Explanation
BACKGROUND: This ordinance establishes the 2016 Capital Improvement Budget (CIB). The budget presented herein represents a plan for the expenditure of monies in 2016 for a variety of capital improvement projects.
The new funding amount of the total CIB is $865.9 $867.6 million, but $614.6 $614.8 million of this amount, or 70.9% 71.0%, is supported by enterprise revenues and miscellaneous smaller revenues such as internal service fees and federal and state funding sources, not the set-aside of income taxes.
FISCAL IMPACT: Appropriation authority for new money is granted at the time debt is issued, not with this ordinance.
Title
To adopt a Capital Improvements Budget for the twelve months ending December 31, 2016 or until such a time as a new Capital Improvements Budget is adopted, establishing a project budget for capital improvements requiring legislative authorization in 2016, to repeal Ordinance No. 0557-2015, as amended, and to declare an emergency.
Body
WHEREAS, Chapter 333.01 of the Columbus City Code requires the annual submission of a Capital Improvements Budget to City Council for consideration and adoption; and
WHEREAS, the following sets forth capital projects proposed for the City of Columbus in 2016, the proposed source of funds for each project, and a maximum budget for the 12 months beginning January 1, 2016 and ending December 31, 2016, or until such time as a new capital improvements budget is adopted; and
WHEREAS, an emergency exists in the usual daily operations of the various city departments in that it is immediately necessary to budget capital projects and proposed funding by the adoption of a Capital Improvements Budget for the immediate preservation of the public health, peace, property, safety and welfare; Now, Therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That from the monies in each of the funds and subfunds, the source of which is identified for each project, there be and here...
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