City of Columbus - File #: 0419-2004

• File #: 0419-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/23/2004
• In control: Administration Committee
• On agenda: 3/29/2004
• Final action: 4/1/2004
• Title: To authorize the Public Service Director to remit payments for the Facilities Management Division to the Franklin County Board of Commissioners for the debt service associated with the lease of office space at the Municipal Court Building, to authorize the expenditure of $1,007,025.00 from the Special Income Tax Fund. ($1,007,025.00)

Date	Ver.	Action By	Action	Result
4/1/2004	1	CITY CLERK	Attest
3/31/2004	1	MAYOR	Signed
3/29/2004	1	Columbus City Council	Approved	Pass
3/29/2004	1	COUNCIL PRESIDENT	Signed
3/15/2004	1	Columbus City Council	Read for the First Time
3/2/2004	1	Auditor Reviewer	Contingent Within
3/2/2004	1	CITY AUDITOR	Reviewed and Approved
3/2/2004	1	Service Drafter	Sent for Approval
3/2/2004	1	CITY ATTORNEY	Reviewed and Approved
3/2/2004	1	SERVICE DIRECTOR	Sent to Clerk's Office for Council
2/27/2004	1	SERVICE DIRECTOR	Reviewed and Approved
2/27/2004	1	Finance Reviewer	Reviewed and Approved
2/27/2004	1	FINANCE DIRECTOR	Reviewed and Approved
2/27/2004	1	SERVICE DIRECTOR	Reviewed and Approved
2/24/2004	1	Service Drafter	Sent for Approval
2/23/2004	1	Service Drafter	Sent for Approval

Explanation

BACKGROUND: This ordinance authorizes the Public Service Director to remit the annual principal and interest payment to the Franklin County Board of Commissioners for the 2004 debt service cost associated with the lease of the Municipal Court Building, 325 South High Street. On November 21, 1975, the City of Columbus entered into a lease agreement (CT-05851) with the Franklin County Commissioners that provided for a debt service/lease payment for the Municipal Court Building. The agreement was authorized by Ordinance No. 1589-75 and provides office space for the Municipal Courts, the Municipal Court Clerk, and City Attorney Prosecutor's office. This year's payment will be the next to last. In 2005, the annual debt service cost will be $915,675.00.

Fiscal Impact: Funds for the annual principal and interest payment are budgeted in the Special Income Tax Fund. The total cost for the debt service in 2004 is $1,007,025.00; $870,000 debt principal and $137,025 for debt interest. The 2003 principal and interest payment was $1,087,850.00.

Title

To authorize the Public Service Director to remit payments for the Facilities Management Division to the Franklin County Board of Commissioners for the debt service associated with the lease of office space at the Municipal Court Building, to authorize the expenditure of $1,007,025.00 from the Special Income Tax Fund. ($1,007,025.00)

Body

WHEREAS, in 1975, the City of Columbus and the Franklin County Board of Commissioners entered into a long-term debt service lease agreement for office space at the Municipal Court Building, 325 South High Street, and

WHEREAS, an agreement, authorized by Ordinance No. 1589-75, calls for annual debt principal and interest payments by the City of Columbus to the Franklin County Board of Commissioners for the retirement of said debt; now, therefore:

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:

SECTION 1. That the Public Service Director i...