Explanation
1. BACKGROUND: The Department of Public Utilities, Division of Power, intends to enter into a Guaranteed Maximum Reimbursement Agreement with the Franklin County Engineer’s Office to construct a new overhead street lighting system on Steelwood Road, between Kenny Road and approximately 113 feet west of Kenny Road. The Franklin County Engineer’s Office will be financially responsible for the design, construction, and inspection of said system, up to a maximum amount of $58,512.50.
Improvements will be made at City cost and then reimbursed by the Franklin County Engineer’s Office. The Franklin County Engineer’s Office passed Resolution No. 0876-17, on December 12th 2017, whereby the County agreed to reimburse the City for this project.
2. FISCAL IMPACT: The Franklin County Engineer’s Office will provide reimbursement to the Department Public Utilities, Division of Power for 100% of the County’s share of the costs associated with the construction of the improvements described herein, up to a maximum amount of $58,512.50. Once the reimbursement is received the funds will be deposited into the Power Permanent Improvements Fund (Fund 6008).
Title
To authorize the Director of Public Utilities to enter into a Guaranteed Maximum Reimbursement Agreement with the Franklin County Engineer’s Office to construct a new overhead street lighting system on Steelwood Road; and to authorize a deposit up to $58,512.50 within the Power Permanent Improvements Fund.
Body
WHEREAS, the Director of Public Utilities intends to enter into a Guaranteed Maximum Reimbursement Agreement with the Franklin County Engineer’s Office to construct a new overhead street lighting system on Steelwood Road; and
WHEREAS, the Franklin County Engineer’s Office will reimburse the City for all design, construction, and inspection costs relating to the project, up to a maximum amount of $58,512.50; and
WHEREAS, it is necessary to authorize the deposit of the proceeds from the Fr...
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