City of Columbus - File #: 0924-2004

• File #: 0924-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/11/2004
• In control: Utilities Committee
• On agenda: 6/21/2004
• Final action: 6/23/2004
• Title: To authorize the City Auditor to transfer $378,667.72 from the Special Income Tax Fund to the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund; to authorize the appropriation of said funds; to authorize the reimbursement to the Division of Electricity for costs incurred for Streetlight Inspection/Betterments; to authorize the expenditure of $378,667.72; and to declare an emergency. ($378,667.72)

Date	Ver.	Action By	Action	Result
6/23/2004	1	CITY CLERK	Attest
6/22/2004	1	MAYOR	Signed
6/21/2004	1	Columbus City Council	Approved	Pass
6/21/2004	1	Columbus City Council	Taken from the Table	Pass
6/21/2004	1	COUNCIL PRESIDENT	Signed
6/14/2004	1	Columbus City Council	Tabled to Certain Date	Pass
6/3/2004	1	CITY AUDITOR	Reviewed and Approved
6/3/2004	1	Utilities Drafter	Sent for Approval
6/3/2004	1	CITY ATTORNEY	Reviewed and Approved
6/3/2004	1	Utilities Drafter	Sent to Clerk's Office for Council
6/2/2004	1	Utilities Drafter	Sent for Approval
6/2/2004	1	Auditor Reviewer	Contingent Within
6/1/2004	1	FINANCE DIRECTOR	Reviewed and Approved
5/27/2004	1	Finance Reviewer	Reviewed and Approved
5/26/2004	1	UTILITIES DIRECTOR	Reviewed and Approved
5/26/2004	1	Utilities Drafter	Sent for Approval
5/25/2004	1	Utilities Drafter	Sent for Approval
5/25/2004	1	Utilities Reviewer	Reviewed and Approved
5/25/2004	1	Utilities Drafter	Sent for Approval
5/25/2004	1	UTILITIES DIRECTOR	Reviewed and Approved
5/24/2004	1	Utilities Reviewer	Reviewed and Approved
5/12/2004	1	Utilities Drafter	Sent for Approval
5/11/2004	1	Utilities Drafter	Sent for Approval
5/11/2004	1	Utilities Drafter	Sent for Approval

Explanation

BACKGROUND: The purpose of this legislation is to authorize the appropriation and transfer of $378,667.72 from the Special Income Tax Fund, Fund No. 430, to the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund No. 553, and to authorize the reimbursement to the Division of Electricity for material, labor and equipment costs incurred for Streetlight Inspection/Betterments. All street lights with underground wiring were spot checked and inspected for proper bonding and grounding. In addition, to date 25% of the same underground street lights have been upgraded. Upgrades and betterments of all underground street lights are expected to be completed within the next three to four years.

Emergency action is requested in order that this financial transaction may be processed as soon as possible so that funds may be available to the Division of Electricity for its daily operations.

FISCAL IMPACT: This method of funding is a temporary measure until the City sells notes or bonds to fund this capital improvement project.

Title


To authorize the City Auditor to transfer $378,667.72 from the Special Income Tax Fund to the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund; to authorize the appropriation of said funds; to authorize the reimbursement to the Division of Electricity for costs incurred for Streetlight Inspection/Betterments; to authorize the expenditure of $378,667.72; and to declare an emergency. ($378,667.72)



Body

WHEREAS, it is necessary to reimburse the Division of Electricity for costs incurred for material, labor and equipment required for Streetlight Inspection/Betterments; and

WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund, this transfer should be considered as a temporary funding method; and

WHEREAS, the aggregate principal amount of obligation which the City will issue to fi...