Explanation
Background: The following is an ordinance to authorize the City Attorney to acquire fee simple title and lesser interests, contract for professional services, and to expend the monies for payment of acquisition costs in connection with the FRA Olentangy Trail Bridge Project (State Job 465874).
Fiscal Impact: The transfer of $50,000.00 from the Special Income Tax Fund to the Voted 1995 and 1999 Parks and Recreation Bond Fund is
a temporary measure until the City sells notes or bonds to fund these improvements. $50,000.00 is budgeted in the Voted 1995 and 1999 Parks and Recreation Bond Fund to meet the financial obligation of this project.
Emergency Justification: Emergency action is requested to allow acquisition activities to begin as soon as possible thereby allowing for commencement of construction of this project within this years construction season.
Title
To authorize the appropriation and transfer of $50,000.00 from the Special Income Tax Fund to the Voted 1995 and 1999 Parks and Recreation Bond Fund and to authorize the City Attorney to acquire fee simple title and lesser interests, contract for professional services, and to expend $50,000.00 from the Voted 1995/1995 Recreation and Parks Bond Fund for costs in connection with the FRA Olentangy Trail Bridge Project (State Job 465874), and to declare an emergency. ($50,000.00).
Body
WHEREAS, the City of Columbus is engaged in the FRA Olentangy Trail Bridge Project (State Job 465874); and
WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund, and this transfer should be considered as a temporary funding method; and
WHEREAS, the aggregate principal amount of obligations which the City will issue to finance this project is presently expected not to exceed $50,000; and
WHEREAS, an emergency exists in the usual daily operation of the Recreation and Parks Department, in that it is im...
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