City of Columbus - File #: 0318-2011

• File #: 0318-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/17/2011
• In control: Public Utilities Committee
• On agenda: 3/14/2011
• Final action: 3/17/2011
• Title: To authorize the Director of the Department of Public Utilities to direct the City Auditor to deposit surety funds in the amount of $530,000.00 into the State Treasury Asset Reserve of Ohio (Star Ohio) program required for the Columbus Upground Reservoirs - Reservoir Site No. 2 Project; to authorize the Director to make a payment in the amount of $780,016.65 to the Ohio Department of Natural Resources for a construction permit fee for said project; to authorize the appropriation and expenditure of $530,000.00 from the Water System Reserve Fund; to authorize a transfer and expenditure of $780,016.65 within the Water Build America Bonds Fund; to amend the 2011 Capital Improvements Budget; for the Division of Power and Water; and to declare an emergency. ($1,310,016.55)

Date	Ver.	Action By	Action	Result
3/17/2011	1	CITY CLERK	Attest
3/16/2011	1	MAYOR	Signed
3/14/2011	1	Columbus City Council	Approved	Pass
3/14/2011	1	COUNCIL PRESIDENT	Signed
3/2/2011	1	Utilities Drafter	Sent for Approval
3/2/2011	1	Auditor Reviewer	Reviewed and Approved
3/2/2011	1	CITY AUDITOR	Reviewed and Approved
3/2/2011	1	Utilities Drafter	Sent for Approval
3/2/2011	1	CITY ATTORNEY	Reviewed and Approved
3/2/2011	1	Utilities Drafter	Sent to Clerk's Office for Council
3/1/2011	1	Finance Reviewer	Reviewed and Approved
3/1/2011	1	FINANCE DIRECTOR	Reviewed and Approved
2/28/2011	1	EBOCO Reviewer	Reviewed and Disapproved
2/28/2011	1	Utilities Drafter	Sent for Approval
2/28/2011	1	Finance Reviewer	Reviewed and Approved
2/28/2011	1	Finance Reviewer	Reviewed and Approved
2/25/2011	1	Utilities Drafter	Sent for Approval
2/25/2011	1	CITY AUDITOR	Reviewed and Disapproved
2/25/2011	1	Utilities Drafter	Sent for Approval
2/24/2011	1	Finance Reviewer	Reviewed and Approved
2/24/2011	1	Finance Reviewer	Reviewed and Approved
2/24/2011	1	FINANCE DIRECTOR	Reviewed and Approved
2/23/2011	1	Finance Reviewer	Reviewed and Approved
2/22/2011	1	Utilities Drafter	Sent for Approval
2/22/2011	1	Utilities Reviewer	Sent for Approval
2/22/2011	1	UTILITIES DIRECTOR	Reviewed and Approved
2/22/2011	1	Utilities Drafter	Sent for Approval
2/18/2011	1	Utilities Reviewer	Reviewed and Approved
2/18/2011	1	Utilities Drafter	Sent for Approval
2/18/2011	1	Utilities Reviewer	Reviewed and Approved
2/18/2011	1	Utilities Drafter	Sent for Approval
2/18/2011	1	Utilities Reviewer	Reviewed and Approved
2/17/2011	1	Utilities Drafter	Sent for Approval

Explanation

BACKGROUND: The Department of Public Utilities, Division of Power and Water will be constructing an Upground Reservoir off the Scioto River north of the O'Shaughnessy Dam. This reservoir will produce an additional 40 million gallons per day safe yield as recommended in the Water Beyond 2000 Phase II Report.

Prior to building the reservoir, an Ohio Department of Natural Resources (ODNR) construction permit must be obtained. Prior to obtaining the permit, a surety bond must be submitted and accepted by the state. The Division of Power and Water will deposit the surety funds into the State of Ohio's State Treasury Asset Reserve of Ohio (Star Ohio) program. Star Ohio allows all Ohio governmental subdivisions to deposit their funds for investment purposes into a highly rated public investment pool offering safety, liquidity, and generally higher yields.

Formal bids for the Columbus Upground Reservoirs - Reservoir Site No. 2 Project, Project No. 690370, were opened on January 26, 2011. The total amount of this legislation is $1,310,016.65. Of this amount, $780,016.65 is for the construction permit fee that will be paid directly to ODNR. The surety bond required for the construction period from initiation of construction through construction inspection approval (by ODNR), is in the amount of $530,000.00, to be deposited into the Star Ohio account. This amount must remain deposited in the Star Ohio account through ODNR's final acceptance, projected between 2014 and 2016.

MULTI-PHASE DESIGNATION: Additional legislation for surety bond funds will be required by ODNR in the future, after construction of Upground Reservoir - Part I has been completed and after ODNR's construction inspection approval. It is anticipated that these additional funds will be $500,000.00 and will cover the period between ODNR's construction inspection approval and their final acceptance (btwn. 2014 -2016).

EMERGENCY DESIGNATION: It is requested that this Ordin...