The URL can be used to link to this page

Home My WebLink AboutOrdinance 23288-06-2018 Ordinance No. 23288-06-2018 AN ORDINANCE REDUCING UNALLOCATED RECEIPTS AND APPROPRIATIONS IN THE AMOUNT OF $3,415,695.00 IN THE WATER AND SEWER COMMERCIAL PAPER FUND, FOR SYCAMORE CREEK INTERCEPTOR IMPROVEMENTS, PHASE 1; 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 reduced unallocated receipts and appropriations in the amount of $3,415,695.00 in the Water and Sewer Commercial Paper Fund, for Sycamore Creek Interceptor Improvements, Phase 1. 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 SECRETARY Douglas W Black ary J.'Kays r Sr. Assistant City Attorney ADOPTED AND EFFECTIVE: June 26. 2018 MAYOR AND COUNCIL COMMUNICATION MAP 60SCREEKIIPI-MOUNTAINCASCADE N i - j u Creek m - C] - 30 EXIT 16C INTEP. 30 30 y Y i - _ LAN + TEj AVLQDMARLANSAke j t �`. +47�ER AVE ti fElfs -� - p 1NN .F a SYCAMORE CREEFC VALKUS 8T FORTWORTH Gf l_F.0 URSE City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 6/26/2018 - Resolution No. 4955-06-2018 & Ordinanc_e No. 23288-06-2018 DATE: Tuesday, June 26, 2018 REFERENCE NO.: **C-28754 LOG NAME: 60SCREEKIlPl-MOUNTAINCASCADE SUBJECT: Authorize Execution of a Contract with Mountain Cascade of Texas, LLC, in the Amount of$2,883,880.00 for Sycamore Creek Interceptor Improvements, Phase 1, Provide for Project Costs, Materials Testing and Contingencies for a Total Project Amount of$3,415,695.00, Adopt Resolution Expressing Official Intent to Reimburse Expenditures with Proceeds of Future Debt and Adopt Appropriation Ordinance (COUNCIL DISTRICT 8) 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 Sycamore Creek Interceptor Improvements, Phase 1 Project; 2. Adopt the attached appropriation ordinance reducing unallocated receipts and appropriations in the Water and Sewer Commercial Paper Fund in the amount of$3,415,695.00; and 3. Authorize execution of a contract with Mountain Cascade of Texas, LLC, in the amount of $2,883,880.00 for Sycamore Creek Interceptor Improvements, Phase 1 (City Project No. 02200). DISCUSSION: This project will provide additional wastewater capacity to the Sycamore Creek drainage basin by the construction of a 66-inch relief sewer main, extending from an existing 72-inch sewer line located in Gateway Park and proceeding southerly 1,900 feet to the Union Pacific Railroad right-of-way. This project is recommended in the Wastewater Master Plan. This project was advertised for bids on April 19, 2018 and April 26, 2018 in the Fort Worth Star-Telegram. On May 17, 2018, the following bids were received: Bidder Amount ion Mountain Cascade of Texas, LLC [$2,883,880.00 270 Calendar Days S.J. Louis Construction of Texas, Ltd. [$3,332,773.84 Ark Contracting Services [$3,464,120.00 Logname: 60SCREEKIIPI-MOLNTAINCASCADE Page I of 3 William J. Schultz, Inc. dba Circle C Construction $3,570,250.00 Company Palle Construction Company $3,793,341.84 Jackson Construction Ltd. �$4,674,251.00 In addition to the contract amount, $380,571.00 is required for project management, material testing and inspection and $151,244.00 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 Callable Commercial Paper Program (CP) 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 CP 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 2018-2022 Five Year Capital Improvement Plan on September 26, 2017. 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 for Phase 1 is anticipated to commence in September 2018 and be completed by June 2019. 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— Mountain Cascade of Texas, LLC, is in compliance with City's BDE Ordinance by committing to 25 percent MBE participation. The City's MBE goal on this project is 25 percent. The project is located in COUNCIL DISTRICT 8, Mapsco 120E and 120F. 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 Water& Sewer Commercial Paper Fund for the Sycamore Creek Interceptor Improvements, Phase 1 Project. The Water and Sewer Commercial Paper Fund includes authority of$150,000,000 for the purpose of providing interim funding for Water and Sewer Capital Projects. After this transfer, the balance will be $134,171,935 for future capital projects. Funding for the Sycamore Creek Interceptor Improvements, Phase 1 project is as depicted below: Logname: 60SCREEKIIPI-MOUNTAINCASCADE Page 2 of 3 FUND Existing Additional Project Appropriations Appropriations Total* Water & Sewer Commercial $255,030.00 $3,415,695.00 $3,670,725.00 Paper Fund 56016 Sewer Capital Fund - $1,818,139.00 $0.00 $1,818,139.00 Legacy 59607 Project Total $2,073,169.00 $3,415,695.00 $5,488,864.00 *Numbers rounded for presentation purposes. FUND IDENTIFIERS (FIDs): TO Fund Department �Accounj 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: Chris Harder (5020) Additional Information Contact: Liam Conlon (6824) Logname: 60SCREEKIIPI-MOLJNTAINCASCADE Page 3 of 3