Explanation
BACKGROUND: This legislation authorizes the transfer of funds within the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvement Fund and the reimbursement to the Division of Electricity for labor and equipment costs incurred in the installation of various street lighting projects from October 31, 2002 through May 7, 2003. This legislation also amends the 2002 Capital Improvements Budget.
Emergency action is requested in order that the transaction may be processed immediately.
FISCAL IMPACT: There is adequate funding in the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvement Fund for this reimbursement, however, a transfer between projects within the fund is necessary to provide funding in the appropriate projects.
Title
To amend the 2002 Capital Improvements Budget, to authorize the transfer of $29,029.38 between projects within the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvements Fund; to authorize the reimbursement to the Division of Electricity for labor and equipment costs incurred in the installation of various street lighting projects; to authorize the expenditure up to an amount not to exceed $158,759.47 from the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvement Fund; and to declare an emergency. ($158,759.47)
Body
WHEREAS, the Division of Electricity has incurred costs for labor and equipment necessary for the installation of various street lighting projects from its operating fund; and
WHEREAS, it is necessary to reimburse the Division of Electricity for costs incurred in the construction of various street lighting projects; and
WHEREAS, it is necessary to transfer funds and budget authority within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund to provide funding for the reimbursement to the Division of Electricity; and
WHEREAS, it is necessary ...
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