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File #: 1988-2019    Version: 1
Type: Ordinance Status: Passed
File created: 7/10/2019 In control: Finance Committee
On agenda: 7/22/2019 Final action: 7/25/2019
Title: To amend the 2019 Capital Improvements Budget to be in line with the proposed 2019 bond sale; and to declare an emergency.
Attachments: 1. 2019 CIB Master Amendment
Explanation

Background: This ordinance authorizes the amendment of the 2019 Capital Improvements Budget (CIB) for various city departments and divisions. This ordinance will align the needed authority by project with the funds to be issued in the proposed 2019 Bond Sale for each of these departments/divisions. Currently the proposed 2019 Bond Sale is scheduled to occur during the fall of 2019.

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 2019 CIB so that it will be in line with the needed funds issued through the proposed 2019 Bond Sale.

Title

To amend the 2019 Capital Improvements Budget to be in line with the proposed 2019 bond sale; and to declare an emergency.

Body

WHEREAS, it is necessary to align the 2019 Bond Sale Proceeds with the needed authority for each project involved; and

WHEREAS, the 2019 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 Department of Finance and Management 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 2019 CIB ordinance number 1326-2019, passed on June 3, 2019, be amended as follows:

See Attached File: 2019 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...

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