Explanation
Background: The City has determined it necessary to acquire easements in and to two separate properties, both owned by the Franklin County Board of Commissioners ("County"). One easement will run under Cooper Stadium and will hold a storm water sewer line. The second easement will be a temporary easement necessary to the construction of a sanitary sewer line in the Jackson Pike vicinity. The County has agreed to convey the necessary easements to the City. In consideration of the granting of the two easements the County will receive at total of $120,000.00 and other valuable consideration from the City. The following legislation accepts the two easements from the County and authorizes the expenditure of $120,000.00 in consideration of their granting.
Fiscal Impact: This ordinance authorizes the expenditure of $80,000.00 from within the Sanitary Sewer Revenue Bonds Fund upon passage of this ordinance. It also authorizes the transfer and appropriation of $40,000.00 from the Storm Sewer Reserve Fund and a transfer within the Storm Sewer Bond Fund for this expenditure. Monies for the Storm expenditures will be provided from an upcoming Bond Sale via the transfer detailed in this ordinance.
Emergency Justification: Emergency action is required to obtain easement before the scheduled conveyance of the Cooper Stadium property to a third party.
Title
To authorize the purchase of two easements from the Board of Commissioners for Division of Sewerage and Drainage of Franklin County; to authorize the expenditure of $80,000.00 from the Sanitary Sewer Revenue Bonds Fund; to authorize the transfer and appropriation of $40,000.00 from the Storm Sewer Reserve Fund; to authorize the expenditure of $40,000.00 from the Voted Storm Sewer Bonds fund for the Division of Sewerage and Drainage; and to declare an emergency. ($120,000.00)
Body
WHEREAS, the City has determined it necessary to acquire easements for two separate properties, bot...
Click here for full text