Explanation
BACKGROUND: This legislation authorizes an amendment to the 2005 CIB, the transfer of funds within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund, and the reimbursement to the Division of Power and Water for labor and equipment costs incurred in the installation of various street lighting projects from January 17, 2006 through May 23, 2006.
Emergency action is requested in order that financial transactions may be completed and the Division of Power and Water reimbursed in a timely manner.
FISCAL IMPACT: The Division is requesting an amendment to the 2005 Capital Improvements Budget for purposes of establishing sufficient budget authority for this expenditure. In addition, this legislation includes a transfer of funds within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund.
Title
To amend the 2005 Capital Improvements Budget; to authorize the transfer of $4,073.03 within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund; and to authorize the reimbursement to the Division of Power and Water for labor and equipment costs incurred in the installation of various street lighting projects; to authorize the expenditure up to an amount not to exceed $72,826.28; and to declare an emergency. ($72,826.28)
Body
WHEREAS, the Division of Power and Water has incurred costs for labor and equipment necessary for the installation of various street lighting projects from its operating fund; and
WHEREAS, it is necessary to reimburse the Division of Power and Water for costs incurred in the construction of various street lighting projects; and
WHEREAS, it is necessary to transfer funds and budget authority within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund to provide funding in the appropriate projects for the reimbursement to the Division of Power and Water; and
WHEREAS, it is...
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