Explanation
BACKGROUND: This legislation authorizes the City Auditor to allow the Division of Power and Water's (Power) capital bonds fund to reimburse the operating fund, for labor and equipment costs incurred in the installation of various street lighting projects from October 1, 2010 through August 31, 2011, in the amount of $178,593.76
EMERGENCY DESIGNATION: The Department of Public Utilities is requesting City Council to consider this legislation an emergency measure, so that there will be sufficient cash to pay operating expenses through the end of the year.
FISCAL IMPACT: A transfer of cash and an amendment to the 2011 Capital Improvements Budget is necessary to establish sufficient amounts in the proper codes for this reimbursement.
Title
To authorize the City Auditor to allow the Division of Power and Water's capital bond funds to reimburse the operating fund in the amount of $178,593.76 for labor and equipment costs incurred in the installation of various street lighting; and to declare an emergency. ($178,593.76)
Body
WHEREAS, it is necessary to reimburse the Division of Power and Water (Power) operating fund for labor and equipment incurred in the installation of various street lighting projects;
WHEREAS, the costs from the operating fund are reimbursed through the capital bonds funds; and
WHEREAS, it is necessary to transfer funds within the Voted Street Lighting and Distribution Bond Fund for purposes of providing sufficient cash for the aforementioned reimbursement; and
WHEREAS, it is necessary to authorize an amendment to the 2011 Capital Improvements Budget for purposes of providing sufficient expenditure authority for the aforementioned reimbursement; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds from the Voted Street Lighting and Distribution Bond Fund and the Electric Build America Bonds Fund to the Power Operating Fund; and
WHEREAS, an emergency exists in the us...
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