ . For
complete information on how to accomplish the single audit submissions,you will need to
visit the Federal Audit Clearinghouse Web site:b=s:Hfacweb.census.gov/
Note: The FAC will transition from the U.S.Census Bureau(Census)to the U.S. General
Services Administration(GSA)on October 1,2023.At that time,all submissions will need
to be made through the new FAC hosted by GSA.Any draft not fully submitted to the Census
FAC by October 1,2023,may need to be completely re-started at the new GSA FAC.Click
here to access/bookmark the future GSA FAC site,and get updates about the transition.
Wade Rate Reauirements(Davis-Bacon Act):
The Borrower agrees to include in all agreements to provide assistance for any construction
project carried out in whole or in part with such assistance made available by either a State
water pollution control revolving fund as authorized by title VI of the Federal Water
Pollution Control Act(33 U.S.C. 1381 et seq.)or with such assistance made available under
section 205(m) of that Act(33 U.S.C. 1285(m)), or both, a term and condition requiring
compliance with the requirements of section 513 of that Act(33 U.S.C. 1372);or a drinking
water revolving loan fund as authorized by section 1452 of the Safe Drinking Water Act(42
U.S.C.300j-12),a term and condition requiring compliance with the requirements of section
1450(e)of the Safe Drinking Water Act(42 U.S.C.300j-9(e))in all procurement contracts
and sub-grants, and require that loan recipients,procurement contractors and sub-grantees
include such a term and condition in subcontracts and other lower tiered transactions. All
contracts and subcontracts for any construction project carried out in whole or in part with
assistance made available as stated herein shall insert in full in any contract in excess of
$2,000 the contract clauses as attached hereto entitled"Wage Rate Requirements Under The
D-1
Clean Water Act,Section 513 and the Safe Drinking Water Act,Section 1450(e)."This term
and condition applies to all agreements to provide assistance under the authorities referenced
herein,whether in the form of a loan,bond purchase,grant,or any other vehicle to provide
financing for a project,where such agreements are executed on or after October 30,2009.
See "Attachment A"for the Davis Bacon wage rate requirements.
Responsibilities of Participants Re¢ardina Doin¢Business with Other Persons(Debarment)
Borrower shall fully comply with Subpart C of 2 C.F.R.Part 180 entitled,"Responsibilities
of Participants Regarding Transactions Doing Business with Other Persons,"as implemented
and supplemented by 2 C.F.R.Part 1532.Borrower is responsible for ensuring that any lower
tier covered transaction,as described in Subpart B of 2 C.F.R. Part 180,entitled"Covered
Transactions,"and 2 C.F.R. § 1532.220,includes a term or condition requiring compliance
with 2 C.F.R.Part 180,Subpart C.Borrower is responsible for further requiring the inclusion
of a similar term and condition in any subsequent lower tier covered transactions.Borrower
acknowledges that failing to disclose the information required under 2 C.F.R. § 180.335 to
the EPA office that is entering into the transaction with the Borrower may result in the delay
or negation of this assistance agreement,or pursuance of administrative remedies,including
suspension and debarment. Borrowers may access the System for Award Management
(SAM)exclusion list at https:Hsam.gov/SAM/to determine whether an entity or individual
is presently excluded or disqualified.
Utilization of Disadvantaeed,Minority and Women's Business Enterprises
The Borrower agrees to comply with the requirements of EPA's Program for Utilization of
Disadvantaged, Minority and Women's Business Enterprises (DBE/MBE/WBE) in
procurement under assistance agreements,contained in 40 CFR Part 33. This includes the
contract administration provisions of 40 CFR 33.302.
GOOD FAITH EFFORTS,40 CFR,Part 33,Subpart C
Pursuant to 40 CFR,Section 33.301,the Borrower agrees to make the following good faith
efforts whenever procuring construction, equipment, services and supplies under an EPA
financial assistance agreement,and to require that prime contractors also comply. Records
documenting compliance with the six good faith efforts shall be retained.
(a) Require DBEs are made aware of contracting opportunities to the fullest extent
practicable through outreach and recruitment activities. For Indian Tribal, State and
Local and Government recipients,this will include placing DBEs on solicitation lists
and soliciting them whenever they are potential sources.
(b) Make information on forthcoming opportunities available to DBEs and arrange time
frames for contracts and establish delivery schedules,where the requirements permit,
in a way that encourages and facilitates participation by DBEs in the competitive
process.This includes, whenever possible,posting solicitations for bids or proposals
for a minimum of 30 calendar days before the bid or proposal closing date.
D-2
(c) Consider in the contracting process whether firms competing for large contracts could
subcontract with DBEs.For Indian Tribal,State and local Government recipients,this
will include dividing total requirements when economically feasible into smaller tasks
or quantities to permit maximum participation by DBEs in the competitive process. Commented[11:@Keith sanders will this work to resole not
receiving reports at the end of the project...so they report regardless
(d) Encourage contracting with a consortium of DBEs when a contract is too large for one of the activity... J
Of these firms YO handle individually. Commented[2R3]:@Debra Dickson No,it will make no
difference. The instructions on this document are to the recipient,as
you know. The quarterly report that is submitted to us contains both,
(e) Use the services and assistance of the SBA and the Minority Business Development a report from the entity and a report from the prime contractor.
Receiving timely reports are not just a problem at the end of a
Agency of the Department of Commerce. project,it is a problem sometime throughout the course of the
construction. It has always been a low priority to consultants to
stick to this requirement and always will be until you refuse to pay
(f) If the prime contractor awards subcontracts, require the prime contractor to take the them without the report.IT is tedious for the consultants,they have
steps in paragraphs(a)through(e)of this section to get with the contractor and the entity for the information and in
most cases the mayor's are required to sign it which can take some
time.With the addition of all the new SRF projects it isn't going to
MBE/WBE REPORTING,40 CFR,Part 33,Sections 33.502 and 33.503 be any quicker except that our project engineers are collecting them
and they have a closer working relationship with the consultant
The Borrower agrees to complete and submit EPA Form 5700-52A, "MBE/WBE Utilization ;! usually
Under Federal Grants,Cooperative Agreements and Interagency Agreements,"or other designated Commented[as sent
@Debra Dickson and @Keith sanders what
'' if a mass email was sent each quarter as a reminder?
reporting form,beginning with the Federal fiscal year reporting period the recipient receives the }` Commented[4R1]:WE can include this in the section as well
award and continuing each quarter until the project is completed.�Itegardless of the activity,if the about failure to submit reports could delay or suspend your award?
projeis not complete,reports must be submitted to meet the reporting requirement each uarter.! litnis-W`"" =__frgp� "�utitie-vccio�-zoo.zo_e.
ct p p gq !j j Commented[5R1]:@Leah Johannes(AAD)@Debra Dickson
Failure to submit reports timely, could result in non-compliance. According to eCFR title 2, S;. p mail out alread
y y goes out to the projects that are under
subtitle A, chapter II, Part 200, Part D 200.339 remedies for noncompliance" list six (6) constmction on a quarterly basis but that was a good idea. Maybe
circumstances the State can take for noncompliance, the list can be found at check with Matthew to see how he wants to handle it;he is
responsible for it now.
https://www.ecfr.gov/current/titl a-2/subtitle-A/chapter-II/part-200/subpart-D?toc—I.Only
procurements with certified MBE/WBEs are counted toward a reci ient's MBE/WBE 'Y commented[6R17:Yes,but keep in mind at thisjunction,they
P have already been awarded and have begun construction.
accomplishments. Quarterly reports are due by the l 5th of the month following the end of each .,j,' Historically,mgmt.hasn't been concerned about withholding
payments for the delayed response to these DBE reports. It is a low
quarter' priority.In my opinion,the only way to expedite these reports is to
threaten to or actually withhold pay request until it is received. This
Period Due Date is Matthew's responsibility,shouldn't he be in on this conversation or
yall could take it up in your mgmt.meetings maybe?
Jan—Mar Apr 15 Commented[7R1]:@Leah Johannes(AAD)Agree with you
Apr—Jun Jul 15 totally about waming them up front before they are awarded,and
Jul—Sept Oct 15 before construction begins and all throughout the process they
should be warned we will withhold payment if this isn't done.
Oct—Dec Jan 15 Hopefully you can convince mgmt.it is an important enough thing
to withhold payment if not received. Good thinking!
SAM and I,lE1 Requirements Commented[8R1]:@Keith Sanders @Leah Johannes(AAD)
did you want to change any additional language in this section?
System for Award Management and Universal Identifier Requirements. Commented 19R1]:@Debra Dickson unless you want to pat in
the CFR number,about failure to submit timely report could
interrupt the payments.If not than I an fine with the way,it is
A. Requirement for System for Award Management (SAM) unless exempted from this w itte1
requirement under 2 CFR 25.110,the Borrower must maintain current information in Commented[10R1]:@Debra Dickson @Leah Johannes(AAD)
I agree with Leah. The entities/consultants(mainly)just need
the SAM. This includes information on the Borrower's immediate and highest-level reminded early and oxen of their obligations regarding this reporting
owner and subsidiaries, as well as on all the Borrower's predecessors that have been requirement.It takes repetitive training of the consultants and we
awarded a federal contract or federal financial assistance within the last three years,If have lot new and younge uof
p rconsultants not in the habit
i submitting
these.these. Our engineers are going to have to step up and
applicable,until the submittal of the final financial report required under this award or start demanding these quarterly reporting forms,
receipt of the final payment,whichever is later.This requires that the Borrower reviews Commented[11R1]:@Debra Dickson and @Dewania
Coleman-Jones I have added the information about failure stay in
compliance.I just need Debby to proof it and make any changes
needed.
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and updates the information at least annually after the initial registration, and more
frequently if required by changes in the information or another award term,
B. Requirement for Unique Entity ID Numbers(UEI)to receive funding Borrower must
provide and maintain status of its UEI.
C. Definitions. For purposes of this condition:
1. System for Award Management(SAM)means the Federal repository into which
an entity must provide information required for the conduct of business as a
recipient.Additional information about registration procedures may be found at
the System for Award Management(SAM)Internet site:https://www.sam.gov.
2. The Unique Entity ID number(UEI)is a 12-character alphanumeric ID assigned
to an entity by SAM.gov.The Unique Entity ID(UEI)is the official identifier for
doing business with the U.S.Government as of April 4,2022.Entities registering
in SAM.gov are assigned a Unique Entity ID as a part of the registration process.
Entity uniqueness continues to be validated by an entity validation service._As
part of this transition,the DUNS Number has been removed from SAM.gov.
3. Entily,as it is used in this award tern,means all of the following,as defined at 2
CFR Part 25,subpart C:
a. A Governmental organization,which is a State,local government,or Indian
tribe;
b. A foreign public entity;
C. A domestic or foreign nonprofit organization;
d. A domestic or foreign for-profit organization;and
e. A Federal agency,but only as a subrecipient under an award or subaward
to a non-Federal entity.
4. Subaward(2 CFR 200.1):
a. This term means a legal instrument to provide support for the performance
of any portion of the substantive project or program for which you received this
award and that you as the recipient award to an eligible subrecipient.
b. The term does not include your procurement of property and services
needed to carry out the project or program (for further explanation, see Sec. --
.210 of the attachment to OMB Circular A-133, "Audits of States, Local
Governments,and Non-Profit Organizations").
C. A subaward may be provided through any legal agreement, including an
agreement that you consider a contract.
5. Subrecipient means an entity that(2 CFR 200.1):
a. Receives a subaward from you under this award;and
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b. Is accountable to you for the use of the Federal funds provided by the
subaward.
Equipment Purchase and Disposition
All equipment purchases under this Loan,as well as the disposition of such equipment,shall
be in accordance with 40 CFR 31.32.
Compliance with Cross-euttine Authorities
The Borrower will comply with the applicable Federal cross-cutting authorities as specified
under 40 CFR 35.3575. The State further agrees to inform EPA when consultation or
coordination with other Federal agencies is necessary to resolve issues regarding compliance
with cross-cutter requirements.
American Iron and Steel
(1) De rnitions.As used in this award term and condition—
(a) "iron and steel products"means the following products made primarily of iron or
steel: lined or unlined pipes and fittings, manhole covers and other municipal
castings, hydrants,tanks, flanges,pipe clamps and restraints, valves, structural
steel,reinforced precast concrete,and construction materials.
(b) Steel means an alloy that includes at least 50 percent iron, between .02 and 2
percent carbon,and may include other elements.
(2) Domestic preference.
(a) This award term and condition implements P.L. 113-76, Consolidated
Appropriations Act, 2014, Section 436, by requiring that all iron and steel
products used for a project for the construction,alteration,maintenance or repair
of a public water system or treatment work are produced in the United States
except as provided in paragraph(2)(b)and(2)(c)of this section and condition.
(b) This requirement does not apply with respect to a project if a State agency
approves the engineering plans and specifications for the project,in that agency's
capacity to approve such plans and specifications prior to a project requesting
bids,prior to January 17,2014.
(c) This requirement shall not apply in any case or category of cases in which the
Administrator of the Environmental Protection Agency finds that:—
(i) applying the requirement would be inconsistent with the public interest;
(ii) iron and steel products are not produced in the United States in sufficient
and reasonably available quantities and of a satisfactory quality;or
(iii) inclusion of iron and steel products produced in the United States will
increase the cost of the overall project by more than 25 percent.
