Explanation
BACKGROUND: This legislation authorizes the City Auditor to transfer a total of $500,000.00 within the Storm Sewer Bond Fund to allow sufficient funds to acquire the necessary easements, professional services and administrative costs for the following Capital Improvements Project:
610973: Idlewild Drive Storm Sewer - $500,000
EMERGENCY DESIGNATION: This ordinance is submitted as an emergency so as to allow the easements to be acquired as soon as possible to maintain project construction schedules.
FISCAL IMPACT: The project for which this legislation requests fund transfer currently has an insufficient balance to allow for the aforementioned expenditure. This transfer does not reflect any changes to the projects planned in the 2005 Capital Improvements Budget (CIB). The change is a temporary measure for the project that is being designed or constructed to maintain efficient cash flow within Stormwater CIB Funds will be made available for all approved projects as needed.
Title
To authorize the City Auditor to make an intra-subfund transfer of $500,000.00 within the Storm Sewer Bonds Fund; for the Division of Sewerage and Drainage; to provide the necessary capital project's funds for land acquisition services; and to declare an emergency. ($500,000.00)
Body
WHEREAS, it is required in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, to maintain, upgrade and expand its storm sewer collection system; and
WHEREAS, it is necessary to transfer funds within the Storm Sewer Bonds Fund for land acquisition services for this project; and
WHEREAS, this transfer does not adversely affect any project in the 2005 Capital Improvements Budget; and
WHEREAS, an emergency exists in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, in that it is immediately necessary to authorize the City Auditor to transfer funds within the Storm Sewer Bonds Fund, to execute the aforementioned capital project related transaction, in an emergency manner as to allow the easements to be acquired as soon as possible to maintain project construction schedules, all for the immediate preservation of the public health, peace, property and safety; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor is hereby authorized to transfer $500,000.00 within the Storm Sewer Bonds Fund, Fund 685, Division of Sewerage and Drainage, Division 60-15, as follows:
TRANSFER FROM: 610704 - Linden Ditch Areawide Storm
OCA Code 685704
TRANSFER TO: 610973 - Idlewild Drive Storm Sewer
OCA Code - 685973
Section 2. That the City Auditor is hereby authorized and directed to transfer any unencumbered balance in the project account to the unallocated balance within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies no longer required for said project; except that no transfer shall be made from a project account by monies from more than one source.
Section 3. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
Section 4. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.