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HomeMy WebLinkAbout008-96 Ordinance ---.<'---,--"~ ,~~~.~"~ I RECORD OF ORDINANCES Dayton Legal Blank Co. Form No. 30043 08-96 Passedn_m_m_ n_mnun_m_mm_ unnmn19_u__._ Ordinance NO.nnn_n _m_m__u_ AN ORDINANCE AMENDING THE ANNUAL APPROPRIATIONS ORDINANCE FOR THE FISCAL YEAR ENDING DECEMBER 31, 1996 AND DECLARING AN EMERGENCY. - WHEREAS, the Ohio Revised Code requires, when necessary, amendments to the annual appropriations ordinance to be made in order that appropriations are not over '4 expended, and WHEREAS, at the beginning of each year it is necessary to appropriate the unencumbered balances in the various capital projects funds to authorize those funds for project related expenditures. NOW, ~RE, BE IT ORDAINED by the Counci1 of the City ofDub1in, State of Ohio, of the elected members concurring: Section 1. That there be appropriated from the unappropriated balance in the Community Center Construction Fund the amount of $475, 102.38 with $25,000.00 being appropriated to account 43-03-14-2349 for various professional services and the remaining $450,102.38 being appropriated to account 43-04-14-2530 for construction of the facility. Section 2. That there be appropriated from the unappropriated balance in the Transportation Fund the amount of $16,240. 16 to account 49-03-14-2551 for related ....... design fees. '" Section 3. That there be appropriated from the unappropriated balance in the Metatec ....'-'- TIF Fund the amount of $65,027.92 to account 51-03-14-2551 for construction costs related to the Perimeter Drive extension project. Section 4. That there be appropriated from the unappropriated balance in the McKitrick TIF Fund the amount of $460,948.47 with $100,000.00 being appropriated to account 52-03-14-2349 for related professional services and the remaining $360,948.47 being appropriated to account 52-03-14-2551 for construction costs related to the Emerald Parkway project. Section 5. That there be appropriated from the unappropriated balance in the Perimeter Center TIF Fund the amount of $221,687.00 with $21,687.00 being appropriated to account 56-03-14-2349 for related professional services and the remaining $200,000.00 being appropriated to account 56-03-14-2510 for costs associated with potential land acquisition. Section 6. That this Ordinance is hereby declared to be an emergency measure necessary for the processing of additional change orders related to the specified projects and therefore shall take effect and be in force immediately upon its passage. 11'1"""'""" passedtbisA~bA' dayof ~,1996 tr". r:JH ~ Mayor - Presiding Officer I hereby certify thof ~(Ift;es It' t"i~ ()r.f' ,..,. ~ in t (' ,,"ltre .1"'~hn .ty of Dublin in accordanc. wi~ Section 731 25 f were post ATTEST: . 0 tfte Ohio levfs. ~ Cod. f\;;f~t~ -' .._,...'.. 4_-;"';;';"0;' .. "':'''4 ~ C!-~ Clerk of Council 1 -,' I N T E R MEMO 0 F F I C E """""--'-'>' To: Members of Dublin City Council From: Timothy C. Hansley, City Manager Subject: Ordinance Amending the Annual Appropriations - Date: January 17, 1996 Initiated By: Marsha I. Grigsby, Director of Finance As the Ordinance states, the legislation is needed to appropriate unencumbered balances as of December 31, 1995 in various capital projects funds. These separate funds were established as required by the Ohio Revised Code. As of December 31, 1995 funds remained unencumbered as a result of interest income earned, unused contingencies, and projects with contracts yet to be awarded. Section 1. When the contract was awarded for the construction of the Community Recreation Center an amount equal to 5% ($481,500) was appropriated for contingencies. As of December 31, 1995, $119,665 of the 5% contingency remained unappropriated. The additional $355,437 being requested for appropriation is the amount of interest income that has been earned as a result of investing the note proceeds based on cash flow needs. ~l:! Section 2. The Transportation Fund was established for the State Route 161-Dale to Sawmill project because Federal and State dollars would be funding a significant portion of the project. The City is responsible for 100% of the design costs and to date they have totaled $309,720 with an additional - $393,979 encumbered as of December 31, 1995. The $16,240 being requested for appropriation is the difference between the fund balance of $410,219 at December 31, 1995 and the $393,979 encumbered as of December 31, 1995. Section 3. The request for appropriation of unencumbered funds in the Metatec TIP Fund is the result of funds having been appropriated for contingencies at the time the construction contracts were awarded and not having to be utilized prior to December 31, 1995 and interest income earned. At City Council's January 8, 1996 City Council meeting legislation was authorized to issue bonds for this project and retire the notes currently outstanding. This debt will subsequently be retired with service payment in lieu of taxes received as a result of the TIP agreement between the City and Metatec Corporation. 1III'l1'~'~ ..~---"'--"~-,-'"- -~~-,"",_,,~,,--"~-----'.-.;'''''''+., "'.~ , '0 ~fi~,,'c""_"CC'''_'_'''""__~'_~' . " Page 2 January 17, 1996 Section 4. The McKitrick TIP Fund was established for the construction of Emerald Parkway between Coffinan Road on the west and Dublin Road on the east. The construction contract for Phase I was awarded in November 1995. Design for Phase II is on-going and additional fIIP"""'" appropriations will be needed when the construction contract for Phase II is awarded. The City issued notes in the amount of $3,125,000 for land acquisition costs, design costs and Phase I construction costs in September 1995. The $460,948 requested for appropriation is the amount ." .~.cil remaining unencumbered from the $3,125,000 note issue and interest income earned in the amount of $16,337. This debt will subsequently be retired from service payments in lieu of taxes and the $600,000 received from the Ohio Department of Development. Section 5. The Perimeter Center TIF Fund was established for the construction of Emerald Parkway south of Post Road to the extended Perimeter Drive and Perimeter Drive from Commerce Parkway to the extended Emerald Parkway. The City has previously advanced $250,000 from the General Fund to this fund for design costs and land acquisition costs. This project will be funded with a combination of City funds (identified cash reserves), service payments in lieu of taxes, and a grant from the Ohio Public Works Commission. Construction for this project will be bid in the spring. The $221,687 requested for appropriation is the balance of the $250,000 advance that remains unencumbered. If you have any questions or need additional information, please let us know. ........... ...~ -