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(3) Request for a Waiver under()(c).
(a) Any recipient request to use foreign iron or steel products in accordance with
paragraph (2)(c) of this section shall include adequate information for Federal
Government evaluation of the request,including—
(1) A description of the foreign and domestic iron,steel,and/or manufactured
goods;
(2) Unit of measure;
(3) Quantity;
(4) Cost;
(5) Time of delivery or availability;
(6) Location of the project;
(7) Name and address of the proposed supplier;and
(8) A detailed justification of the reason for use of foreign iron or steel products
cited in accordance with paragraph(2)(c)of this section.
(b) If the Administrator receives a request for a waiver under this section,the waiver
request shall be made available to the public for at least 15 days prior to making
a finding based on the request.
(c) Unless the Administrator issues a waiver of this term,use of foreign iron and steel
products is noncompliant with P.L. 113-76 Section 436 section 1605 of the
American Recovery and Reinvestment Act.
(d) This term and condition shall be applied in a manner consistent with United States
obligations under international agreements.
Build America Buy America Act
(1) Definitions.As used in this award term and condition—
(a) "iron and steel products"means the following products made primarily of iron or
steel: lined or unlined pipes and fittings, manhole covers and other municipal
castings, hydrants,tanks, flanges, pipe clamps and restraints, valves, structural
steel,reinforced precast concrete,and construction materials.
(b) Steel means an alloy that includes at least 50 percent iron, between .02 and 2
percent carbon,and may include other elements.
(c) End Product Manufactured in the United States—as defined in part 25 of the
Federal Acquisition Regulation by the Federal Acquisition Regulatory Council.
(d) Construction Material includes an article,material,or supply—other than an item
of primarily iron or steel; a manufactured product; cement and cementitious
materials; aggregates such as stone, sand, or gravel; or aggregate binding
agents or additives- that consists primarily of:
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(i) non-ferrous metals;
(ii) plastic and polymer-based products (including polyvinylchloride,
composite building materials,and polymers used in fiber optic cables)
(iii) glass(including optic glass);
(iv) lumber;or
(v) drywall
(2) Domestic content procurement preference.
(a) This award term and condition implements P.L. 117-58, Build America, Buy
America Act§§70901-52,by requiring that all iron,steel,manufactured products,
and construction materials used for a project for the construction, alteration,
maintenance or repair of a public water system or treatment work are produced
in the United States except as provided in paragraph (2)(b) and (2)(c) of this
section and condition.
(b) This requirement does not apply with respect to a project if funds were secured
prior to May 14,2022.
(c) This requirement shall not apply in any case or category of cases in which the
Administrator of the Environmental Protection Agency finds that:—
(i) applying the domestic content procurement preference would be
inconsistent with the public interest;
(ii) types of iron,steel,manufactured products,or construction materials are not
produced in the United States in sufficient and reasonably available
quantities or of a satisfactory quality;or
(iii) the inclusion of iron and steel, manufactured products, or construction
materials produced in the United States will increase the cost of the overall
project by more than 25 percent.
(3) Request for a Waiver under(2)(c).
(a) Any recipient request to use foreign iron or steel products in accordance with
paragraph(2)(c) of this section shall include adequate information for Federal
Government evaluation of the request,including—
(1) Waiver type;
(2) Recipient Name and Unique Entity Identifier(UEI);
(3) Financial assistance listing name and number;
(4) Federal financial assistance program name;
(5) Federal Award Identification Number(FAIN)(if available)
(6) Federal financial assistance funding amount;
(7) Total cost of infrastructure expenditures, including all Federal and
non-Federal funds(to the extent known);
(8) Infrastructure project description and location(to extent known);
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(9) List of iron or steel item(s), manufactured products, and construction
materials proposed to be excluded from Buy America requirements,
including name, cost,country(ies)of origin(if known), and relevant PSC
and NAICS codes for each;
(10) A description and detailed justification for use of the foreign iron, steel,
manufactured product(s),or construction material(s);
(11) A certification that the recipient made a good faith effort to solicit bids for
domestic products supported by terms included in requests for proposals,
contracts,and nonproprietary communications with the prime contractor
(12) A statement of waiver justification,including a description of efforts made
(e.g.,market research,industry outreach),by the Federal awarding agency
and,and in the case of a project or award specific waiver,by the recipient,
in an attempt to avoid the need for a waiver.Such a justification may cite,
if applicable,the absence of any Buy America-compliant bids received in
response to a solicitation.
(13) Anticipated impact if no waiver is issued;
(14) Any relevant comments received during the public comment period.
(b) If the Administrator receives a request for a waiver under this section,the waiver
request shall be made available to the public for at least 15 days prior to making
a finding based on the request.
(c) Unless the Administrator issues a waiver of this term,use of foreign iron, steel,
manufactured product(s),or construction material(s)is noncompliant with P.L.
It 7-58 Section 70914 of the Build America,Buy America Act.
(d) This term and condition shall be applied in a manner consistent with United States
obligations under international agreements.
S_annee
The Borrower agrees to comply with the 2015 SRF Signage Guidance in order to enhance public
awareness of EPA assistance agreements nationwide. Projects that receive BIL funding must
follow the BIL specific signage term and conditions.The BIL signage term and condition requires
a physical sign displaying the official Building a Better America emblem and EPA logo be placed
at construction sites for BIL-funded projects. For the Clean Water and Drinking Water SRF
programs,this requirement applies only to the following projects:
• Construction projects identified as"equivalency projects"for BIL general supplemental
capitalization grants.
• Construction projects that receive additional subsidization (grants or forgivable loans)
made available by BIL general supplemental capitalization grants.
• All construction projects funded with BIL emerging contaminants capitalization grants.
• All construction projects funded with BIL lead service line replacement capitalization
grants.
D-8
Equal Employment Opportunity Provision
The Borrower hereby agrees that it will incorporate or cause to be incorporated into any contract
for construction work, or modification thereof,as defined in the regulations of the Secretary of
Labor at 41 CFR Chapter 60,which is paid for in whole or in part with funds obtained from the
Federal Government or borrowed on the credit of the Federal Government pursuant to a grant,
contract,loan insurance,or guarantee,or undertaken pursuant to any Federal program involving
such grant,contract,loan,insurance,or guarantee,the following equal opportunity clause:
During the performance of this contract,the contractor agrees as follows:
(1) The contractor will not discriminate against any employee or applicant for
employment because of race,color,religion,sex,or national origin.The contractor
will take affirmative action to ensure that applicants are employed, and that
employees are treated during employment without regard to their race, color,
religion,sex,or national origin,such action shall include,but not be limited to the
following: Employment, upgrading, demotion, or transfer; recruitment or
recruitment advertising; layoff or termination; rates of pay or other form of
compensation;and selection for training,including apprenticeship.The contractor
agrees to post in conspicuous places, available to employees and applicants for
employment, notices to be provided setting forth the provisions of this
nondiscrimination clause.
(2) The contractor will, in all solicitations or advertisements for employees
placed by or on behalf of the contractor, state that all qualified applicants will
receive considerations for employment without regard to race,color,religion,sex,
or national origin.
(3) The contractor will send to each labor union or representative of workers
with which he has a collective bargaining agreement or other contract or
understanding,a notice to be provided advising the said labor union or workers'
representatives of the contractor's commitments under this section,and shall post
copies of the notice in conspicuous places available to employees and applicants
for employment.
(4) The contractor will comply with all provisions of Executive Order 11246 of
September 24, 1965, and of the rules, regulations, and relevant orders of the
Secretary of Labor.
(5) The contractor will furnish all information and reports required by
Executive Order 11246 of September 24,1965,and by rules,regulations,and orders
of the Secretary of Labor, his books, records, and accounts by the administering
agency and the Secretary of Labor for purposes of investigation to ascertain
compliance with such rules,regulations,and orders.
(6) In the event of the contractor's non-compliance with the nondiscrimination
clauses of this contract or with any of the said rules, regulations, or orders, this
contract may be canceled, terminated, or suspended in whole or in part and the
contractor may be declared ineligible for further Government contracts or federally
assisted construction contracts in accordance with procedures authorized in
Executive Order 11246 of September 24, 1965, and such other sanctions may be
imposed and remedies invoked as provided in Executive Order 11246 of September
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24, 1965,or by rule,regulation,or order of the Secretary of Labor,or as otherwise
provided by law.
(7) The contractor will include the portion of the sentence immediately
preceding paragraph(1)and the provisions of paragraphs(1)through(7)in every
subcontract or purchase order unless exempted by rules, regulations,or orders of
the Secretary of Labor issued pursuant to section 204 of Executive Order 11246 of
September 24, 1965, so that such provisions will be binding upon each
subcontractor or vendor. The contractor will take such action with respect to any
subcontract or purchase order as the administering agency may direct as a means
of enforcing such provisions,including sanctions for noncompliance:PROVIDED,
HOWEVER. That in the event a contractor becomes involved in or is threatened
with,litigation with a subcontractor or vendor as a result of such direction by the
administering agency the contractor may request the United States to enter into such
litigation to protect the interest of the United States.
The Borrower further agrees that it will be bound by the above equal opportunity clause with
respect to its own employment practices when it participates in federally assisted construction
work:PROVIDED,that if the Borrower so participating is a State or local government,the above
equal opportunity clause is not applicable to any agency, instrumentality or subdivision of such
government which does not participate in work on or under the contract.
The applicant agrees that it will assist and cooperate actively with the administering.agency and
the Secretary of Labor in obtaining the compliance of contractors and subcontractors with the equal
opportunity clause and the rules,regulations,and relevant orders of the Secretary of Labor,that it
will furnish the administering agency and the Secretary of Labor such information as they may
require for the supervision of such compliance,and that it will otherwise assist the administering
agency in the discharge of the agency's primary responsibility for securing compliances.
The applicant further agrees that it will refrain from entering into any contract or contract
modification subject to Executive Order 11246 of September 24,1965,with a contractor debarred
from, or who has not demonstrated eligibility for, Government contracts and federally assisted
construction contracts pursuant to the Executive order and will carry out such sanctions and
penalties for violation of the equal opportunity clause as may be imposed upon contractors and
subcontractors by the administering agency or the Secretary of Labor pursuant to Part II,Subpart
D of the Executive order.In addition,the applicant agrees that if it fails or refuses to comply with
these undertakings,the administering agency may take any or all of the following actions:Cancel,
terminate,or suspend in whole or in part this grant(contract,loan,insurance,guarantee):refrain
from extending any further assistance to the applicant under the program with respect to which the
failure or refund occurred until satisfactory assurance of future compliance has been received from
such applicant;and refer the case to the Department of Justice for appropriate legal proceedings.
Non-Discrimination Provisions
Comply with the Civil Rights Act of 1964,P.L.88-352;Section 13 of The Federal Water Pollution
Control Act Amendments of 1972 regarding sex discrimination;Section 504 of the Rehabilitation
Act of 1973 regarding discrimination against the handicapped;and The Age Discrimination Act
of 1975.
D-10
Prohibition on Certain Telecommunications and Video Surveillance Services or Eauiument
This term and condition implements 2 CFR 200.216 and is effective for obligations and
expenditures of EPA financial assistance funding on or after 8/13/2020.
As required by 2 CFR 200.216,EPA recipients and subrecipients,including borrowers under EPA
funded revolving loan fund programs,are prohibited from obligating or expending loan or grant
funds to procure or obtain;extend or renew a contract to procure or obtain;or enter into a contract
(or extend or renew a contract) to procure or obtain equipment, services, or systems that use
covered telecommunications equipment or services as a substantial or essential component of any
system, or as critical technology as part of any system. As described in Public Law 115-232,
section 889,covered telecommunications equipment is telecommunications equipment produced
by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such
entities).Recipients,subrecipients,and borrowers also may not use EPA funds to purchase:
a. For the purpose of public safety, security of government facilities, physical security
surveillance of critical infrastructure, and other national security purposes, video
surveillance and telecommunications equipment produced by Hytera Communications
Corporation, Hangzhou Hikvision Digital Technology Company, or Dahua Technology
Company(or any subsidiary or affiliate of such entities).
b. Telecommunications or video surveillance services provided by such entities or using such
equipment.
c. Telecommunications or video surveillance equipment or services produced or provided by
an entity that the Secretary of Defense,in consultation with the Director of the National
Intelligence or the Director of the Federal Bureau of Investigation,reasonably believes to
be an entity owned or controlled by, or otherwise connected to, the government of a
covered foreign country.
Consistent with 2 CFR 200.471, costs incurred for telecommunications and video surveillance
services or equipment such as phones,internet,video surveillance,and cloud servers are allowable
except for the following circumstances:
a. Obligating or expending EPA funds for covered telecommunications and video
surveillance services or equipment or services as described in 2 CFR 200.216 to:
1) Procure or obtain,extend or renew a contract to procure or obtain;
2) Enter into a contract(or extend or renew a contract)to procure;or
3) Obtain the equipment,services,or systems.
Certain prohibited equipment, systems, or services, including equipment, systems, or services
produced or provided by entities identified in section 889,are recorded in the System for Award
Mana eg ment exclusion list.
