Explanation
BACKGROUND: This legislation authorizes a transfer, CIB amendment and expenditure of $50,000.00 from the Storm Sewer Bonds Fund to provide funds to enter into an agreement with the Columbus Downtown Development Corporation (CDDC) for the Main Street Dam Removal Feasibility Study.
FISCAL IMPACT: A transfer of $50,000.00 within the Storm Sewer Bonds Fund and a CIB amendment is required for this expenditure due to insufficient balances in the project accounts.
Title
To authorize the Public Utilities Director to enter into an agreement with the Columbus Downtown Development Corporation (CDDC) for the Main Street Dam Removal Feasibility Study; to authorize the transfer of $50,000.00 within the Storm Sewer Bonds Fund; to authorize an amendment to the 2011 Capital Improvements Budget; and to authorize the expenditure of $50,000.00 from the Storm Sewer Bonds Fund.($50,000.00)
Body
WHEREAS, it is necessary to authorize the Public Utilities Director to enter into an agreement with the Columbus Downtown Development Corporation for the Main Street Dam Removal Feasibility Study; and
WHEREAS, it is necessary to authorize the City Auditor to transfer funds within the Storm Sewer Bonds Fund;
WHEREAS, it is necessary to authorize an amendment to the 2011 Capital Improvements Budget to provide sufficient funding and expenditure authority for the feasibility study; and
WHEREAS, under this agreement the Columbus Downtown Development Corporation will implement and oversee a feasibility study for the removal of the Main Street Dam; and
WHEREAS, it has become necessary in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, to authorize the expenditure for the Main Street Dam Removal Feasibility Study, thereby preserving the public health, peace, property and safety; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized to transfer $5...
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