Explanation
NEED: This legislation authorizes the transfer of monies within the Storm Sewer Bonds Fund, $85,000.00; and to amend the 2003 Capital Improvements Budget in order to settle the claims of Ralph E. Hazelbaker and Billie E. Hazelbaker in the case of Ralph E. Hazelbaker, et al. v. James P Joyce, et al., United States District Court, Southern District of Ohio, Case No. C2-97-518.
EMERGENCY DESIGNATION: This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
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 project planned in the 2003 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 the Stormwater CIB. Funds will be made available for all approved projects as needed.
TRANSFER FROM:
610723 East Street Sewer Replacement $85,000.00
TRANSFER TO:
610807 Sharon Hills $85,000.00
Current 2003 Capital Improvements Budget Authority
610824 Dry Run Flood Routing at Valleyview $100,000.00
610807 Sharon Hills $0.00
Revised 2003 Capital Improvements Budget Authority
610824 Dry Run Flood Routing at Valleyview $15,000.00
610807 Sharon Hills $85,000.00
Title
To authorize the City Auditor to make an intra-subfund transfer of monies within the Storm Sewer Bonds Fund, pursuant to providing the necessary capital project funds to settle the claims of Ralph E. Hazelbaker and Billie E. Hazelbaker in the case of Ralph E. Hazelbaker, et al. v. James P Joyce, et al., United States District Court, Southern District of Ohio, Case No. C2-97-518 in the amount of $85,000.00; to amend the Capital Improvements Budget to accommodate this transaction for the Division of Sewerage and Drainage; and to declare an emergency. ($85,000.00)
Body
WHEREAS, Ralph E. Hazelbaker, et al. were able to negotiate a settlement in the total amount of $85,000.00; and
WHEREAS, this transfer does not adversely affect any project in the 2003 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 transfer funds within the Storm Sewer Bonds Fund to execute the aforementioned capital project related transaction, for the 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 and directed to transfer monies within the Storm Sewer Bonds Fund, Fund 685, Division of Sewerage and Drainage, Division 60-15 as follows:
TRANSFER FROM:
610723 East Street Sewer Replacement $85,000.00
TRANSFER TO:
610807 Sharon Hills $85,000.00
Section 2. That the City Auditor is hereby authorized and directed to transfer any unencumbered balance in the project account to the unallocated balance account 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 so made from a project account by monies from more than one source.
Section 3. That the 2003 Capital Improvements Budget is hereby amended as follows, in order to establish sufficient funding authority:
Current 2003 Capital Improvements Budget Authority
610824 Dry Run Flood Routing at Valleyview $100,000.00
610807 Sharon Hills $0.00
Revised 2003 Capital Improvements Budget Authority
610824 Dry Run Flood Routing at Valleyview $15,000.00
610807 Sharon Hills $85,000.00
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.