D-I1
ATTACHMENT A
Wage Rate Requirements Under The Safe Drinking Water Act,Section 1450(d)
(as of 1/12/23)
Preamble
With respect to the Safe Drinking Water State Revolving Funds,EPA provides capitalization grants to each
State which in turn provides sub grants or loans to eligible entities within the State. Typically, the sub
recipients are municipal or other local governmental entities that manage the funds. For these types of
recipients,the provisions set forth under Roman numeral I,below,shall apply.Although EPA and the State
remain responsible for ensuring sub recipients'compliance with the wage rate requirements set forth herein,
those sub recipients shall have the primary responsibility to maintain payroll records as described in Section
3(ii)(A),below and for compliance as described in Section 1-5.
Occasionally,the sub recipient may be a private for profit or not for profit entity.For these types of recipients,
the provisions set forth in Roman Numeral II, below, shall apply. Although EPA and the State remain
responsible for ensuring sub recipients'compliance with the wage rate requirements set forth herein,those
sub recipients shall have the primary responsibility to maintain payroll records as described in Section II-
3(ii)(A),below and for compliance as described in Section II-5.
ATTACHMENT
I. Requirements Under The Consolidated Appropriations Act.2016(P.L.114-113)
For Sub recioients That Are Governmental Entities:
The following terms and conditions specify how recipients will assist EPA in meeting its Davis-Bacon(DB)
responsibilities when DB applies to EPA awards of financial assistance with respect to State recipients and
sub recipients that are governmental entities.If a sub recipient has questions regarding when DB applies,
obtaining the correct DB wage determinations,DB provisions,or compliance monitoring,it may contact the
State recipient. If a State recipient needs guidance, the recipient may contact Mr. Dannell Brown,
brown.dannell@epa.gov,(214)665-7279 of EPA Region 6 in Dallas,Texas for guidance.The recipient or
sub recipient may also obtain additional guidance from DOL's web site at hftp://www.dol.gov/whd/
1. Applicability of the Davis-Bacon(DB)prevailing wage requirements.
DB prevailing wage requirements apply to the construction,alteration,and repair of treatment works
carried out in whole or in part with assistance made available by a State water pollution control
revolving fund and to any construction project carried out in whole or in part by assistance made
available by a drinking water treatment revolving loan fund. If a sub recipient encounters a unique
situation at a site that presents uncertainties regarding DB applicability, the sub recipient must
discuss the situation with the recipient State before authorizing work on that site.
2. Obtaining Wage Determinations.
(a)Sub recipients shall obtain the wage determination for the locality in which a covered activity subject to
DB will take place prior to issuing requests for bids, proposals, quotes or other methods for soliciting
contracts(solicitation)for activities subject to DB. These wage determinations shall be incorporated into
solicitations and any subsequent contracts. Prime contracts must contain a provision requiring that
subcontractors follow the wage determination incorporated into the prime contract.
(i) While the solicitation remains open,the sub recipient shall monitor www.wdol.gov weekly to
ensure that the wage determination contained in the solicitation remains current. The sub
recipients shall amend the solicitation if DOL issues a modification more than 10 days prior to
the closing date (i.e. bid opening) for the solicitation. If DOL modifies or supersedes the
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applicable wage determination less than 10 days prior to the closing date,the sub recipients
may request a finding from the State recipient that there is not a reasonable time to notify
interested contractors of the modification of the wage determination.The State recipient will
provide a report of its findings to the sub recipient.
(ii) If the sub recipient does not award the contract within 90 days of the closure of the solicitation,
any modifications or supersedes DOL makes to the wage determination contained in the
solicitation shall be effective unless the State recipient, at the request of the sub recipient,
obtains an extension of the 90 day period from DOL pursuant to 29 CFR 1.6(c)(3)(iv).The sub
recipient shall monitor www.wdol.gov on a weekly basis if it does not award the contract within
90 days of closure of the solicitation to ensure that wage determinations contained in the
solicitation remain current.
(b)If the sub recipient carries out activity subject to DB by issuing a task order,work assignment or similar
instrument to an existing contractor(ordering instrument)rather than by publishing a solicitation,the sub
recipient shall insert the appropriate DOL wage determination from www.wdol.gov into the ordering
instrument.
(c)Sub recipients shall review all subcontracts subject to DB entered into by prime contractors to verify that
the prime contractor has required its subcontractors to include the applicable wage determinations.
(d) As provided in 29 CFR 1.6(f), DOL may issue a revised wage determination applicable to a sub
recipient's contract after the award of a contract or the issuance of an ordering instrument if DOL determines
that the sub recipient has failed to incorporate a wage determination or has used a wage determination that
clearly does not apply to the contract or ordering instrument. If this occurs,the sub recipient shall either
terminate the contract or ordering instrument and issue a revised solicitation or ordering instrument or
incorporate DOL's wage determination retroactive to the beginning of the contract or ordering instrument
by change order.The sub recipient's contractor must be compensated for any increases in wages resulting
from the use of DOL's revised wage determination.
3.Contract and Subcontract provisions.
(a)The Recipient shall insure that the sub recipient(s)shall insert in full in any contract in excess of$2,000
which is entered into for the actual construction,alteration and/or repair,including painting and decorating,
of a treatment work under the CWSRF or a construction project under the DWSRF financed in whole or in
part from Federal funds or in accordance with guarantees of a Federal agency or financed from funds
obtained by pledge of any contract of a Federal agency to make a loan,grant or annual contribution(except
where a different meaning is expressly indicated),and which is subject to the labor standards provisions of
any of the acts listed in§5.1 or the Consolidated Appropriations Act,2016,the following clauses:
(1)Minimum wages.
(i)All laborers and mechanics employed or working upon the site of the work will be paid unconditionally
and not less often than once a week,and without subsequent deduction or rebate on any account(except
such payroll deductions as are permitted by regulations issued by the Secretary of Labor under the
Copeland Act(29 CFR part 3)),the full amount of wages and bona fide fringe benefits(or cash equivalents
thereof)due at time of payment computed at rates not less than those contained in the wage determination
of the Secretary of Labor which is attached hereto and made a part hereof,regardless of any contractual
relationship which may be alleged to exist between the contractor and such laborers and mechanics.
Contributions made or costs reasonably anticipated for bona fide fringe benefits under section 1(b)(2)of
the Davis-Bacon Act on behalf of laborers or mechanics are considered wages paid to such laborers or
mechanics,subject to the provisions of paragraph(a)(1)(iv)of this section;also,regular contributions made
or costs incurred for more than a weekly period(but not less often than quarterly)under plans,funds,or
programs which cover the particular weekly period, are deemed to be constructively made or incurred
D-13
during such weekly period.Such laborers and mechanics shall be paid the appropriate wage rate and fringe
benefits on the wage determination for the classification of work actually performed,without regard to skill,
except as provided in§5.5(a)(4). Laborers or mechanics performing work in more than one classification
may be compensated at the rate specified for each classification for the time actually worked therein:
Provided that the employer's payroll records accurately set forth the time spent in each classification in
which work is performed.The wage determination(including any additional classification and wage rates
conformed under paragraph(a)(1)(ii)of this section)and the Davis-Bacon poster(WH-1321)shall be posted
at all times by the contractor and its subcontractors at the site of the work in a prominent and accessible
place where it can be easily seen by the workers.
Sub recipients may obtain wage determinations from the U.S. Department of Labors web site,
www.dol.gov.
(ii)(A)The sub recipient(s),on behalf of EPA,shall require that any class of laborers or mechanics,including
helpers,which is not listed in the wage determination and which is to be employed under the contract shall
be classified in conformance with the wage determination.The State award official shall approve a request
for an additional classification and wage rate and fringe benefits therefore only when the following criteria
have been met:
(1)The work to be performed by the classification requested is not performed by a classification in the wage
determination;and
(2)The classification is utilized in the area by the construction industry;and
(3)The proposed wage rate,including any bona fide fringe benefits,bears a reasonable relationship to the
wage rates contained in the wage determination.
(B)If the contractor and the laborers and mechanics to be employed in the classification(if known),or their
representatives,and the sub recipient(s)agree on the classification and wage rate(including the amount
designated for fringe benefits where appropriate), documentation of the action taken and the request,
including the local wage determination shall be sent by the sub recipient(s)to the State award official.The
State award official will transmit the request, to the Administrator of the Wage and Hour Division,
Employment Standards Administration,U.S.Department of Labor,Washington,DC 20210 and to the EPA
DB Regional Coordinator concurrently. The Administrator, or an authorized representative, will approve,
modify, or disapprove every additional classification request within 30 days of receipt and so advise the
State award official or will notify the State award official within the 30-day period that additional time is
necessary.
(C) In the event the contractor, the laborers or mechanics to be employed in the classification or their
representatives, and the sub recipient(s) do not agree on the proposed classification and wage rate
(including the amount designated for fringe benefits,where appropriate),the award official shall refer the
request and the local wage determination, including the views of all interested parties and the
recommendation of the State award official, to the Administrator for determination.The request shall be
sent to the EPA DB Regional Coordinator concurrently.The Administrator,or an authorized representative,
will issue a determination within 30 days of receipt of the request and so advise the contracting officer or
will notify the contracting officer within the 30-day period that additional time is necessary.
(D) The wage rate (including fringe benefits where appropriate) determined pursuant to paragraphs
(a)(1)(ii)(B)or(C)of this section,shall be paid to all workers performing work in the classification under this
contract from the first day on which work is performed in the classification.
(iii) Whenever the minimum wage rate prescribed in the contract for a class of laborers or mechanics
includes a fringe benefit which is not expressed as an hourly rate,the contractor shall either pay the benefit
as stated in the wage determination or shall pay another bona fide fringe benefit or an hourly cash
equivalent thereof.
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(iv)If the contractor does not make payments to a trustee or other third person,the contractor may consider
as part of the wages of any laborer or mechanic the amount of any costs reasonably anticipated in providing
bona fide fringe benefits under a plan or program,Provided,That the Secretary of Labor has found,upon
the written request of the contractor,that the applicable standards of the Davis-Bacon Act have been met.
The Secretary of Labor may require the contractor to set aside in a separate account assets for the meeting
of obligations under the plan or program.
(2)Withholding.The sub recipient(s),shall upon written request of the EPA Award Official or an authorized
representative of the Department of Labor,withhold or cause to be withheld from the contractor under this
contract or any other Federal contract with the same prime contractor, or any other federally-assisted
contract subject to Davis-Bacon prevailing wage requirements,which is held by the same prime contractor,
so much of the accrued payments or advances as may be considered necessary to pay laborers and
mechanics,including apprentices,trainees,and helpers,employed by the contractor or any subcontractor
the full amount of wages required by the contract. In the event of failure to pay any laborer or mechanic,
including any apprentice,trainee,or helper,employed or working on the site of the work,all or part of the
wages required by the contract,the(Agency)may,after written notice to the contractor,sponsor,applicant,
or owner,take such action as may be necessary to cause the suspension of any further payment,advance,
or guarantee of funds until such violations have ceased.
(3)Payrolls and basic records.
(i)Payrolls and basic records relating thereto shall be maintained by the contractor during the course of the
work and preserved for a period of three years thereafter for all laborers and mechanics working at the site
of the work.Such records shall contain the name,address,and social security number of each such worker,
his or her correct classification, hourly rates of wages paid (including rates of contributions or costs
anticipated for bona fide fringe benefits or cash equivalents thereof of the types described in section
1(b)(2)(B)of the Davis-Bacon Act),daily and weekly number of hours worked,deductions made and actual
wages paid.Whenever the Secretary of Labor has found under 29 CFR 5.5(a)(1)(iv)that the wages of any
laborer or mechanic include the amount of any costs reasonably anticipated in providing benefits under a
plan or program described in section 1(b)(2)(B) of the Davis-Bacon Act, the contractor shall maintain
records which show that the commitment to provide such benefits is enforceable,that the plan or program
is financially responsible,and that the plan or program has been communicated in writing to the laborers or
mechanics affected,and records which show the costs anticipated or the actual cost incurred in providing
such benefits. Contractors employing apprentices or trainees under approved programs shall maintain
written evidence of the registration of apprenticeship programs and certification of trainee programs,the
registration of the apprentices and trainees, and the ratios and wage rates prescribed in the applicable
programs.
(ii)(A)The contractor shall submit weekly,for each week in which any contract work is performed,a copy
of all payrolls to the sub recipient, that is, the entity that receives the sub-grant or loan from the State
capitalization grant recipient. Such documentation shall be available on request of the State recipient or
EPA. As to each payroll copy received, the sub recipient shall provide written confirmation in a form
satisfactory to the State indicating whether or not the project is in compliance with the requirements of 29
CFR 5.5(a)(1)based on the most recent payroll copies for the specified week.The payrolls shall set out
accurately and completely all of the information required to be maintained under 29 CFR 5.5(a)(3)(i),except
that full social security numbers and home addresses shall not be included on the weekly payrolls. Instead
the payrolls shall only need to include an individually identifying number for each employee(e.g.,the last
four digits of the employee's social security number). The required weekly payroll information may be
submitted in any form desired.Optional Form WH-347 is available for this purpose from the Wage and Hour
Division Web site at http://www.dol.gov/whdtforms/wh347instr.htm or its successor site. The prime
contractor is responsible for the submission of copies of payrolls by all subcontractors. Contractors and
subcontractors shall maintain the full social security number and current address of each covered worker,
and shall provide them upon request to the sub recipient(s)for transmission to the State or EPA if requested
by EPA,the State,the contractor,or the Wage and Hour Division of the Department of Labor for purposes
of an investigation or audit of compliance with prevailing wage requirements. It is not a violation of this
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section for a prime contractor to require a subcontractor to provide addresses and social security numbers
to the prime contractor for its own records,without weekly submission to the sub recipient(s).
