Explanation
BACKGROUND: This legislation authorizes the transfer of funds from the Special Income Tax (SIT), and authorizes the Director of Public Utilities to reimburse the Franklin County Engineer for the City of Columbus' share of electric work for the Morse Road and Wilson Road projects. The City of Columbus has partnered with the Franklin Engineer on several significant roadway improvement projects in recent years. In these cases, the County Engineer has been the lead agency in executing the roadway improvements, with the City agreeing to participate in the cost of the projects through consent legislation passed earlier.
The County paid for the installation of street lights on Wilson Road from I-70 west to Trabue Road and on Morse Road from Trindle Way to Cleveland Avenue, under separate Franklin County Roadway Improvements projects. Both Wilson Road and Morse Road run in and out of the City of Columbus Corporation Limits. Therefore, the Transportation Division agreed to pay for street lights installed within the city limits and the Division of Electricity agreed to pay for the street lights installed outside the city limits. The Franklin County Engineer has invoiced the Division of Electricity in the amount of $142,261.37 for the Wilson Road street lights and $229,035.31 for the Morse Road street lights. An additional $6,000 is requested for the Morse Road project to pay for safety upgrades the Division of Electricity required the Contractor to make.
FISCAL IMPACT: Funding from the Special Income Tax (SIT) fund is a temporary measure until the next bond sale occurs, at which point the SIT will be reimbursed.
Emergency action is requested in order that the financial transactions may be completed and Franklin County Engineer paid in a timely manner.
Title
To authorize and direct the City Auditor to transfer $377,296.68 from the Special Income Tax Fund to the Voted Street Lighting and Electricity Distribution Improvements Fund; to authorize the appropriation of said funds; to authorize Director of Public Utilities to reimburse the Franklin County Engineer for street lights installed on Wilson and Morse Roads; to authorize the expenditure of $377,296.68 from the Voted Street Lighting and Electricity Distribution Improvements Fund; and to declare an emergency. ($377,296.68)
Body
WHEREAS, Franklin County paid for the installation of street lights on Wilson Road from I-70 west to Trabue Road and Morse Road from Trindle Way to Cleveland Avenue, under separate Franklin County Roadway Improvements projects; and
WHEREAS, it is necessary to reimburse the Franklin County Engineer for the Division of Electricity's share in the cost of said street lights installed outside the City of Columbus corporation limits; and
WHEREAS, a transfer of funds from the Special Income Tax Fund is necessary to fund this reimbursement; and
WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund; and
WHEREAS, the aggregate principal amount of obligations which the City will issue to finance this purchase is presently expected not to exceed $377,296.68; and
WHEREAS, emergency action is necessary in order that financial transaction may be completed and the Franklin County Engineer may be paid in a timely manner; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Utilities, Division of Electricity, in that it is immediately necessary to reimburse the Franklin County Engineer for street lights installed on Wilson and Morse Roads outside the City of Columbus corporation limits for the immediate preservation of the public health, peace, property, safety and welfare; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the sum of $377,296.68 be and is hereby 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 22-01, Object Level One 10, OCA Code 902023, Object Level Three 5502.
SECTION 2. That the City Auditor is hereby authorized to transfer said funds to the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund 553 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 $377,296.68 is hereby transferred and appropriated to the Division of Electricity 60-07, Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund 553, as follows:
Wilson Road Street Lighting - County, Project 675350, OCA Code 675350, Object Level Three 6625, $142,261.37
Morse Road Street Lighting - County, Project 675380, OCA Code 675380, Object Level Three 6625, $235,035.31
SECTION 4. That the Director of Public Utilities is hereby authorized to reimburse the Franklin County Engineer for the cost of street lighting on Wilson Road from I-70 west to Trabue Road and Morse Road from Trindle Way to Cleveland Avenue installed outside the City of Columbus Corporation Limits, in the amount of $377,296.68, for the Division of Electricity.
SECTION 5. That to pay the cost of the aforesaid reimbursement, the expenditure of $377,296.68, or so much thereof as may be needed, be and is hereby authorized from the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund 553, Division No. 60-07, as follows:
Wilson Road SL County Project 675350, OCA 675350, Object Level Three 6625, $142,261.37
Morse Road SL County Project 675380, OCA 675380, Object Level Three 6625, $235,035.31
SECTION 6. That upon obtaining other funds for Wilson Road and Morse Road Street Lighting Projects, the City Auditor is hereby authorized and directed to repay the Special Income Tax Fund the amount transferred under Section 2, above, and said funds are hereby deemed appropriated for such purpose.
SECTION 7. That the City Auditor is authorized to establish proper accounting project numbers, and to make any accounting changes to revise the funding source for any contract or contract modification associated with the expenditure of funds transferred in Section 2, above.
SECTION 8. 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 9. 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.