Explanation
Background: This ordinance authorizes amending of the 2007 Capital Improvements Budget (CIB) for the Department of Public Utilities in the Division of Power & Water - Water, the Department of Public Utilities in the Division of Power & Water - Power, and the Division of Sewerage and Drainage - Sanitation. This will align the needed authority with the funds issued in the upcoming Bond Sales for each of these divisions.
Emergency action: This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Fiscal impact: This legislation will amend the authority in the 2007 CIB so that it will be in line with the needs of the funds issued through the upcoming Water, Power, and Sanitary Bond Sales.
Title
To authorize an amendment to the 2007 Capital Improvements Budget to be in line with the needs of the Department of Public Utilities; and declare an emergency.
Body
WHEREAS, it is necessary to align the upcoming Water, Power, and Sanitary Bond Sale Proceeds with the needed authority for each project involved; and
WHEREAS, the 2007 Capital Improvements Budget (CIB) is hereby amended to reflect the above mentioned authority needs,
WHEREAS, an emergency exists in the usual operation of the City in that it is immediately necessary to make said amendment to allow the financial transaction to be posted in the City's accounting system as soon as possible; now therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1: That the 2007 CIB be amended as follows:
DIVISION OF POWER & WATER - WATER, 60-09, FUND NUMBER 606
AUTHORITY
PROJECT PROJECT CURRENT AMENDED
NAME NUMBER CIB AMOUNT CIB AMOUNT
Geographical Info. System 452501 $0...
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