(B)Each payroll submitted shall be accompanied by a"Statement of Compliance,"signed by the contractor
or subcontractor or his or her agent who pays or supervises the payment of the persons employed under
the contract and shall certify the following:
(1) That the payroll for the payroll period contains the information required to be provided under§5.5
(a)(3)(ii)of Regulations,29 CFR part 5,the appropriate information is being maintained under§5.5(a)(3)(i)
of Regulations,29 CFR part 5,and that such information is correct and complete;
(2)That each laborer or mechanic(including each helper,apprentice,and trainee)employed on the contract
during the payroll period has been paid the full weekly wages earned, without rebate, either directly or
indirectly,and that no deductions have been made either directly or indirectly from the full wages earned,
other than permissible deductions as set forth in Regulations,29 CFR part 3;
(3)That each laborer or mechanic has been paid not less than the applicable wage rates and fringe benefits
or cash equivalents for the classification of work performed, as specified in the applicable wage
determination incorporated into the contract.
(C)The weekly submission of a properly executed certification set forth on the reverse side of Optional
Form WH-347 shall satisfy the requirement for submission of the"Statement of Compliance"required by
paragraph(a)(3)(ii)(B)of this section.
(D)The falsification of any of the above certifications may subject the contractor or subcontractor to civil or
criminal prosecution under section 1001 of title 18 and section 231 of title 31 of the United States Code.
(iii)The contractor or subcontractor shall make the records required under paragraph(a)(3)(i)of this section
available for inspection, copying, or transcription by authorized representatives of the State, EPA or the
Department of Labor,and shall permit such representatives to interview employees during working hours
on the job.If the contractor or subcontractor fails to submit the required records or to make them available,
the Federal agency or State may,after written notice to the contractor,sponsor,applicant,or owner,take
such action as may be necessary to cause the suspension of any further payment,advance,or guarantee
of funds.Furthermore,failure to submit the required records upon request or to make such records available
may be grounds for debarment action pursuant to 29 CFR 5.12.
(4)Apprentices and trainees
(i)Apprentices.Apprentices will be permitted to work at less than the predetermined rate for the work they
performed when they are employed pursuant to and individually registered in a bona fide apprenticeship
program registered with the U.S.Department of Labor, Employment and Training Administration,Office of
Apprenticeship Training,Employer and Labor Services,or with a State Apprenticeship Agency recognized
by the Office, or if a person is employed in his or her first 90 days of probationary employment as an
apprentice in such an apprenticeship program,who is not individually registered in the program, but who
has been certified by the Office of Apprenticeship Training, Employer and Labor Services or a State
Apprenticeship Agency(where appropriate)to be eligible for probationary employment as an apprentice.
The allowable ratio of apprentices to journeymen on the job site in any craft classification shall not be
greater than the ratio permitted to the contractor as to the entire work force under the registered program.
Any worker listed on a payroll at an apprentice wage rate,who is not registered or otherwise employed as
stated above, shall be paid not less than the applicable wage rate on the wage determination for the
classification of work actually performed. In addition, any apprentice performing work on the job site in
excess of the ratio permitted under the registered program shall be paid not less than the applicable wage
rate on the wage determination for the work actually performed. Where a contractor is performing
construction on a project in a locality other than that in which its program is registered,the ratios and wage
rates (expressed in percentages of the journeyman's hourly rate) specified in the contractor's or
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subcontractor's registered program shall be observed.Every apprentice must be paid at not less than the
rate specified in the registered program for the apprentice's level of progress,expressed as a percentage
of the journeymen hourly rate specified in the applicable wage determination.Apprentices shall be paid
fringe benefits in accordance with the provisions of the apprenticeship program. If the apprenticeship
program does not specify fringe benefits,apprentices must be paid the full amount of fringe benefits listed
on the wage determination for the applicable classification.If the Administrator determines that a different
practice prevails for the applicable apprentice classification,fringes shall be paid in accordance with that
determination.In the event the Office of Apprenticeship Training,Employer and Labor Services,or a State
Apprenticeship Agency recognized by the Office, withdraws approval of an apprenticeship program, the
contractor will no longer be permitted to utilize apprentices at less than the applicable predetermined rate
for the work performed until an acceptable program is approved.
(ii)Trainees. Except as provided in 29 CFR 5.16, trainees will not be permitted to work at less than the
predetermined rate for the work performed unless they are employed pursuant to and individually registered
in a program which has received prior approval,evidenced by formal certification by the U.S. Department
of Labor,Employment and Training Administration.The ratio of trainees to journeymen on the job site shall
not be greater than permitted under the plan approved by the Employment and Training Administration.
Every trainee must be paid at not less than the rate specified in the approved program for the trainee's level
of progress, expressed as a percentage of the journeyman hourly rate specified in the applicable wage
determination. Trainees shall be paid fringe benefits in accordance with the provisions of the trainee
program. If the trainee program does not mention fringe benefits,trainees shall be paid the full amount of
fringe benefits listed on the wage determination unless the Administrator of the Wage and Hour Division
determines that there is an apprenticeship program associated with the corresponding journeyman wage
rate on the wage determination which provides for less than full fringe benefits for apprentices. Any
employee listed on the payroll at a trainee rate who is not registered and participating in a training plan
approved by the Employment and Training Administration shall be paid not less than the applicable wage
rate on the wage determination for the classification of work actually performed. In addition, any trainee
performing work on the job site in excess of the ratio permitted under the registered program shall be paid
not less than the applicable wage rate on the wage determination for the work actually performed. In the
event the Employment and Training Administration withdraws approval of a training program,the contractor
will no longer be permitted to utilize trainees at less than the applicable predetermined rate for the work
performed until an acceptable program is approved.
(iii)Equal employment opportunity.The utilization of apprentices,trainees and journeymen under this part
shall be in conformity with the equal employment opportunity requirements of Executive Order 11246,as
amended and 29 CFR part 30.
(5)Compliance with Copeland Act requirements.The contractor shall comply with the requirements of 29
CFR part 3,which are incorporated by reference in this contract.
(6)Subcontracts.The contractor or subcontractor shall insert in any subcontracts the clauses contained in
29 CFR 5.5(a)(1)through(10)and such other clauses as the EPA determines may by appropriate,and also
a clause requiring the subcontractors to include these clauses in any lower tier subcontracts. The prime
contractor shall be responsible for the compliance by any subcontractor or lower tier subcontractor with all
the contract clauses in 29 CFR 5.5.
(7)Contract termination;debarment.A breach of the contract clauses in 29 CFR 5.5 may be grounds for
termination of the contract,and for debarment as a contractor and a subcontractor as provided in 29 CFR
5.12.
(8)Compliance with Davis-Bacon and Related Act requirements.All rulings and interpretations of the Davis-
Bacon and Related Acts contained in 29 CFR parts 1,3,and 5 are herein incorporated by reference in this
contract.
(9) Disputes concerning labor standards. Disputes arising out of the labor standards provisions of this
contract shall not be subject to the general disputes clause of this contract.Such disputes shall be resolved
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in accordance with the procedures of the Department of Labor set forth in 29 CFR parts 5,6,and 7.Disputes
within the meaning of this clause include disputes between the contractor(or any of its subcontractors)and
sub recipient(s),State,EPA,the U.S.Department of Labor,or the employees or their representatives.
(10)Certification of eligibility.
(i)By entering into this contract,the contractor certifies that neither it(nor he or she)nor any person or firm
who has an interest in the contractor's firm is a person or firm ineligible to be awarded Government contracts
by virtue of section 3(a)of the Davis-Bacon Act or 29 CFR 5.12(a)(1).
(ii)No part of this contract shall be subcontracted to any person or firm ineligible for award of a Government
contract by virtue of section 3(a)of the Davis-Bacon Act or 29 CFR 5.12(a)(1).
(iii)The penalty for making false statements is prescribed in the U.S.Criminal Code,18 U.S.C.1001.
4.Contract Provision for Contracts in Excess of$100,000.
(a)Contract Work Hours and Safety Standards Act.The sub recipient shall insert the following clauses set
forth in paragraphs(a)(1),(2), (3),and(4)of this section in full in any contract in an amount in excess of
$100,000 and subject to the overtime provisions of the Contract Work Hours and Safety Standards Act.
These clauses shall be inserted in addition to the clauses required by Item 3,above or 29 CFR 4.6.As used
in this paragraph,the terms laborers and mechanics include watchmen and guards.
(1) Overtime requirements. No contractor or subcontractor contracting for any part of the contract work
which may require or involve the employment of laborers or mechanics shall require or permit any such
laborer or mechanic in any workweek in which he or she is employed on such work to work in excess of
forty hours in such workweek unless such laborer or mechanic receives compensation at a rate not less
than one and one-half times the basic rate of pay for all hours worked in excess of forty hours in such
workweek.
(2)Violation;liability for unpaid wages;liquidated damages.In the event of any violation of the clause set
forth in paragraph(a)(1)of this section the contractor and any subcontractor responsible therefore shall be
liable for the unpaid wages. In addition, such contractor and subcontractor shall be liable to the United
States(in the case of work done under contract for the District of Columbia or a territory,to such District or
to such territory),for liquidated damages.Such liquidated damages shall be computed with respect to each
individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set
forth in paragraph(a)(1)of this section,in the sum of$10 for each calendar day on which such individual
was required or permitted to work in excess of the standard workweek of forty hours without payment of
the overtime wages required by the clause set forth in paragraph(a)(1)of this section.
(3)Withholding for unpaid wages and liquidated damages.The sub recipient,upon written request of the
EPA Award Official or an authorized representative of the Department of Labor,shall withhold or cause to
be withheld,from any moneys payable on account of work performed by the contractor or subcontractor
under any such contract or any other Federal contract with the same prime contractor, or any other
federally-assisted contract subject to the Contract Work Hours and Safety Standards Act,which is held by
the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of
such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set
forth in paragraph(b)(2)of this section.
(4)Subcontracts.The contractor or subcontractor shall insert in any subcontracts the clauses set forth in
paragraph(a)(1)through(4)of this section and also a clause requiring the subcontractors to include these
clauses in any lower tier subcontracts. The prime contractor shall be responsible for compliance by any
subcontractor or lower tier subcontractor with the clauses set forth in paragraphs(a)(1)through(4)of this
section.
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(b)In addition to the clauses contained in Item 3,above,in any contract subject only to the Contract Work
Hours and Safety Standards Act and not to any of the other statutes cited in 29 CFR 5.1,the Sub recipient
shall insert a clause requiring that the contractor or subcontractor shall maintain payrolls and basic payroll
records during the course of the work and shall preserve them for a period of three years from the
completion of the contract for all laborers and mechanics,including guards and watchmen,working on the
contract.Such records shall contain the name and address of each such employee,social security number,
correct classifications,hourly rates of wages paid,daily and weekly number of hours worked,deductions
made,and actual wages paid.Further,the Sub recipient shall insert in any such contract a clause providing
hat the records to be maintained under this paragraph shall be made available by the contractor or
subcontractor for inspection,copying,or transcription by authorized representatives of the(write the name
of agency) and the Department of Labor, and the contractor or subcontractor will permit such
representatives to interview employees during working hours on the job.
5.Compliance Verification
(a)The sub recipient shall periodically interview a sufficient number of employees entitled to DB prevailing
wages(covered employees)to verify that contractors or subcontractors are paying the appropriate wage
rates.As provided in 29 CFR 5.6(a)(6),all interviews must be conducted in confidence.The sub recipient
must use Standard Form 1445 (SF 1445) or equivalent documentation to memorialize the interviews.
Copies of the SF 1445 are available from EPA on request.
(b)The sub recipient shall establish and follow an interview schedule based on its assessment of the risks
of noncompliance with DB posed by contractors or subcontractors and the duration of the contract or
subcontract. Sub recipients must conduct more frequent interviews if the initial interviews or other
information indicated that there is a risk that the contractor or subcontractor is not complying with DB. Sub
recipients shall immediately conduct interviews in response to an alleged violation of the prevailing wage
requirements.All interviews shall be conducted in confidence."
(c)The sub recipient shall periodically conduct spot checks of a representative sample of weekly payroll
data to verify that contractors or subcontractors are paying the appropriate wage rates.The sub recipient
shall establish and follow a spot check schedule based on its assessment of the risks of noncompliance
with DB posed by contractors or subcontractors and the duration of the contract or subcontract. At a
minimum, if practicable, the sub recipient should spot check payroll data within two weeks of each
contractor or subcontractor's submission of its initial payroll data and two weeks prior to the completion
date the contract or subcontract.Sub recipients must conduct more frequent spot checks if the initial spot
check or other information indicates that there is a risk that the contractor or subcontractor is not complying
with DB.In addition,during the examinations the sub recipient shall verify evidence of fringe benefit plans
and payments there under by contractors and subcontractors who claim credit for fringe benefit
contributions.
(d) The sub recipient shall periodically review contractors and subcontractors use of apprentices and
trainees to verify registration and certification with respect to apprenticeship and training programs
approved by either the U.S Department of Labor or a state, as appropriate, and that contractors and
subcontractors are not using disproportionate numbers of, laborers, trainees and apprentices. These
reviews shall be conducted in accordance with the schedules for spot checks and interviews described in
Item 5(b)and(c)above.
