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 Lazelle Road Storage Tank Improvements Project.
Fiscal Impact: This legislation includes a transfer of funds from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund as a temporary measure until such time as the proceeds from a bond sale can be made available. It also includes an amendment to the 2009 Capital Improvements Budget to establish sufficient budget authority.
Emergency Justification: is requested to allow all land acquisition to begin immediately so that the City can meet current acquisition schedules.
Title
To authorize the City Attorney to acquire fee simple title and lesser interests, to contract for professional services, to authorize the appropriation and transfer of $17,150.00 from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund; and to authorize the expenditure of $17,150.00 from the Water Works Enlargement Voted Bonds Fund; to amend the 2009 Capital Improvement Budget for the Division of Power and Water (Water) for costs in connection with the Lazelle Road Storage Tank Improvements Project; and to declare an emergency. ($17,150.00)
Body
WHEREAS, the City of Columbus is engaged in the Lazelle Road Storage Tank Improvements Project; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds from the Water System Reserve Fund to the Water Works Enlargement Voted Bonds Fund; and
WHEREAS, the City anticipates incurring certain Original Expenditures (as defined in Section 1.150-2(c) of the Treasury Regulations (the "Treasury Regulations") promulgated pursuant to the Internal Revenue Code of 1986, as amended) with respect to the construction of the Project described in this Ordin...
Click here for full text