The URL can be used to link to this page

Home My WebLink AboutResolution 5171-12-2019 A Resolution NO. 5171-12-2019 STATEMENT EXPRESSING OFFICIAL INTENT TO REIMBURSE EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE CULTURAL DISTRICT/WILL ROGERS AREA WATER AND SANITARY SEWER IMPROVEMENTS 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 Cultural District/Will Rogers Area Water and Sanitary Sewer Improvements 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, THAT: 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 $300,000.00 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 expenditure which is to be reimbursed is paid. Adopted this 17th day of December 2019. ATTEST: 0� FOlgj,� By: ly :* Mary J. Kayser,/City Secretary �qS. t+t41'li ti I- .tilil l♦Ri '� yrr(rY, ai.. .Y i clt/:r s rl[i � M ♦.��/li Elli _ R ifai et I rift"t•i f■�� , t {nr/r d is ! arxrertr r lrri rr 1 •Y i�SN it--ItIR•1.i { • � „'`»ram,xot t rrlr r�+.rellt,l',ra�_+14i � tpl Pi t!1 rii 1 tRkHlj.-i �_, ♦ �� «�♦•*y,1� Itl4 : .rwra • l a iim» 1 tilt!u !,• a-� �► lnau ltiR " "t 'r'IPtfY �il�t . 'ii /�1 • ��r,.�'•''a .r•Y >rirlifl! tIt11P it i+a• •Vi9r i iHi: ,! Al/lr tltN 7•.rf- a(yrtl �nutitil ltAt.1 it' i i{{y.!��, r'• ttl ❑1t6 »'.F1. "' �•�i�t\t{♦'��1Mi r � till.III ii:liti I r•t♦t..�M ,s i!�•Irii 1i f ql tit i^tl 1 --i rt.--R,xR sit l Rrle - �� ¢>1a♦;yAr itltl Yf4 r!2 r „° ..a w.,w• /rll:1 llelet a "• - .!i R. �yYYi 1i iLY rlIXiin 't t- 1 e �l ,3\t.i�.,iY ��' �'♦a 4 �4�,� A[fir 7�11t1 - A tri u.aw Nl lrllliti Rlliiilll 4 Y1t. I.Nletr [ 1 ! �� Y• y aril 1' i/r (ii(Yr. F11r iiif W - _ IS 1 m�\ � ♦Y"' Y•r•Yk Ytan[Y Y 31f t C '••� 4��»i4 � �1 eiilt■� F-Ilirii e ■I P.r"it i � =i it Ilrrgryir��~ �tiP\\ 'i� � �� _� '�•�.'� i��N�;�' . w a ••Ktl;rn+aj � '� i i irl:,.�.:�IxB�^;�z s�� ♦Y I ��`� •��itrrrr�awil 1 X . �� Rr tt�tw...ta�wlw ter. �I�f pip I f • ��1 it r � !y��1�,��,¢4Js�� ♦ �� ■ Yisiril�l. r ��:... rAtCi ",ii i:i ■1� ♦�iq" �� 1�ri/♦W:� ®� f �It•' , 1',� �` � A! f ti �♦ '.�, �y � � _ »��(lilt I rriY -_ .,�url.: r• i a� �r•rr4, i°a o mac- ■ +• _" _Iwr. Rr i' ;1�, � '� — �I+'+r+ rrJt /4`r �,+OP 3, ♦ • TI J� i �� — - • r rr 4+• r »r • Nllrfi ltitlitrrtit i "'fr a _ r .. ,+�iV '-'� i•y+m r+t a,;0-_J � taa��s r R""� •�,nn il. It 9 ..s-' F3 • w� '• •* •i"»•� �.JTi titi+It6`• ` i "r*+ir♦ys♦ v11 a r'+ iHV/ti:ttYt-it - _ #�\a.wa♦�aYr,y •Y 4 �1 �N rA r M X, »'i• � 1 triilfii/tr - r IlRlilkl dllfl �1. 