(e)Sub recipients must immediately report potential violations of the DB prevailing wage requirements to
the EPA DB contact listed above and to the appropriate DOL Wage and Hour District Office listed at
hftp:/Avww.dol.gov/whd/america2.htm.
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II. Requirements Under The Consolidated Appropriations Act 2016(P L 114-113)For Sub
recipients That Are Not Governmental Entities:
The following terms and conditions specify how recipients will assist EPA in meeting its DB responsibilities
when DB applies to EPA awards of financial assistance under the FY2016 Consolidated Appropriations Act
with respect to sub recipients that are not governmental entities.If a sub recipient has questions regarding
when DB applies,obtaining the correct DB wage determinations,DB provisions,or compliance monitoring,
it may contact the State recipient for guidance.If a State recipient needs guidance,the recipient may contact
Mr.Dannell Brown,brown.dannell@epa.gov,(214)665-7279 of EPA Region 6 in Dallas,Texas EPA Grants
Management Office for guidance.The recipient or sub recipient may also obtain additional guidance from
DOL's web site at hftp:/twww.dol.govtwhd/
Under these terms and conditions, the sub recipient must submit its Proposed DB wage
determinations to the State recipient for approval Prior to including the waae determination in any
solicitation,contract task orders,work assignments,or similar instruments to existing contractors
1.Applicability of the Davis-Bacon(DB)prevailing wage requirements.
Under the FY 2016 Consolidated Appropriations Act, DB prevailing wage requirements apply to the
construction,alteration,and repair of treatment works carried out in whole or in part with assistance made
available by a State water pollution control revolving fund and to any construction project carried out in
whole or in part by assistance made available by a drinking water treatment revolving loan fund. If a sub
recipient encounters a unique situation at a site that presents uncertainties regarding DB applicability,the
sub recipient must discuss the situation with the recipient State before authorizing work on that site.
2.Obtaining Wage Determinations.
(a)Sub recipients must obtain proposed wage determinations for specific localities at www.wdol.gov. After
the Sub recipient obtains its proposed wage determination, it must submit the wage determination to the
Arkansas Resources Commission Project Engineer assigned to the project, for approval prior to
inserting the wage determination into a solicitation,contract or issuing task orders,work assignments or
similar instruments to existing contractors(ordering instruments unless subsequently directed otherwise by
the State recipient Award Official.)
(b)Sub recipients shall obtain the wage determination for the locality in which a covered activity subject to
DB will take place prior to issuing requests for bids, proposals, quotes or other methods for soliciting
contracts(solicitation)for activities subject to DB. These wage determinations shall be incorporated into
solicitations and any subsequent contracts. Prime contracts must contain a provision requiring that
subcontractors follow the wage determination incorporated into the prime contract.
(i) While the solicitation remains open,the sub recipient shall monitor www.wdol.gov on a weekly
basis to ensure that the wage determination contained in the solicitation remains current.The
sub recipients shall amend the solicitation if DOL issues a modification more than 10 days prior
to the closing date(i.e. bid opening)for the solicitation. If DOL modifies or supersedes the
applicable wage determination less than 10 days prior to the closing date,the sub recipients
may request a finding from the State recipient that there is not a reasonable time to notify
interested contractors of the modification of the wage determination. The State recipient will
provide a report of its findings to the sub recipient.
(ii) If the sub recipient does not award the contract within 90 days of the closure of the solicitation,
any modifications or supersedes DOL makes to the wage determination contained in the
solicitation shall be effective unless the State recipient, at the request of the sub recipient,
obtains an extension of the 90 day period from DOL pursuant to 29 CFR 1.6(c)(3)(iv).The sub
recipient shall monitor www.wdol.gov on a weekly basis if it does not award the contract within
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90 days of closure of the solicitation to ensure that wage determinations contained in the
solicitation remain current.
(c)If the sub recipient carries out activity subject to DB by issuing a task order,work assignment or similar
instrument to an existing contractor(ordering instrument)rather than by publishing a solicitation,the sub
recipient shall insert the appropriate DOL wage determination from www.wdol.gov into the ordering
instrument.
(d)Sub recipients shall review all subcontracts subject to DB entered into by prime contractors to verify that
the prime contractor has required its subcontractors to include the applicable wage determinations.
(e) As provided in 29 CFR 1.6(f), DOL may issue a revised wage determination applicable to a sub
recipient's contract after the award of a contract or the issuance of an ordering instrument if DOL determines
that the sub recipient has failed to incorporate a wage determination or has used a wage determination that
clearly does not apply to the contract or ordering instrument. If this occurs,the sub recipient shall either
terminate the contract or ordering instrument and issue a revised solicitation or ordering instrument or
incorporate DOL's wage determination retroactive to the beginning of the contract or ordering instrument
by change order.The sub recipient's contractor must be compensated for any increases in wages resulting
from the use of DOL's revised wage determination.
3.Contract and Subcontract provisions.
(a)The Recipient shall insure that the sub recipient(s)shall insert in full in any contract in excess of$2,000
which is entered into for the actual construction,alteration and/or repair,including painting and decorating,
of a treatment work under the CWSRF or a construction project under the DWSRF financed in whole or in
part from Federal funds or in accordance with guarantees of a Federal agency or financed from funds
obtained by pledge of any contract of a Federal agency to make a loan,grant or annual contribution(except
where a different meaning is expressly indicated),and which is subject to the labor standards provisions of
any of the acts listed in§5.1 or the FY 2016 Consolidated and Continuing Appropriations Act,the following
clauses:
(1)Minimum wages.
(i)All laborers and mechanics employed or working upon the site of the work,will be paid unconditionally
and not less often than once a week,and without subsequent deduction or rebate on any account(except
such payroll deductions as are permitted by regulations issued by the Secretary of Labor under the
Copeland Act(29 CFR part 3)),the full amount of wages and bona fide fringe benefits(or cash equivalents
thereof)due at time of payment computed at rates not less than those contained in the wage determination
of the Secretary of Labor which is attached hereto and made a part hereof,regardless of any contractual
relationship which may be alleged to exist between the contractor and such laborers and mechanics.
Contributions made or costs reasonably anticipated for bona fide fringe benefits under section 1(b)(2)of
the Davis-Bacon Act on behalf of laborers or mechanics are considered wages paid to such laborers or
mechanics,subject to the provisions of paragraph(a)(1)(iv)of this section;also,regular contributions made
or costs incurred for more than a weekly period(but not less often than quarterly)under plans,funds,or
programs which cover the particular weekly period, are deemed to be constructively made or incurred
during such weekly period.Such laborers and mechanics shall be paid the appropriate wage rate and fringe
benefits on the wage determination for the classification of work actually performed,without regard to skill,
except as provided in§5.5(a)(4).Laborers or mechanics performing work in more than one classification
may be compensated at the rate specified for each classification for the time actually worked therein:
Provided, that the employer's payroll records accurately set forth the time spent in each classification in
which work is performed.The wage determination(including any additional classification and wage rates
conformed under paragraph(a)(1)(ii)of this section)and the Davis-Bacon poster(WH-1321)shall be posted
at all times by the contractor and its subcontractors at the site of the work in a prominent and accessible
place where it can be easily seen by the workers.
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Sub recipients may obtain wage determinations from the U.S. Department of Labor's web site,
www.dol.gov.
(ii)(A)The sub recipient(s),on behalf of EPA,shall require that any class of laborers or mechanics,including
helpers,which is not listed in the wage determination and which is to be employed under the contract shall
be classified in conformance with the wage determination.The State award official shall approve a request
for an additional classification and wage rate and fringe benefits therefore only when the following criteria
have been met:
(1)The work to be performed by the classification requested is not performed by a classification in the wage
determination;and
(2)The classification is utilized in the area by the construction industry;and
(3)The proposed wage rate,including any bona fide fringe benefits,bears a reasonable relationship to the
wage rates contained in the wage determination.
(B)If the contractor and the laborers and mechanics to be employed in the classification(if known),or their
representatives,and the sub recipient(s)agree on the classification and wage rate(including the amount
designated for fringe benefits where appropriate), documentation of the action taken and the request,
including the local wage determination shall be sent by the sub recipient(s)to the State award official.The
State award official will transmit the report,to the Administrator of the Wage and Hour Division,Employment
Standards Administration,U.S.Department of Labor,Washington,DC 20210 and to the EPA DB Regional
Coordinator concurrently. The Administrator, or an authorized representative, will approve, modify, or
disapprove every additional classification request within 30 days of receipt and so advise the State award
official or will notify the State award official within the 30-day period that additional time is necessary.
(C) In the event the contractor, the laborers or mechanics to be employed in the classification or their
representatives,and the and the sub recipient(s)do not agree on the proposed classification and wage rate
(including the amount designated for fringe benefits,where appropriate),the award official shall refer the
request, and the local wage determination, including the views of all interested parties and the
recommendation of the State award official,to the Administrator for determination.The request shall be
sent to the EPA Regional Coordinator concurrently.The Administrator,or an authorized representative,will
issue a determination within 30 days of receipt of the request and so advise the contracting officer or will
notify the contracting officer within the 30-day period that additional time is necessary.
(D) The wage rate (including fringe benefits where appropriate) determined pursuant to paragraphs
(a)(1)(ii)(B)or(C)of this section,shall be paid to all workers performing work in the classification under this
contract from the first day on which work is performed in the classification.
(iii) Whenever the minimum wage rate prescribed in the contract for a class of laborers or mechanics
includes a fringe benefit which is not expressed as an hourly rate,the contractor shall either pay the benefit
as stated in the wage determination or shall pay another bona fide fringe benefit or an hourly cash
equivalent thereof.
(iv)If the contractor does not make payments to a trustee or other third person,the contractor may consider
as part of the wages of any laborer or mechanic the amount of any costs reasonably anticipated in providing
bona fide fringe benefits under a plan or program, Provided,That the Secretary of Labor has found,upon
the written request of the contractor,that the applicable standards of the Davis-Bacon Act have been met.
The Secretary of Labor may require the contractor to set aside in a separate account assets for the meeting
of obligations under the plan or program.
(2)Withholding.The sub recipient(s)shall upon written request of the EPA Award Official or an authorized
representative of the Department of Labor,withhold or cause to be withheld from the contractor under this
contract or any other Federal contract with the same prime contractor, or any other federally-assisted
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contract subject to Davis-Bacon prevailing wage requirements,which is held by the same prime contractor,
so much of the accrued payments or advances as may be considered necessary to pay laborers and
mechanics,including apprentices,trainees,and helpers,employed by the contractor or any subcontractor
the full amount of wages required by the contract. In the event of failure to pay any laborer or mechanic,
including any apprentice,trainee,or helper,employed or working on the site of the work,all or part of the
wages required by the contract,the(Agency)may,after written notice to the contractor,sponsor,applicant,
or owner,take such action as may be necessary to cause the suspension of any further payment,advance,
or guarantee of funds until such violations have ceased.
(3)Payrolls and basic records.
(i)Payrolls and basic records relating thereto shall be maintained by the contractor during the course of the
work and preserved for a period of three years thereafter for all laborers and mechanics working at the site
of the work.Such records shall contain the name,address,and social security number of each such worker,
his or her correct classification, hourly rates of wages paid (including rates of contributions or costs
anticipated for bona fide fringe benefits or cash equivalents thereof of the types described in section
1(b)(2)(B)of the Davis-Bacon Act),daily and weekly number of hours worked,deductions made and actual
wages paid.Whenever the Secretary of Labor has found under 29 CFR 5.5(a)(1)(iv)that the wages of any
laborer or mechanic include the amount of any costs reasonably anticipated in providing benefits under a
plan or program described in section 1(b)(2)(B) of the Davis-Bacon Act, the contractor shall maintain
records which show that the commitment to provide such benefits is enforceable,that the plan or program
is financially responsible,and that the plan or program has been communicated in writing to the laborers or
mechanics affected,and records which show the costs anticipated or the actual cost incurred in providing
such benefits. Contractors employing apprentices or trainees under approved programs shall maintain
written evidence of the registration of apprenticeship programs and certification of trainee programs, the
registration of the apprentices and trainees, and the ratios and wage rates prescribed in the applicable
programs.
(ii)(A)The contractor shall submit weekly,for each week in which any contract work is performed,a copy
of all payrolls to the sub recipient, that is, the entity that receives the sub-grant or loan from the State
capitalization grant recipient. Such documentation shall be available on request of the State recipient or
EPA. As to each payroll copy received, the sub recipient shall provide written confirmation in a form
satisfactory to the State indicating whether or not the project is in compliance with the requirements of 29
CFR 5.5(a)(1)based on the most recent payroll copies for the specified week.The payrolls shall set out
accurately and completely all of the information required to be maintained under 29 CFR 5.5(a)(3)(i),except
that full social security numbers and home addresses shall not be included on the weekly payrolls. Instead
the payrolls shall only need to include an individually identifying number for each employee(e.g.,the last
four digits of the employee's social security number). The required weekly payroll information may be
submitted in any form desired.Optional Form WH-347 is available for this purpose from the Wage and Hour
Division Web site at http://www.dol.govtwhd/forms/wh347instr.htm or its successor site. The prime
contractor is responsible for the submission of copies of payrolls by all subcontractors. Contractors and
subcontractors shall maintain the full social security number and current address of each covered worker,
and shall provide them upon request to the sub recipient(s)for transmission to the State or EPA if requested
by EPA,the State,the contractor,or the Wage and Hour Division of the Department of Labor for purposes
of an investigation or audit of compliance with prevailing wage requirements. It is not a violation of this
section for a prime contractor to require a subcontractor to provide addresses and social security numbers
to the prime contractor for its own records,without weekly submission to the sub recipient(s).
