Explanation
Background: The following is an ordinance to authorize the City Attorney to acquire fee simple title and lesser interests, contract for professional services, and to expend the monies for payment of acquisition costs in connection with the Lazelle Road Storage Tank Improvements Project.
Fiscal Impact: This legislation includes a transfer of funds from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund as a temporary measure until such time as the proceeds from a bond sale can be made available. It also includes an amendment to the 2009 Capital Improvements Budget to establish sufficient budget authority.
Emergency Justification: is requested to allow all land acquisition to begin immediately so that the City can meet current acquisition schedules.
Title
To authorize the City Attorney to acquire fee simple title and lesser interests, to contract for professional services, to authorize the appropriation and transfer of $17,150.00 from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund; and to authorize the expenditure of $17,150.00 from the Water Works Enlargement Voted Bonds Fund; to amend the 2009 Capital Improvement Budget for the Division of Power and Water (Water) for costs in connection with the Lazelle Road Storage Tank Improvements Project; and to declare an emergency. ($17,150.00)
Body
WHEREAS, the City of Columbus is engaged in the Lazelle Road Storage Tank Improvements Project; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund; and
WHEREAS, the City anticipates incurring certain Original Expenditures (as defined in Section 1.150-2(c) of the Treasury Regulations (the "Treasury Regulations") promulgated pursuant to the Internal Revenue Code of 1986, as amended) with respect to the construction of the Project described in this Ordinance (collectively, the "Project"); and
WHEREAS, it is necessary to authorize an amendment to the 2009 Capital Improvement Budget for the purpose of providing sufficient authority for the aforementioned project expenditure; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Utilities, Division of Power and Water, in that it is immediately necessary to authorize the City Attorney to acquire fee simple title and lesser interests in and to certain parcels of real estate and to contract for the aforesaid professional services necessary in connection with said project, to authorize the appropriation and transfer of funds from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund, 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 Attorney be, and hereby is, authorized to acquire fee simple title and lesser interests in and to certain parcels of real estate and to contract for the professional services necessary in connection with the Lazelle Road Storage Tank Improvements Project, Project No. 690424.
SECTION 2. That from the unappropriated monies in the Water System Reserve Fund, 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, 2009, the sum of $17,150.00, is hereby appropriated to the Division of Power and Water, Division 60-09, Object level One 10, Object level Three 5502, OCA 695056.
SECTION 3. That the City Auditor is hereby authorized and directed to transfer $17,150.00 from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund, Fund No. 606, into the appropriate project account as specified within Section 4 herein, at such time as deemed necessary by him, and to expend said funds, or so much thereof as may be necessary.
SECTION 4. That the appropriation and expenditure of $17,150.00 is hereby authorized for the Lazelle Road Storage Tank Improvements Project as follows: Division of Power and Water, Fund No. 606, Division 60-09, Water Works Enlargement Voted Bonds Fund, Project No. 690424, Object Level Three 6601, OCA Code 606424.
SECTION 5. That upon obtaining other funds for the purpose of funding water system capital improvement work, the City Auditor is hereby authorized to repay the Water System Reserve Fund the amount transferred under Section 3 above, and said funds are hereby deemed appropriated for such purpose.
SECTION 6. That the 2009 Capital Improvements Budget, Ordinance 0806-2009 is hereby amended as follows, to provide sufficient budget authority for the aforementioned project expenditure stated herein:
Project No. | Project Name | Current Authority | Revised Authority | (Change)
690424-100000 | Lazelle Road | $157,277 | $174,427 | (+$17,150)
SECTION 7. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this Ordinance.
SECTION 8. 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 9. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
SECTION 10. That the City intends that this Ordinance constitute an "official intent" for purposes of Section 1.150-2(e) of the Treasury Regulations, and that the City reasonably expects to reimburse itself for certain Original Expenditures incurred with respect to the Project from the proceeds of obligations to be issued by the City in a principal amount currently estimated to be $17,150.00 (the "Obligations").
The City intends to make a reimbursement allocation on its books for the Original Expenditures not later than eighteen months following the later to occur of the date of the Original Expenditure to be reimbursed or the date the Project for which such Original Expenditures were made is "placed in service" within the meaning of Treasury Regulations Section 1.150-2(c). Upon the issuance of the Obligations, the proceeds of such Obligations shall be used to reimburse the Water System Reserve Fund 603, which is the fund from which the advance for costs of the Project will be made.
SECTION 11. That for the reasons stated in the preamble hereto, 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 its passage if the Mayor neither approves nor vetoes the same.