Explanation
BACKGROUND: Capital expenditures are required for the purchase of materials and services for the construction of various street lighting projects in order to obtain the Division of Electricity's objectives of Project 2020 and its mission statement to provide reliable street lighting. These materials and services will be obtained, as needed, in compliance with the provisions of Columbus City Codes, Chapter 329 and Title 39. This legislation also authorizes a transfer of $130,000.00 from the Special Income Tax Fund (SIT), and the subsequent transfer and appropriation from the SIT to the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund.
Emergency action is requested in order that the financial transactions may be completed and the materials and services obtained so as not to delay the installation of new street lighting projects.
FISCAL IMPACT: Funding from the Special Income Tax (SIT) fund is a temporary measure until the next bond sale occurs, at which point the SIT will be reimbursed.
Title
To authorize and direct the City Auditor to transfer $130,000.00 from the Special Income Tax Fund to the Voted Street Lighting and Electricity Distribution Improvements Fund: to authorize the appropriation of said funds; to authorize capital expenditures for the purchase of materials and services required for the construction of street lighting projects up to an amount not to exceed $130,000.00 from the Voted Electricity and Street Lighting Improvements Fund; and to declare an emergency. ($130,000.00)
Body
WHEREAS, the Division of Electricity requires various capital expenditures for the construction of street lighting projects; and
WHEREAS, said capital expenditures will be in accordance with Columbus City Codes, Chapter 329; and
WHEREAS, a transfer of funds from the Special Income Tax Fund is necessary to fund the capital expenditures for new street lighting; and
WHEREAS, the ...
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