(B)Each payroll submitted shall be accompanied by a"Statement of Compliance,"signed by the contractor
or subcontractor or his or her agent who pays or supervises the payment of the persons employed under
the contract and shall certify the following:
(1) That the payroll for the payroll period contains the information required to be provided under§ 5.5
(a)(3)(ii)of Regulations,29 CFR part 5,the appropriate information is being maintained under§5.5(a)(3)(i)
of Regulations,29 CFR part 5,and that such information is correct and complete;
D-23
(2)That each laborer or mechanic(including each helper,apprentice,and trainee)employed on the contract
during the payroll period has been paid the full weekly wages earned, without rebate, either directly or
indirectly,and that no deductions have been made either directly or indirectly from the full wages earned,
other than permissible deductions as set forth in Regulations,29 CFR part 3;
(3)That each laborer or mechanic has been paid not less than the applicable wage rates and fringe benefits
or cash equivalents for the classification of work performed, as specified in the applicable wage
determination incorporated into the contract.
(C)The weekly submission of a properly executed certification set forth on the reverse side of Optional
Form WH-347 shall satisfy the requirement for submission of the"Statement of Compliance"required by
paragraph(a)(3)(ii)(8)of this section.
(D)The falsification of any of the above certifications may subject the contractor or subcontractor to civil or
criminal prosecution under section 1001 of title 18 and section 231 of title 31 of the United States Code.
(iii)The contractor or subcontractor shall make the records required under paragraph(a)(3)(i)of this section
available for inspection, copying, or transcription by authorized representatives of the State, EPA or the
Department of Labor,and shall permit such representatives to interview employees during working hours
on the job.If the contractor or subcontractor fails to submit the required records or to make them available,
the Federal agency or State may,after written notice to the contractor,sponsor,applicant,or owner,take
such action as may be necessary to cause the suspension of any further payment,advance,or guarantee
of funds.Furthermore,failure to submit the required records upon request or to make such records available
may be grounds for debarment action pursuant to 29 CFR 5.12.
(4)Apprentices and trainees—
(i)Apprentices.Apprentices will be permitted to work at less than the predetermined rate for the work they
performed when they are employed pursuant to and individually registered in a bona fide apprenticeship
program registered with the U.S.Department of Labor,Employment and Training Administration,Office of
Apprenticeship Training,Employer and Labor Services,or with a State Apprenticeship Agency recognized
by the Office, or if a person is employed in his or her first 90 days of probationary employment as an
apprentice in such an apprenticeship program,who is not individually registered in the program,but who
has been certified by the Office of Apprenticeship Training, Employer and Labor Services or a State
Apprenticeship Agency(where appropriate)to be eligible for probationary employment as an apprentice.
The allowable ratio of apprentices to journeymen on the job site in any craft classification shall not be
greater than the ratio permitted to the contractor as to the entire work force under the registered program.
Any worker listed on a payroll at an apprentice wage rate,who is not registered or otherwise employed as
stated above, shall be paid not less than the applicable wage rate on the wage determination for the
classification of work actually performed. In addition, any apprentice performing work on the job site in
excess of the ratio permitted under the registered program shall be paid not less than the applicable wage
rate on the wage determination for the work actually performed. Where a contractor is performing
construction on a project in a locality other than that in which its program is registered,the ratios and wage
rates (expressed in percentages of the journeyman's hourly rate) specified in the contractor's or
subcontractors registered program shall be observed. Every apprentice must be paid at not less than the
rate specified in the registered program for the apprentice's level of progress,expressed as a percentage
of the journeymen hourly rate specified in the applicable wage determination.Apprentices shall be paid
fringe benefits in accordance with the provisions of the apprenticeship program. If the apprenticeship
program does not specify fringe benefits,apprentices must be paid the full amount of fringe benefits listed
on the wage determination for the applicable classification.If the Administrator determines that a different
practice prevails for the applicable apprentice classification,fringes shall be paid in accordance with that
determination.In the event the Office of Apprenticeship Training,Employer and Labor Services,or a State
Apprenticeship Agency recognized by the Office,withdraws approval of an apprenticeship program, the
contractor will no longer be permitted to utilize apprentices at less than the applicable predetermined rate
for the work performed until an acceptable program is approved.
D-24
(ii)Trainees. Except as provided in 29 CFR 5.16, trainees will not be permitted to work at less than the
predetermined rate for the work performed unless they are employed pursuant to and individually registered
in a program which has received prior approval,evidenced by formal certification by the U.S.Department
of Labor,Employment and Training Administration.The ratio of trainees to journeymen on the job site shall
not be greater than permitted under the plan approved by the Employment and Training Administration.
Every trainee must be paid at not less than the rate specified in the approved program for the trainee's level
of progress,expressed as a percentage of the journeyman hourly rate specified in the applicable wage
determination. Trainees shall be paid fringe benefits in accordance with the provisions of the trainee
program. If the trainee program does not mention fringe benefits,trainees shall be paid the full amount of
fringe benefits listed on the wage determination unless the Administrator of the Wage and Hour Division
determines that there is an apprenticeship program associated with the corresponding journeyman wage
rate on the wage determination which provides for less than full fringe benefits for apprentices. Any
employee listed on the payroll at a trainee rate who is not registered and participating in a training plan
approved by the Employment and Training Administration shall be paid not less than the applicable wage
rate on the wage determination for the classification of work actually performed. In addition, any trainee
performing work on the job site in excess of the ratio permitted under the registered program shall be paid
not less than the applicable wage rate on the wage determination for the work actually performed. In the
event the Employment and Training Administration withdraws approval of a training program,the contractor
will no longer be permitted to utilize trainees at less than the applicable predetermined rate for the work
performed until an acceptable program is approved.
(iii)Equal employment opportunity.The utilization of apprentices,trainees and journeymen under this part
shall be in conformity with the equal employment opportunity requirements of Executive Order 11246,as
amended and 29 CFR part 30.
(5)Compliance with Copeland Act requirements.The contractor shall comply with the requirements of 29
CFR part 3,which are incorporated by reference in this contract.
(6)Subcontracts.The contractor or subcontractor shall insert in any subcontracts the clauses contained in
29 CFR 5.5(a)(1)through(10)and such other clauses as the EPA determines may by appropriate,and also
a clause requiring the subcontractors to include these clauses in any lower tier subcontracts.The prime
contractor shall be responsible for the compliance by any subcontractor or lower tier subcontractor with all
the contract clauses in 29 CFR 5.5.
(7)Contract termination:debarment.A breach of the contract clauses in 29 CFR 5.5 may be grounds for
termination of the contract,and for debarment as a contractor and a subcontractor as provided in 29 CFR
5.12.
(8)Compliance with Davis-Bacon and Related Act requirements.All rulings and interpretations of the Davis-
Bacon and Related Acts contained in 29 CFR parts 1,3,and 5 are herein incorporated by reference in this
contract.
(9) Disputes concerning labor standards. Disputes arising out of the labor standards provisions of this
contract shall not be subject to the general disputes clause of this contract.Such disputes shall be resolved
in accordance with the procedures of the Department of Labor set forth in 29 CFR parts 5,6,and 7.Disputes
within the meaning of this clause include disputes between the contractor(or any of its subcontractors)and
Sub recipient(s),State,EPA,the U.S.Department of Labor,or the employees or their representatives.
(10)Certification of eligibility.
(i)By entering into this contract,the contractor certifies that neither it(nor he or she)nor any person or firm
who has an interest in the contractor's firm is a person or firm ineligible to be awarded Government contracts
by virtue of section 3(a)of the Davis-Bacon Act or 29 CFR 5.12(a)(1).
D-25
(ii)No part of this contract shall be subcontracted to any person or firm ineligible for award of a Government
contract by virtue of section 3(a)of the Davis-Bacon Act or 29 CFR 5.12(a)(1).
(iii)The penalty for making false statements is prescribed in the U.S.Criminal Code, 18 U.S.C. 1001.
4.Contract Provision for Contracts in Excess of$100,000.
(a)Contract Work Hours and Safety Standards Act.The sub recipient shall insert the following clauses set
forth in paragraphs(a)(1),(2), (3),and(4)of this section in full in any contract in an amount in excess of
$100,000 and subject to the overtime provisions of the Contract Work Hours and Safety Standards Act.
These clauses shall be inserted in addition to the clauses required by Item 3,above or 29 CFR 4.6.As used
in this paragraph,the terms laborers and mechanics include watchmen and guards.
(1)Overtime requirements. No contractor or subcontractor contracting for any part of the contract work
which may require or involve the employment of laborers or mechanics shall require or permit any such
laborer or mechanic in any workweek in which he or she is employed on such work to work in excess of
forty hours in such workweek unless such laborer or mechanic receives compensation at a rate not less
than one and one-half times the basic rate of pay for all hours worked in excess of forty hours in such
workweek.
(2)Violation;liability for unpaid wages;liquidated damages.In the event of any violation of the clause set
forth in paragraph(b)(1)of this section the contractor and any subcontractor responsible therefore shall be
liable for the unpaid wages. In addition, such contractor and subcontractor shall be liable to the United
States(in the case of work done under contract for the District of Columbia or a territory,to such District or
to such territory),for liquidated damages.Such liquidated damages shall be computed with respect to each
individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set
forth in paragraph(b)(1)of this section,in the sum of$10 for each calendar day on which such individual
was required or permitted to work in excess of the standard workweek of forty hours without payment of
the overtime wages required by the clause set forth in paragraph(b)(1)of this section.
(3)Withholding for unpaid wages and liquidated damages.The sub recipient shall upon the request of the
EPA Award Official or an authorized representative of the Department of Labor,withhold or cause to be
withheld,from any moneys payable on account of work performed by the contractor or subcontractor under
any such contract or any other Federal contract with the same prime contractor, or any other federally
assisted contract subject to the Contract Work Hours and Safety Standards Act,which is held by the same
prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such
contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in
paragraph(a)(2)of this section.
(4)Subcontracts.The contractor or subcontractor shall insert in any subcontracts the clauses set forth in
paragraph(a)(1)through(4)of this section and also a clause requiring the subcontractors to include these
clauses in any lower tier subcontracts. The prime contractor shall be responsible for compliance by any
subcontractor or lower tier subcontractor with the clauses set forth in paragraphs(a)(1)through(4)of this
section.
(c)In addition to the clauses contained in Item 3,above,in any contract subject only to the Contract Work
Hours and Safety Standards Act and not to any of the other statutes cited in 29 CFR 5.1,the Sub recipient
shall insert a clause requiring that the contractor or subcontractor shall maintain payrolls and basic payroll
records during the course of the work and shall preserve them for a period of three years from the
completion of the contract for all laborers and mechanics,including guards and watchmen,working on the
contract.Such records shall contain the name and address of each such employee,social security number,
correct classifications, hourly rates of wages paid,daily and weekly number of hours worked,deductions
made,and actual wages paid.Further,the Sub recipient shall insert in any such contract a clause providing
that the records to be maintained under this paragraph shall be made available by the contractor or
subcontractor for inspection,copying,or transcription by authorized representatives of the(write the name
D-26
of agency) and the Department of Labor, and the contractor or subcontractor will permit such
representatives to interview employees during working hours on the job.
5.Compliance Verification
(a)The sub recipient shall periodically interview a sufficient number of employees entitled to DB prevailing
wages(covered employees)to verify that contractors or subcontractors are paying the appropriate wage
rates.As provided in 29 CFR 5.6(a)(6),all interviews must be conducted in confidence.The sub recipient
must use Standard Form 1445 (SF 1445) or equivalent documentation to memorialize the interviews.
Copies of the SF 1445 are available from EPA on request.
(b)The sub recipient shall establish and follow an interview schedule based on its assessment of the risks
of noncompliance with DB posed by contractors or subcontractors and the duration of the contract or
subcontract. Sub recipients must conduct more frequent interviews if the initial interviews or other
information indicated that there is a risk that the contractor or subcontractor is not complying with DB.Sub
recipients shall immediately conduct interviews in response to an alleged violation of the prevailing wage
requirements.All interviews shall be conducted in confidence."
(c).The sub recipient shall periodically conduct spot checks of a representative sample of weekly payroll
data to verify that contractors or subcontractors are paying the appropriate wage rates.The sub recipient
shall establish and follow a spot check schedule based on its assessment of the risks of noncompliance
with DB posed by contractors or subcontractors and the duration of the contract or subcontract. At a
minimum,if practicable the sub recipient should spot check payroll data within two weeks of each contractor
or subcontractor's submission of its initial payroll data and two weeks prior to the completion date the
contract or subcontract.Sub recipients must conduct more frequent spot checks if the initial spot check or
other information indicates that there is a risk that the contractor or subcontractor is not complying with DB.
In addition, during the examinations the sub recipient shall verify evidence of fringe benefit plans and
payments there under by contractors and subcontractors who claim credit for fringe benefit contributions.
