HomeMy WebLinkAboutResolution 5093-06-2019 A Resolution
NO. 5093-06-2019
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE
SYCAMORE CREEK SANITARY SEWER RELIEF INTERCEPTOR, PHASE 3
PROJECT
WHEREAS, the City of Fort Worth, Texas (the "City") is a home-rule
municipality and political subdivision of the State of Texas; and
WHEREAS, the City expects to pay expenditures in connection with the design,
planning, acquisition and construction for the Sycamore Creek Sanitary Sewer Relief
Interceptor, Phase 3 Project (the "Project") prior to the issuance of obligations by the
City in connection with the financing of the Project from available funds; and
WHEREAS, the City finds, considers, and declares that the
reimbursement of the City for the payment of such expenditures will be
appropriate and consistent with the lawful objectives of the City and,
as such, chooses to declare its intention, in accordance with the
provisions of Section 1.150-2 of the Treasury Regulations, to reimburse
itself for such payments at such time as it issues obligations to finance
the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
Section 1. The City reasonably expects debt, as one or more series of
obligations, may be issued or incurred by the City with an aggregate maximum
principal amount not to exceed $1,665,000.00 for the purpose of paying the
aggregate costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital
expenditures. No obligations will be issued by the City in furtherance of this
Statement after a date which is later than 18 months after the later of (1) the
date the expenditures are paid or (2) the date on which the property, with
respect to which such expenditures were made, is placed in service.
Section 3. The foregoing notwithstanding, no obligation will be issued
pursuant to this Statement more than three years after the date any
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expenditure which is to be reimbursed is paid.
Adopted this 4th day of June 2019.
FORT
ATTEST: �'L'L0
By:
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Mary Kayser, City ecretary �'XqS
ORT WORT
CERTIFICATE OF INTERESTED PARTIES
FORM 1295
1of1
7-7
Complete Nos.1-4 and 6 if there are interested parties. OFFICE USE ONLY
Complete Nos.1,2,3,5,and 6 if there are no interested parties. CERTIFICATION OF FILING
1 Name of business entity filing form,and the city,state and country of the business entity's place Certificate Number:
of business. 12019-475663
Lockwood,Andrews&Newnam, Inc.
Houston,TX United States Date Filed:
2 Name of governmental entity or state agency that is a party to the contract for which the form is D4/11/2019
being filed.
City of Fort Worth Date Acknowledged:
3 Provide the identification number used by the governmental entity or state agency to track or identify the contract,and provide a
description of the services,goods,or other property to be provided under the contract.
102069
Engineering Services
4 Nature of interest
Name of Interested Party City,State,Country(place of business) (check applicable)
Controlling Intermediary
Daly, III, Leo Washington, DC United States X
Swafford, C.Wayne Houston,TX United States X
Brader,James Omaha, NE United States X
Curry,W. Derrell Houston,TX United States X
Boyd,J.Anthony Houston, TX United States X
Rastogi, Devarati Dallas,TX United States X
Vajdani, Sima Los Angeles,CA United States X
5 Check only if there is NO Interested Party. ❑
6 UNSWORN DECLARATION
My name is Justin C. Reeves and my date of birth is _
My address is_ _ ,_N_,__ M-
(street) (city) (state) (zip code) (country)
I declare under penalty of perjury that the foregoing is true and correct.
Executed in Tarrant County, State of Texas —on the 11thday of April 201A _.
(month) (year)
Signature authors d agent of c ntracting business entity
Declarant)
Forms provided by Texas Ethics Commission www.ethics.state.tx.us Version V1.1.39f8039c
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6/5/2019 M&C-Council Agenda
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/4/2019 -Resolution No. 5093-06-2019 & Ordinance No.
23683-06-2019
DATE: Tuesday, June 4, 2019 REFERENCE NO.: **C-29143
LOG NAME: 60SCSSRIP3-LAN
SUBJECT:
Authorize Execution of an Engineering Agreement with Lockwood Andrews & Newnam, Inc., in the Amount
of$897,816.00 for Design of Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 from Vickery
Boulevard to Cobb Park Drive, Provide for Staff Costs, Property Acquisition and Utility Coordination for a
Total Project Amount of$1,510,016.00, 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 Sanitary Sewer Relief Interceptor, Phase 3 Project;
2. Adopt the attached Appropriation Ordinance increasing estimated receipts and appropriations for
the Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 Project in the Water and Sewer
Commercial Paper Fund in the amount of$1,510,016.00; and
3. Authorize execution of an Engineering Agreement with Lockwood Andrews & Newnam, Inc., in the
amount of$897,816.00 for Design of Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3
Project (City Project No.102069).
DISCUSSION:
This Mayor and Council Communication is to authorize the preparation of plans and specifications for the
Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 Project from Vickery Boulevard to Cobb Park
Drive. The proposed project will provide additional capacity and help alleviate wet weather overflows in the
Sycamore Creek Drainage Basin.
Lockwood Andrews & Newnam, Inc., proposes to provide all the necessary design services for the
Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 for a fee of$897,816.00. Staff considers the
proposed fee to be fair and reasonable for the scope of services proposed.
In addition to the contract amount, $612,200.00 is required for project management, utility coordination and
real property acquisition.
Engineering for the Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 project is one component
of the overall project that includes project management, real property/easement acquisition, utility
coordination, material testing, inspection, construction and contingencies. Design is expected to start in
June 2019 and be completed by December 2020. Construction is anticipated to commence in April 2021
and be completed by December 2022. This project is part of the Water Department's Sanitary Sewer
Overflow Initiative Program.
This project is anticipated to be included in a future revenue bond issue for the Water and Sewer Fund.
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6/&2019 M&C-Council Agenda
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 CP 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.
This project will have no impact on the Water Department's operating budget.
M/WBE OFFICE: Lockwood Andrews & Newnam, Inc., is in compliance with City's BDE Ordinance by
committing to 15 percent SBE participation. The City's SBE goal on this project is 10 percent.
The project is located in COUNCIL DISTRICT 8.
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/Sewer Commercial Paper Fund for
the Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 Project. The Water& Sewer Commercial
Paper Fund includes authority of$150,000,000.00 for the purpose of providing interim funding for Water
and Sewer Capital Projects. After this transfer, the balance will be$26,004,094.00 for future capital
projects. Funding for the Sycamore Creek Sanitary Sewer Relief Interceptor, Phase 3 project is depicted
in the table below:
FUND Existing Additional Project Total*
Appropriations Appropriations
W&S Commercial Paper- Fund $0.00 F,510,016.00 $1,510,016.00
56016
Project Total jp.00 $1,510,016.00 $1,510,016.00
* Numbers rounded for presentation
FUND IDENTIFIERS (FIDs).:
TO
Fund Department Accoun Project Program Activityl Budget Reference # Amount
ID ID Year (Chartfield 2)
FROM
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61&2019 M&C-Council Agenda
ERM Department Account Project Program Activity Budget Reference# Amount
coun
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Submitted for City Manager's Office by; Jay Chapa (5804)
Originating Department Head: Chris Harder (5020)
Additional Information Contact: Liam Conlon (6824)
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