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HomeMy WebLinkAboutOrdinance 22991-11-2017 Ordinance No. 22991-11-2017 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE AMOUNT OF $1,979,423.00 IN THE WATER AND SEWER DPN FUND, FROM AVAILABLE FUNDS, FOR MARINE CREEK INTERCEPTOR IMPROVEMENTS PHASE 1, PART 2; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That in addition to those amounts allocated to the various City departments for Fiscal Year 2017-2018 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the amount of $1,979,423.00 in the Water and Sewer DPN Fund, from available funds, for Marine Creek Interceptor Improvements Phase 1, Part 2. SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain in full force and effect. SECTION 3. That this ordinance shall be cumulative of Ordinance 22928-09-2017 and all other ordinances and appropriations amending the same except in those instances where the provisions of this ordinance are in direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed. SECTION 4. This ordinance shall take effect upon adoption. APPROVED AS TO FORM AND LEGALITY: CITY SECRET e Douglas W Black MEIry J. 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Ir111NtI1i114a aRr ltii.ilt;lt'tl1 �.�a � -- • ,`i ••I,li'�ti}J� •:i w+•9Y C'CClil11S "it1Zi�..� �' k M l�,'.. !4�*e�+Yr%iNYw XRhFrR7ii 75a, ■' ■' •�+����lq=lii f+3';�ettrlflt.J }"!!!'.'1111 � ip�: st.tt'y� p -moi Tfi4rFI .s l.F•ciY 1!!i�J � AisP l`aiii i >�.i L+• � � `\ilea •: s'•,T fi1�R[ �A4.\aii,Vii• City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 11/7/2017 - Ordinance No. 22991-11-2017 & Resolution No. 4862-11-2017 DATE: Tuesday, November 7, 2017 REFERENCE NO.: C-28470 LOG NAME: 60MCM365VARPH1P2-PMCONST SUBJECT: Authorize Execution of Contract with PM Construction & Rehab, L.P. in the Amount of$1,681,223.00 for Marine Creek Interceptor Improvements Phase I, Part 2, Located in the Marine Creek Hills Neighborhood Provide for Project Costs, Materials Testing and Contingencies for a Total Project Amount of $1,979,423.00, Adopt Resolution Expressing Official Intent to Reimburse Expenditures with Proceeds of Future Debt and Adopt Appropriation Ordinance (COUNCIL DISTRICT 2) RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds of future debt for the Marine Creek Interceptor Improvements Project; 2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Water and Sewer DPN Fund in the amount of$1,979,423.00; and 3. Authorize execution of a contract with PM Construction & Rehab, L.P., in the amount of$1,681,223.00 for Marine Creek Interceptor Improvements Phase I, Part 2 (City Project No. 02223). DISCUSSION: This project provides for trenchless pipe enlargement to upgrade and replace an existing deteriorated sanitary sewer main located within the Marine Creek Sanitary Sewer Basin beginning from the Robertson Road/Boat Club.Road intersection generally in a southeasterly direction 5,800 feet to the Bowman- Roberts Road/Cromwell Marine Creek Road intersection. This project was advertised for bids on July 13, 2017 and July 20, 2017 in the Fort Worth Star-Telegram. On August 10, 2017 the following bids were received: � �Bidder _ Amount Time of Completion IPM Construction & Rehab, L.P. $1,681,223.00 320 CCaY I es William J. Schultz, Inc. d/b/a Circle " C" Construction Company, Inc. $1,754,300.00 Logname: 60MCM365VARPHIP2-PMCONST Page 1 of 3 DARK Construction Company, Inc. $2,849,130.00 In addition to the contract cost, $214,100.00 is required for project management, material testing and inspection and $84,100.00 is provided for project contingency. This project is anticipated to be included in a future revenue bond issue for the Water and Sewer Fund. Available cash within the Water and Sewer portfolio and the City's portfolio along with the appropriation authority authorized under the Direct Purchase Note (DPN) Program will be used to provide interim financing for this project until debt is issued. To the extent resources other than the Water and Sewer portfolio are used to provide interim financing, the Water and Sewer Fund will be charged interest that is equivalent to the overall rate of return being earned by the City portfolio (currently approximately one- percent annually). Should the City's portfolio not support the liquidity needed to provide an interim short- term financing source, another funding source will be required, which could mean issuance of securities under the DPN Program or earlier issuance of Water and Sewer revenue bonds than is currently planned. Once debt associated with this project is sold, bond proceeds will be used to reimburse the Water and Sewer portfolio and the City's portfolio in accordance with the attached Reimbursement Resolution. The City Council adopted the Water Department's Fiscal Year 2017-2021 Five Year Capital Improvement Plan on January 24, 2017, Mayor and Council Communication (M&C G-18927). This City Council adopted plan includes this specific project, with funding identified through the DPN program to be reimbursed with future revenue bonds. In accordance with the provisions of the Financial Management Policy Statement, Staff anticipates presenting revenue-supported debt issuances to the City Council for consideration within the next three years. This debt must be issued within approximately three years to provide reimbursement for these expenses. If that does not occur, the costs will no longer be reimbursable by issuing tax-exempt debt and the funding source will have to be made whole through budgetary methods. Adoption of this resolution does not obligate the City to sell bonds, but preserves the ability to reimburse the City from tax- exempt bond proceeds. Construction is anticipated to commence in January 2018 and be completed by December 2018. The overall project budget is estimated to be $4,974,000.00. This project is part of the Water Department's Sanitary Sewer Overflow Initiative Program. This project will have no impact on the Water Department's Operating Budget when complete. M/WBE OFFICE — PM Construction & Rehab, L.P., is in compliance with City's BDE Ordinance by committing to six percent MBE participation. The City's MBE goal on this project is six percent. The project is located in COUNCIL DISTRICT 2. FISCAL INFORMATION /CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the Water and Sewer DPN Fund for this project. The Water and Sewer DPN Fund includes authority of$100,000,000.00 for the purpose of providing interim funding for Water and Sewer Capital Projects. After this transfer, the balance will be $87,720,529.00: FUND Existing Additional Project Appropriations Appropriations Total* 2017A Water and 'Sewer Bond Fund $1,922,700.00 $0.00 $1,922,700.00 j56011 Water and Sewer Logname: 60MCM365VARPHIP2-PMCONST Page 2 of 3 IDPN Fund 56014 $0.0011 $1,979,423.00'$1,979,423.00 Sewer Capital r- . Fund - Legacy � $1,070,956.00 $0.00 $1,070,956.00 59607 Project Total $2,993,656.001 $1,97.9,423.00 $4,973,079.00 " Numbers rounded for presentation purposes __._.._. FUND IDENTIFIERS (FIDs): TO Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year Chartfield 2 FROM Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year Chartfield 2 CERTIFICATIONS: Submitted for City Manager's Office by: Jay Chapa (5804) Originating Department Head: Kara Shuror (8819) Additional Information Contact: Roberto C. Sauceda (2387) Logname: 60MCM365VARPHIP2-PMCONST Page 3 of 3