(d). The sub recipient shall periodically review contractors and subcontractors use of apprentices and
trainees to verify registration and certification with respect to apprenticeship and training programs
approved by either the U.S Department of Labor or a state, as appropriate, and that contractors and
subcontractors are not using disproportionate numbers of, laborers, trainees and apprentices. These
reviews shall be conducted in accordance with the schedules for spot checks and interviews described in
Item 5(b)and(c)above.
(e)Sub recipients must immediately report potential violations of the DB prevailing wage requirements to
the EPA DB contact listed above and to the appropriate DOL Wage and Hour District Office listed at
hftp:/Avww.dol.gov/whd/america2.htm.
D-27
Natural Resources Division
Batesville-02213-DW-L
Loan Amortization Report
Loan Disbursement First Repayment Total Amortization Interest Annual onstruction Interest
Closing Cut-off Payment Length Number of Start Lending Total Start
Date Date Date Years Payments Date Rate Principal Date
Oct 22,2024 Apr 1.2028 May 1,2028 20 240 May 1,2028 1.75% $ 110,000,000.00 Oct 22,2024
Num Date Principal Rate Interest Fees Total Contracted Bal
0 // $000 0 $000 5000 $0.00 $110,000,000.00
1 051012028 $383.125.02 0.75 588.75000 $91,66667 $543.541.69 $109,616,87498
2 06/012028 $383,683.74 0.75 $68,51055 $91,347.40 $543,541.89 $109.233,19124
3 07/012028 $384.243.29 075 $68,27074 $91,02766 $543,541.69 $108,848,94795
4 081012028 $384,803 r4 075 $68,03059 $90,707.46 $543,541.69 $108,464,14431
5 09/01/2028 $385.364.81 075 $67,79009 $90,386.79 $543,54169 $108,078,779.50
6 101012028 $385,92680 075 $67,54924 $90.065.65 $543,54169 $107,892,852,70
7 11/012028 $386.489.62 075 $67,30803 $89,744.04 $543.541.69 $107,306,363.08
8 10012028 $387,053.24 075 $67,066.48 $89,42197 $543,541.69 $106,919,309.84
9 011012029 $387.617,70 0.75 $66,82457 $89,099.42 $543,54109 $108,531,892.14
10 02/0112029 $388,18297 075 $66.582.31 $88,776.41 $543,541,69 $106,143,509,17
11 03/012029 $388,74908 075 $66,339.69 588,452.92 $543.54169 $105,754.760,09
12 04/012029 $389.315.99 075 $66.096.73 $88.12897 $543,54109 $105,365,444.10
13 OS/012029 $389.88375 075 $65,853.40 $87.80454 $543.54169 $10075,560.35
14 06I012029 $390,45233 075 S65,60973 $8747963 $543,54169 $104,585,10802
15 07/01/2029 $391,02174 075 $65,365,69 $87.15426 $543,54169 $104,194,036.28
16 081012029 $391,59198 075 $65,121,30 $86.82841 $543,54169 $103,802,49430
17 0910112029 5392,16305 0.75 $64.87656 S86,50208 $543,54169 $103,410,33125
18 101O12029 5392,73495 075 $64,63146 $86.17528 $543,541.69 $103,017.59630
19 11/012029 $393,30769 075 $64,386.00 $85.848 DO $543,54169 $102,624,28861
20 12/01/2029 $393,88127 075 564,14018 585,52024 $543,54169 $102,230,407.34
21 01/012030 $394.45568 0.75 $63,89400 $85,19201 $543,54169 $101,835,95166
22 02/012030 $395.03093 075 $63,64747 $84,86329 $543.541.69 $101,440.92073
23 03I012030 $395,60701 0.75 $63,40058 $84,53410 $543.54169 $101.045,313.72
24 041012030 $396.183.94 075 $63,15332 584,204.43 $543,541.69 $100,64912978
25 05I012030 $396.761.71 075 $62,905.71 $83,87427 $543,54169 $100,252,368.07
26 06/012030 $397.340,32 075 $62.65773 $83,543.64 $543,541.69 $99.855,02775
27 071O12030 $397.91978 075 $62.40939 $83,21252 $543,54169 $99,457,10797
28 06012030 5398.500.08 075 $62.16069 582,880.92 $543.541,69 $99,058,607.89
29 09012030 $399.081.22 075 $61.91163 $82,54884 $543,54169 $98.659.52667
30 1OO112030 $399.663.22 075 $61,66220 $82.21627 5543.541.69 $98,259,863.45
31 11/01/2030 $400,24606 075 $61.41241 $81,883,22 $543,54169 $97,859,61739
32 12/012030 $400,82975 0.75 $81.16226 $81.54968 $543,54169 $97,458,78764
33 01/01=31 $40141429 075 .$60,91174 581,21566 $543,54169 $97,057.37335
34 020012031 W1,999.69 0.75 $60,660.86 $80.88114 $543.54169 $96.655.37366
35 030O1=1 $402,58594 0.75 $60,40961 $80.54614 $543.54169 $96,252.78772
36 04/012031 $403,17304 075 $60,15799 580,21066 $543,54169 $95,849,61468
37 051012031 $403,76100 075 $59,90601 $79,87468 $543,54169 $95,445,85368
38 00101=1 $404,34982 0.75 $59,653 fib $79,53821 $543,54169 $95,041,503AS
39 071012031 $404,93950 075 $59,40094 $79.20125 $543,54169 $94.636.56436
40 081012031 $405.530.04 0,75 $59,14785 $78,863.80 $543.54169 $94.231,03432
41 09012031 $406,121.43 0.75 $58,89440 $78,52586 $543,54169 $93.824,91289
42 10/01=1 $406.713.69 0,75 $58,64057 $78,18743 $543,54169 $93,418,199,20
43 11/012031 $407.30682 0.75 $58,38637 $77.846.50 $543,54169 $93,010,892.38
44 121012031 $407,900.80 075 $58.131.61 E77,509.08 $543,54169 $92.602,991.58
45 O11O12032 $40B,49566 075 $57,87697 $77,189.16 $543,54169 $92.194.49592
46 02/012032 $409,091.38 075 $57.621.56 $76,828.75 $543.54169 $91,785,40454
47 03/012032 $409,68797 075 $57.365.88 $76,487.84 $543.54169 $91,375,716.57
48 04/012032 $410,28544 075 $57,10982 $76.14643 $543.54169 $90,965.431,13
49 051012032 3410,883n 075 $56.85339 $75,80453 $543,541.69 $90.554.54736
50 061012032 5411,48290 075 $56,59659 $75,46212 $543,541.69 $90.143.064.38
51 071012032 $412,08305 0.75 $56,33942 $75.11922 $543.541.69 $BB,730,98133
52 061012032 $412,68401 0.75 $56,08186 $74,77582 $543,541.69 $89,318,29732
53 09/012032 $413.285 a4 075 $55,82394 $74,431.91 $543,54169 $88.905.011.48
54 10/012032 $413.88855 075 $55,56563 $74,08751 $543,54169 $88,491,122.93
55 11/012032 $414,492.14 075 $55,306.95 $73,74260 $543,54169 $88.076.630.79
56 120012032 $415.09661 075 $55,04789 $73.397.19 $543,54169 $87.661,534.18
57 011012033 $415.701.95 075 $54,78846 $73o5128 $543,54169 $87.245,832.23
58 02/012033 $416,308.18 075 $54.528.65 $72,704,86 $543.541.69 $86,829,52405
59 03412033 $416,91530 075 $54.26845 $72,35794 $543,541.69 $86,412,60875
60 04/012033 $417,52330 075 $54,007.88 $72.01051 $543.541.69 $85,995,08545
61 06012033 5418.13219 075 $53.74693 $71.662.57 $543.541.69 $85.576.95326
62 060012033 $418,74196 075 $53,48560 $71.31413 $543,541.W $85,158,211.30
63 07/012033 $419,35263 075 $53,22388 $70.96518 $543,541.69 $84,738.SW,67
64 08I012033 $419,96418 075 $52,96179 $70,81572 $543,541.69 $84,318,89449
65 091012033 $420,576.83 075 $52.699.31 $70,26575 $543,541.69 $83.898,31786
66 10012033 $421.18998 0.75 $52,43645 569,91528 $543,541.69 583,477,12788
67 111012033 $421.80422 0.75 $52,17320 $69,56427 $543,54169 $83.055.323,66
68 12/012033 $422,419.34 0.75 S51,90958 569,21277 $543,54169 582.632,90432
69 01/01/2034 $423.03537 0,75 $51,64557 $68,860.75 $543,54169 $82,209,868.95
70 02/012034 5423,652.30 075 $51,381.17 $68,50822 $543.541.69 $81786,216.65
71 03012034 $424,27012 0,75 $51.11639 $68,15518 $543.54169 $81,361,946.53
72 04/012034 5424,88885 075 $50.851.22 $67,80162 $543,541.69 $80.937,05768
73 OWl2034 $425.508,48 075 $50,58566 $67,44755 $543,541.69 580,511,549.20
74 061O1/2034 $426,129,01 0.75 $50.31972 $67,092.96 5543,54169 $80,065,42019
75 07MI12034 $426,75045 075 $50.053.39 $66,73785 $543,541.69 $79.668,66974
76 08012034 5427,37280 075 549,78667 $66.382.22 $543,541.89 $79.231.29694
77 09N12034 $427,99605 075 549,51956 $66,02608 $543.541.69 $78,803,300.e9
78 10/012034 $428,620.21 075 $49,25206 $65.669.42 $543,541.69 $78,374,680.68
79 11/012034 $429,24528 075 548,98418 $65.31223 $543.541.69 $77,945.43540
80 12/012034 S429,87125 075 $48,715.90 $64,954.53 $543.541,69 $77,515,564.14
81 0101=5 $430.49816 075 $48.44723 $64,596.30 $543,54169 S77,085,065.98
82 02/012035 $431.125.97 075 $4.17817 S64,23755 $543.54169 $76,653,940,01
83 03012035 $43175470 075 $47.908.71 $63.878.28 $543.54169 $76,222.18531
84 04M 2035 $432.38433 075 $47.638.87 $63.51849 $543,541 W $75,789.80090
85 05012035 $433,01489 075 $47,36863 $63.158.17 $543,541 W $75,356.78609
86 06012035 $433,64638 075 $47,09799 $62,79732 $543,541.69 $74,923.139,71
87 0710/2035 $434.77878 075 S46,82696 S62,43595 $543.541.89 $74,48B,860.93
Be 08012035 $434,91210 0.75 S46.W5.54 $62,07405 $543.54169 $74,053.948,83
89 09/01/2035 $435.54635 075 $46,28372 $61.71162 $543,54169 $73,618.40248
90 1001R035 $436,18152 075 S46,01150 $61,348.67 $543.54169 $73,182,220.96
91 111O 2035 $436,81762 075 S45,73889 S8098518 $543,541.W $72,745,403.34
92 12012035 $437,45484 075 S45,465 BB SW,82117 $543.54169 $72,307.94870
93 01/012036 $438,09260 075 S45,19247 $60.256.62 $543,54169 $71,869,85610
94 02/012036 S438.73148 075 $44,918 fib $59,891 55 $543.541 W $71431.124,62
95 03012036 $439,37130 0.75 $44,644.45 S59.52594 $543,54169 $70,991,75332
96 041012036 $440,01205 075 S44.369.85 $59.15979 $543.54169 $70551,741.27
97 05/012036 $440,653.73 075 $44,094.84 $58.79312 $543,54169 $70,111.08754
98 0&D1/2038 $441,29635 0.75 $43,81943 $58.425.91 $543,541.69 $69,669.791.19
99 07g12036 S441,939.91 075 $43.543.62 $58.05816 S543.54189 $69,227,85128
100 0801/2036 $442,58440 075 $43,26741 $57.689.88 $543,54169 $68,785,26688
101 =01/2036 $443,22984 075 $42,99079 $57,32106 $543,54169 $68,342.03704
102 ION12036 $443.87622 0,75 S42,7137 S56,95170 $543,541.69 $67,898,16082
103 11I012036 S444.52354 0.75 $42.43635 S56,58180 $543,54169 S67,453,637.28
104 1201 am $445.17181 075 $42,15852 $56,21136 $543,541.69 $67,008,46547
105 011012037 $445.82101 0,75 $41,88029 $55,84039 $543,541.69 $66.562,64446
106 02101=7 SW.471.17 075 S41,60165 S55,46887 S543,541.69 S66,116,173.29
107 03012037 $447,12277 0.75 $41,32261 $55,09681 $543,541.69 W.669.05102
108 04/012037 $447,77432 0.75 $41,04316 $54,72421 $543,541.69 $66.221,27670
109 05012037 $448.42733 0,75 $40,76330 $54,35106 $543,541.69 S64,772,849.37
110 06012037 $449.08129 0.75 $40,48303 $53,97737 $543,541.69 S64,323,76800
111 071012037 S449.736.19 075 $40.20236 $53,603.14 $543,54169 $63.874,031.89
112 081012037 $450,39206 035 $39,92127 $W.22836 S543,54169 $63.423,63983
