Reso 2021-3235 - Laserfiche WebLink

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WHEREAS, a remaining balance of $1,416,425,123.00 was reserved for the State of Florida to disburse to non -entitlement units of local government, such as the City of Sunny Isles Beach (the "City"); and WHEREAS, the Division of Emergency Management ("FDEM") has received these funds from the Treasury through the State of Florida in accordance with the provisions of ARPA; and WHEREAS, pursuant to the provisions of ARPA, FDEM is the state entity responsible for disbursing the funds to the City; and WHEREAS, it is in the best interest of the City to enter into a funding agreement with FDEM, substantially in the form attached hereto as Attachment "A", in order for the City to receive its allocation of Fiscal Recovery Funds in the amount of Ten Million Nine Hundred Twenty Thousand Six Hundred Thirteen Dollars ($10,920,613.00), subject to the terms and conditions contained therein ("Funding Agreement"). WHEREAS, in order to ensure accountability, the City will establish a separate Special Revenue Fund entitled American Rescue Plan Act of 2021 Fund, per the authorization of the City Commission provided herein; and WHEREAS, the City Commission finds that this Resolution is in the best interest and welfare of the residents of the City. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recital paragraphs are hereby ratified and confirmed as being true and the same are hereby made part of this Resolution. Section 2. Approval of Funding Agreement. The City Commission of the City of Sunny Isles Beach hereby approves the Funding Agreement with Florida Division of Emergency Management, substantially in the form attached hereto as Attachment "A" and incorporated herein by reference. Section 3. Creation of Special Revenue Fund. This City Commission hereby authorizes the Finance Director to create within the accounts of the City, a Special Revenue Fund entitled American Rescue Plan Act of 2021 Fund for receipt, expenditure and/or incurrence of obligations of and for the herein referenced funds. Section 4. Authorization of the City Manager. The City Manager is hereby authorized to do all things necessary to effectuate this Resolution, including execute the Funding Agreement, substantially in the form attached hereto, any amendments thereto, and all other necessary documents in furtherance thereof. R2021 Approve Funding Agmt w FDEM for ARP - Create Fund Page 2 of 3