Explanation
The Public Utilities Department, Sewerage and Drainage Division, will perform storm sewer work in the Cassady Avenue area in 2004. The Public Service Department, Transportation Division, is also planning a resurfacing project in this area. In an effort to provide a consistent and seamless paved surface, save the City time and money, and avoid placing an unnecessary burden on area residents due to two divisions and possibly two different contractors being involved, it is in the City's best interest to combine the storm sewer and resurfacing work into a single project administered by the Sewerage and Drainage Division.
This legislation appropriates $202,000.00 in Transportation Division funding for the Sewerage and Drainage Division to expend for resurfacing and pavement renovation work in the Cassady Avenue are. The $202,000.00 is the approximate cost for a contractor to mobilize and complete the resurfacing and related pavement renovation work on the following streets: Avalon Place (Cassady Avenue - Columbia Avenue), Columbia Avenue (Margaret Street - Avalon Place), Dawson Avenue (Fifth Avenue - Avalon Place), Dawson Avenue (Fifth Avenue - Sixth Avenue), Drexel Avenue (Fifth Avenue - Seventh Avenue), Drexel Avenue (Margaret Street - Avalon Place), Margaret Street (Cassady Avenue - western terminus), Northview Avenue (Fifth Avenue - Avalon Place), Northview Avenue (Fifth Avenue - Seventh Avenue), Parkview Boulevard (south terminus - Margaret Street), Seventh Avenue (Drexel Avenue - Northview Avenue), and Sixth Avenue (Dawson Avenue - Cassady Avenue.
This ordinance appropriates $202,000.00 within the Special Income Tax Fund and transfers this money to the 1995, 1999 Voted Streets and Highways Fund where it is appropriated and authorized for expenditure. This Special Income Tax Fund certification is a temporary measure until the City sells notes or bonds to fund this capital improvement and is necessary because the Transportation Division has exhausted all cash in its Voted Fund.
Title
To appropriate $202,000.00 within the Special Income Tax Fund; to transfer this sum to the 1995, 1999 Voted Streets and Highways Fund and appropriate it there so the Sewerage and Drainage Division can expend the money to resurface and complete pavement renovation work within the Cassady Avenue storm sewer project area. ($202,000.00)
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WHEREAS, the Sewerage and Drainage Division intends to let a project that includes installing storm sewers along with resurfacing and pavement renovation work contained within the Cassady Avenue project area; and
WHEREAS, this work will be performed in order to provide a seamless paved surface for the motoring public; and
WHEREAS, this saves the City time and money by having one division administer this project, alleviating an unnecessary burden on the residents located in the project area; and
WHEREAS, the Transportation Division has agreed to make its funding available to the Sewerage and Drainage Division for the construction costs of the resurfacing and pavement renovation work; and
WHEREAS, the City will sell notes or bonds for the aforementioned project and will reimburse the Special Income Tax Fund, this transfer should be considered as a temporary funding method; and
WHEREAS, the aggregate principal amount of obligations which the City will issue to finance the project is presently expected not to exceed $202,000.00; and
WHEREAS, it is immediately necessary to both appropriate said funds from the Special Income Tax Fund and transfer said funds into the 1995, 1999 Voted Streets and Highways Fund; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the sum of $202,000.00 be and hereby is appropriated from the unappropriated balance of the Special Income Tax Fund, Fund 430, and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2004, to the City Auditor, Department No. 22-01, Object Level One Code 10, Object Level Three Code 5502 and OCA Code 902023.
SECTION 2. That the City Auditor is hereby authorized to transfer said funds to the 1995, 1999 Voted Streets and Highways Fund at such time as is deemed necessary by the City Auditor and to expend said funds, or so much thereof as may be necessary.
SECTION 3. That the amount of $202,000.00 be and hereby is appropriated to the 1995, 1999 Voted Streets and Highways Fund, Fund 704, for the Transportation Division, Department No. 59-09, Object Level One Code 06, Object Level Three Code 6631 and Project 530282.
SECTION 4. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
SECTION 5. That upon obtaining other funds for the resurfacing and pavement renovation work within the Cassady Avenue storm sewer project area, the City Auditor is hereby authorized to repay the Special Income Tax Fund the amount transferred under Section 3 above, and said funds are hereby deemed appropriated for such purpose.
SECTION 6. That the City Auditor is authorized to make any accounting changes to revise the funding source for any contract or contract modification associated with expenditure of the funds transferred in Section 3, above.
SECTION 7. That the City intends that this ordinance constitute an "official intent" for purposes of Section 1.150-2(e) of the Treasury Regulations promulgated pursuant to the Internal Revenue Code of 1986, as amended.
SECTION 8. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.