113 09/01/2037 $45104889 0,75 $39,63877 $52,85303 $543,541.69 $62.972,590.W
114 10/012037 $4517W% 075 $39,35787 $52,47718 $543,541.W $62.520,88428
115 11/012037 S452.36540 075 $39.075.55 $52,100.74 $543,541.69 $62.068.51888
116 12A72037 S453,02510 075 $38,792.82 $51,723.77 S543,541.69 S61.615,49378
117 01/012038 $453,68577 075 $38,509 fib $51,34624 $543,541,69 $61,161,88 01
118 02/012038 $454,34739 075 $38.22613 $50,968.17 $543,541,69 $60,707,460.62
119 03012M $455,00998 075 S37,94216 $50.589.55 $543,541,69 $60.252.450.64
120 041O 2038 $455.973,53 075 $37,65778 $50,21038 $543,541.69 $59,798,777.11
121 OS012038 $456.33805 075 $37.37299 $49,830.65 $543,541.69 $59,340,439.06
122 06/012038 $457,00355 075 $37.08777 $49,450.37 $543.54169 $58,883,435.51
123 07A72038 $457.67001 075 $36.W215 $49,06953 $543.54169 $58,425,765.50
124 OB'01203B S458,337.45 075 $36.51610 $48,68814 $543,54169 $57,967,42805
125 0=12038 $459,005.86 075 $36,22964 $48,306,19 $543.541.69 $57,508,422,19
126 1=112038 $459,675,24 075 $35.94276 $47,923,69 $543.54169 $57,048,74695
127 11A12038 $460,34560 075 535.655.47 S47,540.62 $543.54169 $56,588.401,35
128 12A1/2038 $46101694 075 $35.36775 $47,157.00 $543.54169 $56,127,384.41
129 011012039 $461,6B9.25 075 $35.07962 $4677282 $543.541.69 $55,665,695.16
130 OZD112039 $462,36255 075 $34.791.06 $46.38808 $543.541.69 $55,203,332.61
131 03012039 $463,03683 075 $34.502.00 S46,00278 $543.54169 $54,740.295,78
132 04012039 $463,71210 075 $34.212.68 $45,61691 $543.54169 S54,276,583.68
133 05/01/2039 $464,38834 075 $33.92286 $45,2W 49 $543,54169 $53,812,195,34
134 061012039 $465,06557 075 $33.63262 $44.84350 $543.54169 $53,347.12977
135 07012039 $465,74379 075 $33.341.95 544.45594 $543.541.69 $52.881.38598
136 OB/012039 $466,423 OD 075 $33.050.87 $44,06782 $543.541 W $52,414,96298
137 09/01/2039 $467,10320 0,75 $32,759,35 $43.67914 $543,54169 $51,947.85978
138 10/012039 $467,78440 0.75 $32,46741 $43,28988 $543,541,69 $51,480,07538
139 11101I2039 $468.46658 075 S32,17505 S42,90006 $543,541.69 $51011.608.80
140 12I012039 $469,149.76 075 $31.88226 $42,509.67 $543,54169 $50.542,45904
141 01/OM= $469,83393 075 $31,SW 04 $42,118.72 $543,541.69 $50,072,625,11
142 02/012040 $470,51911 075 $31.295.39 $41727,19 $543.54169 $49,602,10800
143 03g12040 S471,205.28 075 S31,001.32 S41,335.09 $543,541.69 $49.130,90072
144 04g12040 $471.892,46 075 $30,706.81 $40,942,42 $543.541.69 $48,659,OOB26
145 05012040 $472,5W 64 075 $30.411.88 $40,549.17 $543.541.69 $48,186,42762
146 O8Ml2040 $473,26981 075 $30.11652 $40,15536 $543,54169 $47,713,15781
147 07/012040 $473,96001 075 $29,820.72 $39,760.96 $543.541.69 $47,239,197W
148 08012040 $474.65119 075 $29.524.50 S39,36600 $543,541.69 $46,764.54661
149 0=112040 $475,34339 075 $29.227.84 $35.970.46 $543.541.59 $46,289,203.22
150 1O/012040 $476,03660 075 $28,93075 $38.57434 $543,541.69 $45,813.16562
151 111012040 S476,73082 075 $28,63323 $38,177.64 $543.541.69 $45.336.43580
152 1=l2040 S4T.42606 075 $M,335.27 S37,7W 36 $543.541.69 $44,859,00974
153 01012041 $478,122W 075 $28.03688 $37,38251 $543,541.69 $44,3 .887.44
154 02/012041 $478.81957 075 $77,736.05 $36,98407 $543,541.69 $43,902.06787
155 00012041 $479,51784 0.75 $2743879 $36,595.06 $543.541,69 543,422,55003
156 04012041 S48021714 075 $27.13909 $36.18546 $543,541.69 S42,942,332.89
157 OW12041 $480,91745 0.75 $26,83896 $35.78528 $543,541.69 $42,461.41544
158 06/012041 $481,61880 0,75 S26,53838 $35,3B451 $543,541.69 $41.979,796,64
159 07012041 S482.32116 0.75 S26.23737 $34.98316 $543,541,69 S41,497,475.48
1w 08012041 S483,024.54 075 $25,93592 $34,58123 $543,541.69 $41.014.45094
161 09/012041 $483.728.95 0.75 $25,634.03 $34,17871 $543,541 fig $40,530,721 99
162 101012W1 $484,43439 075 $25,33170 $33,77560 $543,541.69 $40,046,287.60
163 11012041 $485,140.85 075 $25.028.93 $33,37191 $543.54169 $39,561,146.75
164 12g12041 $485,848.35 075 $24,725,72 $3296762 $543.54169 $39,075,29B.40
165 01/012042 $486,5%88 075 $24.422.06 $32,56275 $543.54169 $38,588,741,52
166 0L012042 $487,266.45 075 $24,117,96 $32.157.28 $543,541.69 $38,101.475.07
167 03/012042 $487,97704 075 $23,51342 $31.75123 $543.541.69 $37.613.49803
168 041012042 $488,688.67 0.75 $23,50844 $31.34458 $543,541.69 $37,124,8W 36
169 05/012042 $489,40134 075 $23,20301 $30.93734 $543.541.W $36,635.408.02
170 06/012042 $490,11505 075 $22,897.13 $30,529.51 $543.54169 $36,145.292,97
171 07/012042 $490.82980 075 $22.59081 $30.12108 $543.54169 $35,654.46317
172 08N12042 $491.545.60 075 $22,29404 $29,712.05 $543.541.69 $35.162,91T57
173 094712042 $492.26244 075 $21.97682 $29.302,43 $543,541.69 $34.670,655-13
174 10/012042 $492,98032 075 $21,66916 $28,89221 $543,541.69 $34,1n,674.81
175 11/012042 $493,69924 075 $21,361.05 $28.48140 $543,54169 $33,683,975.57
176 12101/2D42 $494,41923 0.75 $21,052.48 $28,069.98 $543,54169 $33,189.55634
177 011012043 $495,14026 075 $20,743.47 $77.65796 $543,54169 $32,694.41608
178 02J012043 $495,89233 075 $20,43401 $27.24535 $543.54169 $32,198,553.75
179 03/012043 $496,58546 075 $20,124,10 $28,832.13 $543,54169 $31,701.96829
160 041012043 S497,30985 075 $19.813,73 $25,418.31 $543.54169 $31.204,65864
181 051012043 $498,034.90 075 $19,50291 $26,00388 $543,541.W $30,706.623.74
182 0&012043 $498,76120 075 $19.19164 $25,59885 $543,541.89 $30207,86254
183 07/012043 $499.48856 075 $18,879.91 $25,17322 $543,54169 $29,708.37398
184 08/012043 $500,21698 075 $18,567.73 $24,76690 $543,541.69 $29.208.15700
185 09/012043 $500.94646 075 $18,255.10 $24,34013 $543,54169 $28,707.210.54
186 10g12043 $501,6n 00 075 $17,94201 $23,92268 $543,54169 $28,205.53354
187 11/012043 $50240862 0.75 $17,628.46 $23.504.61 $543,54169 $27703,12492
188 12/012043 $503,141.30 075 $17,31445 $23.08594 $543.54169 $27,199,98362
189 01A72044 $503,87505 0.75 $16,99999 $22,66665 $543.541,69 $26,696.105,57
190 02101/2044 $504,609.86 0,75 $16,68507 $22,24676 $543.54169 $26,191.49071
191 03i012044 $505345.75 0,75 $16.36969 $21.82625 $543.54169 $25,686,15296
192 04/012044 $506,05271 075 $16,05385 $21,40513 $543,541.69 $25,180.070,25
193 05/0120b $5%.820.76 0,75 $15,73754 $20,98339 $543,541.69 $24,673,249.49
194 O6/0/2044 $507,559.87 075 $15,42078 $20,56104 $543,54169 $24,165.689.62
195 07/012044 $508.30006 075 $15,10356 $20,138.07 $543,541.69 $23.657,38956
196 08g12044 $509,041.33 075 $14,78587 $19,71449 $543,541.69 $23.148,34823
197 09A72044 $509,783.68 075 $14,49772 $19,290.29 $543,541.69 $22,638,56455
198 104)12044 $510.527.12 075 $14,149.10 $18,865.47 $543,541,69 $22.128,037.43
199 11/012044 $511.271.64 0,75 $13.83002 $18,440.03 $543,541,69 $21,616,765.79
200 126712044 $512,01724 075 $13.510.48 $18,013.97 $543,541,69 $21,104,748.55
201 01/012045 $512.763.93 075 $13.19047 $17.587.29 $543,541.69 $20,591,954.62
202 02/01/2045 $513.511 71 075 $12,889,99 $17.159,99 $543,54169 $20,078,472.91
203 03/012045 $514,28058 075 $12,549.05 $16,73206 $543.54169 $19,564,212.33
204 04/012045 S515.01055 075 $12.277.63 $18,303.51 $543.54169 $19,049,20178
205 05101/2045 $515,76161 075 $11.905.75 $15,874,33 $543.541.69 $18.533,440,17
206 061012045 $516,51376 0.75 $11.583.40 $15.44453 $543,541.69 $18,016,926.41
207 07/012045 $517,26700 075 $11,280.58 $15.01411 $543,541.69 $17.499,659.41
208 081012045 $518,02135 075 $10.93729 $14,583.05 $543,541.69 $16,981,63806
209 091D12045 $518,776.80 075 $10.813.52 $14.15137 $543.54169 $16,462,861,26
210 10/012045 S519,53335 075 $10.289.29 $13,719,05 $543,541.69 $15.943.327.91
211 11/012045 $520,291.00 075 $9.964.58 $13,28611 $543.541,69 $15,423,036.91
212 12/012045 $521,04976 075 $9.639.40 $12.85253 $543.54169 $14,901.96715
213 01/012046 S521,110963 075 $9.313.74 $12,418.32 $543.541,69 $14,380,17 52
214 02/012046 $522,57060 075 $8,987,61 $11.98348 $543.541.69 $13,857,606.92
215 03/0120/6 $523.33268 075 $8,65100 $11.54801 $543.54169 $13,334.274,24
216 04/01/2046 $524,09587 075 $8,33392 $11.11190 $543.54169 $12,810,178,37
217 05/012046 $524,86018 0.75 $8,00636 $10,87515 $543,54169 $12,285,31819
218 084N2048 $525.62560 0.75 $7.678.32 $10.23777 $543.54169 $11,759,692.59
219 07/012046 $526,392.14 075 $7.34981 $9.79974 $543.541.69 $11,233.30045
220 08/012046 $527,15980 075 $7.02081 $9.38108 $543.541.69 $10706,140.65
221 091012046 $527,928.57 0.75 $6,69134 $8.92178 $543.54169 $10,178,212.08
222 10/012046 $528,69847 076 $6,36138 $8,48184 $543,54169 $9,649,51361
223 11/012046 $529,46948 075 $6,030.95 $8.04126 $543.54169 $9,120,04413
224 12/012046 $530.241.62 076 $5,70003 $7,800.04 $543,541.69 $8.589,80251
225 01/012047 $531,01489 075 $5,36863 $7,16817 $543,541.69 $8.058.787,62
226 02/012047 $531.789.29 075 $5,036-74 $6.71566 $543,54169 $7.526,99833
227 03/0/2047 $532,56482 075 $4,70437 $6,27250 $543,541 fig $6,994,43351
228 04/072047 $533,34148 075 $4.371.52 $5,828.69 $543,54189 $6,461,09203
229 05/012047 $534,119.27 075 $4.038.18 $5.384.24 $543,54169 $5,926,972.76
230 06/012047 $534.898.19 0.75 $3.70436 KIM14 $54054169 $5,392,074,57
231 07/012047 $535,67824 075 $3,37005 $4,49340 $543,541.69 $4,856,396.33
232 0=1/2047 $536,45944 075 $3,035.25 S4,047.00 $543.541.69 $4,319,936.89
233 09/012047 $537,24178 075 $2,69996 $3.59995 $543.541.69 $3,782,69511
234 101012047 $538,02526 075 $2,36418 $3.152,25 $543.541.69 $3,244,669.85
235 11/012047 $538,809.88 0.75 $2.027,92 $2.70389 $543,54169 $2,705.85997
236 12/012047 $539,595.65 075 $1,89116 $2,25486 $543.541.69 $2.166.26432
237 01RI2048 $54038255 075 $1.35392 $1.80522 $543.54169 $1,625.88177
238 02/012048 $541,17061 0,75 $1,016,18 $1,35490 $543,54169 $1.084.71116
239 031012048 $541959.82 0.75 $67794 $90393 $543,541.W $542.75134
240 04/012048 $542,75134 075 $33922 $45229 $543,542.85 $000
Tob1s: $110,000,000.00 $8,764,288.60 $11.985,718.16 $130,450,006.76