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File #: 2102-2018    Version: 1
Type: Ordinance Status: Passed
File created: 7/12/2018 In control: Finance Committee
On agenda: 7/23/2018 Final action: 7/25/2018
Title: To amend the 2018 Capital Improvements Budget to be in line with the proposed 2018 bond sale; and declare an emergency.
Attachments: 1. 2018 CIB Master Amendment
Explanation

Background: This ordinance authorizes the amendment of the 2018 Capital Improvements Budget (CIB) for the various city departments and divisions. This ordinance will align the needed authority by project with the funds to be issued in the proposed 2018 Bond Sale for each of these departments/divisions. Currently the proposed 2018 Bond Sale is scheduled to occur during the fall of 2018.

Emergency action: This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.

Fiscal impact: This legislation will amend the authority in the 2018 CIB so that it will be in line with the needed funds issued through the proposed 2018 Bond Sale.

Title

To amend the 2018 Capital Improvements Budget to be in line with the proposed 2018 bond sale; and declare an emergency.

Body

WHEREAS, it is necessary to align the 2018 Bond Sale Proceeds with the needed authority for each project involved; and

WHEREAS, the 2018 Capital Improvements Budget (CIB) is hereby amended to reflect the above mentioned authority needs; and

WHEREAS, an emergency exists in the usual operation of the City in that it is immediately necessary to make said amendment to allow the financial transaction to be posted in the City's accounting system as soon as possible thereby preserving the public health, peace, property, safety and welfare; now, therefore

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:

SECTION 1: That the 2018 CIB ordinance number 1010-2018, passed on April 23, 2018, be amended as follows:

See Attached File: 2018 CIB Master Amendment.xls.

SECTION 2: That the Director of Finance and Management or designee is authorized to make any amendments to the Capital Improvement Budget within each project category and subproject as deemed necessary.

SECTION 3: That for the reasons stated in the pr...

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