City of Columbus - File #: 1983-2003

• File #: 1983-2003
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 8/14/2003
• In control: Utilities Committee
• On agenda: 9/22/2003
• Final action: 9/24/2003
• Title: To authorize the City Auditor to create and maintain a Storm Sewer System Reserve Fund from the proceeds of the stormwater fee, and to authorize an initial transfer not to exceed $10,000,000 to said fund and to declare an emergency. ($10,000,000)

Date	Ver.	Action By	Action	Result
9/24/2003	2	CITY CLERK	Attest
9/23/2003	2	MAYOR	Signed
9/22/2003	1	Columbus City Council	Amended to Emergency	Pass
9/22/2003	1	Columbus City Council	Approved as Amended	Pass
9/22/2003	2	Columbus City Council	Amended	Pass
9/22/2003	2	COUNCIL PRESIDENT	Signed
9/15/2003	1	Columbus City Council	Read for the First Time
9/2/2003	1	Utilities Drafter	Sent for Approval
8/28/2003	1	UTILITIES DIRECTOR	Reviewed and Approved
8/28/2003	1	FINANCE DIRECTOR	Reviewed and Approved
8/26/2003	1	CITY AUDITOR	Reviewed and Approved
8/25/2003	1	Auditor Reviewer	Reviewed and Approved
8/22/2003	1	UTILITIES DIRECTOR	Reviewed and Approved
8/21/2003	1	UTILITIES DIRECTOR	Reviewed and Approved
8/21/2003	1	UTILITIES DIRECTOR	Reviewed and Approved
8/21/2003	1	Auditor Reviewer	Reviewed and Approved
8/21/2003	1	CITY AUDITOR	Reviewed and Disapproved
8/19/2003	1	UTILITIES DIRECTOR	Reviewed and Approved
8/14/2003	1	Utilities Drafter	Sent for Approval

Explanation

The purpose of this ordinance is to create a Storm Sewer System Reserve Fund from the proceeds of the stormwater fee.  Based on projections in the mid-year financial review, it has been determined that the Storm Sewer Operating Fund contains sufficient revenues such that $10,000,000 can be diverted for the purpose of creating the aforesaid fund.

The Storm Sewer System Reserve Fund will be maintained in the custody of the City.  Monies held in the Storm Sewer System Reserve Fund may be transferred to the appropriate fund of the City to permit the payment of principal of and interest on bonds or notes issued by the City to pay costs of improvements to the Storm Sewer System, or may be transferred to the Storm Sewer System Operating Fund and otherwise may be used for any lawful purpose for the System. Transfers of monies may also be made from the Storm Sewer System Operating Fund to the Storm Sewer System Reserve Fund after providing for the payment of operating costs of the System.

Title

To authorize the City Auditor to create and maintain a Storm Sewer System Reserve Fund from the proceeds of the stormwater fee, and to authorize an initial transfer not to exceed $10,000,000 to said fund and to declare an emergency.  ($10,000,000)

Body

Whereas,  it has been determined that there is a need for a Storm Sewer System Reserve Fund; and

Whereas,  sufficient revenues are projected to be generated by the stormwater fee to accommodate creation of this fund; and

Whereas,  the Storm Sewer System Reserve Fund will be maintained in the custody of the City; and

Whereas,  monies held in the Storm Sewer System Reserve Fund may be transferred to the appropriate fund of the City to permit the payment of principal of and interest on bonds or notes issued by the City to pay costs of improvements to the Storm Sewer System, or may be transferred to the Storm Sewer System Operating Fund and otherwise may be used for any lawful purpose for the System; and

Whereas,  transfers of monies may also be made from the Storm Sewer System Operating Fund to the Storm Sewer System Reserve Fund after providing for the payment of operating costs of the System; and  now therefore

WHEREAS, an emergency exists in the usual daily  operation of the Department of  Utilities in that it is immediately necessary to pass this ordinance as an emergency measure because of the need to ensure that the storm water office has a funding mechanism in place during the construction season to continue their important storm water relief  projects for the preservation of the public health,  peace, property, safety, and welfare; now therefore

BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBUS:

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:

SECTION 1.  That the City Auditor be and is hereby authorized to create a Storm Sewer System Reserve Fund.

SECTION 2.  That funds are hereby deemed appropriated to carry out the purpose of this ordinance.

SECTION 3.  That the City Auditor is hereby authorized to transfer an amount not to exceed $10,000,000 from the Storm Sewer System Operating Fund, Fund No. 675 to the Storm Sewer System Reserve Fund.

SECTION 4.  That the City Auditor is authorized to transfer monies between the two aforementioned funds as needed.

SECTION 5.  That this ordinance shall take effect and be in force from and after the earliest period allowed by law.

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 measusre 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.