File #: ID 19-0628    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 8/27/2019 In control: City Council
On agenda: 9/17/2019 Final action: 9/17/2019
Title: Ordinance in the Amount of $2,984,835 Amending the Water Resources Capital Project Bond Fund - Series 2018 Budget to Establish Funding for a Change Order to Contract 2016-002A with Adams Robinson Enterprises, Inc. for the T.Z. Osborne Water Reclamation Facility Package 4 Project
Attachments: 1. 19-0628 Ordinance TZO Pkg 4.pdf
Related files: ID 19-0618

 

Title

Ordinance in the Amount of $2,984,835 Amending the Water Resources Capital Project Bond Fund - Series 2018 Budget to Establish Funding for a Change Order to Contract 2016-002A with Adams Robinson Enterprises, Inc. for the T.Z. Osborne Water Reclamation Facility Package 4 Project

 

Body

Council Priority:  Maintain Infrastructure and Provide Sustainable Growth Opportunities

 

Department:  Water Resources

Council District: 2

 

Public Hearing: N/A

Advertising Date/By: N/A

 

Contact 1 and Phone: Steven D. Drew, 373-7893

Contact 2 and Phone: Kristine Williams, 373-2556

 

PURPOSE:

The City of Greensboro Water Resources Department has determined that additional work is required for capacity upgrades related to construction contract 2016-002A for the T.Z. Osborne Water Reclamation Facility Package 4 Project.  This project will require an increase of appropriation in the Water Resources Capital Project Bond Fund - Series 2018. This project is part of the overall Water Resources Capital Improvement Plan that has been previously discussed during the Water Resources budget briefing. Council approval is needed for a budget amendment to permit the additional appropriation of bond funds.

 

BACKGROUND:

The proposed budget amendment will enable the City to appropriate additional revenue bond funding in the Water Resources Capital Project Bond Fund - Series 2018, in the amount of $2,984,835, to fund the change order for additional construction of the T.Z. Osborne Water Reclamation Facility Package 4 project.  The project was funded from previously issued bond anticipation notes. The notes will be converted to permanent bond financing in FY19-20.

 

BUDGET IMPACT:

This amendment will increase the Water Resources Bond Fund - Series 2018 Budget by $2,984,835, from $105,376,539 to $108,361,374. Revenue bonds will be issued in FY19-20 to refinance outstanding bond anticipation notes to long-term bonds and fund completion of the projects.

 

RECOMMENDATION / ACTION REQUESTED:

It is requested and recommended that City Council adopt the attached ordinance to amend the Water Resources Capital Project Bond Fund - Series 2018 budget to establish additional funding for the construction of the T.Z. Osborne Water Reclamation Facility Package 4 Project.