4kisr�8! +i +r,„"•»` s�`d*•i 7t- '+��+ri'pRrrry:»'. i+i errs '��; i m'ic ilrw r� cc i �� 3 -� ... ,.�,_�Il�l�.r "f� �+y = s+s ..•. w.. n t tri �1.abY� -■ !IG, 1`l�li ,.nY, wa t ♦w Ta ya,at+„ s: 1 • rrs+tY ■d•� � r ��'„"` �_{ 1 ac < rxrri/Ui•1r I�� n++�q;*�,� _I t to — Ri�llliill3{� im�w••r�Y. tese,!' � = - �-�._ It__ aT!••rY"M "i%/F'-.•.'Y? nrr • i rl r.. ,:, �a ��IdRrlt o \ is IRlltr !,•,,, ri Yit<ttr ire S' w , 71fiE1tOrr1� 1- ' i��1�� .. karts rrt ■ - .. ■.nwl ■Is Gi i11 �'I�,� : ¢rirur I� _ Iu11�i• ""rrr-•- Iry�� _ �e�•a�su Ir��I11,��'�� 1111.11�Itl`E � ®� � �:TZ3� � t4 w �Yf + rir +~�#-." -tiC t�i•<l�'�r _>R '��x ��r {.��a�Q}�r. t•:;'r SHE -`..r *� 't!� "•/t,�;v a�..x • 1 �y��1�{��r,-.r�W� •.i�t,� ��"� �t�y�,��g� ,7N1 ~';,4 �' a CS,r. (:y•n.r - i Y(viar,-t�'OGR 6 ,i �!a #g`'"a ti i`• �'�AFa f_ ti^eff� •t ^ti \iio; � »:ia i;' 3aYFN.. - -r � ��^•? ry a..� r r��11111��_ � sc t r �+ytt:� 1 .�+'. { ■i Y,r'ty, .� fk 1 � t t�._ Rf��il�i t dGIN.'"--n van/ -- ♦ +r 9..¢i��`y<`". r ira-laws♦a: f$`�' yy .YYYRrMrlrar N•I 1 - rR � s. ft NYats t .1e�s r r¢. -'s o •♦ � tI'Y f R .-_E »,'Yv� ,� a*.re I9AYM.^".t\ iY 8 its! ` r fYfr r kr " i {R � ' '�• _ t r ri•ns�� `'�F,,,p�r i. \ ". • rR ♦rviia a'.sfi0 j;, A i 1F: x r ,i+ lrliirt6lS rr s Y,trygttrr+n,rre r � a'"' � ■ :i a 1�'rfr\1I►,"��FIltitl iililt4 /� a. �v rY�+ yylli[,� •,44«. J. 4♦`r•••y ... tib. .�,•ICY y F kr f(kY 1 ii«�. � t b ■t 3r�itr••. .;� d l E Vet r : �_ eF;lrY»vil9,sa:ii xi'Er„ � �' i � +» +as.., r'1;.Lull/r.�'1�,, 1i"°#i:'s arR� ( -„�' �r -_ t a as i4rittl.l �tr ' . "ir'•,..'tA'c Y 'fi. * 4•r tr`eR r t ! _ -_-.: x iir i' .#titrir/r - �^ . r •f•ti6f p - xr'!t 01^• Ii r .f_..i -r�e n' YYirrsr+y t e rlttw '� 1;•, "r '"s j Pr'r a at:3 Ir,tt„l4 »�- t rriirY tv 3 •• ., Ar, � w_>TM•a'Wyk .+y� rar '♦� i � A CtiN {�'- ,�,o.,.. -Izrriria yt �2 ,� "_^ p + aa♦ !� Td k�s9. "qr• ..� .,rrYYrrziY atlrtRiirtrr•y • ` .�•air "z •�•Fr s•»rI♦w� +S y,rr" rr'- � iMii� «Y11�.rYtrYriYiirtl ss ti 11 rMYYYr.�a�� 't!f ra\"�~Rt ��A •'f'i+•++Sf' 6 ♦ r1tb�.'a5 Sot �� p�ii��11��,'`yF.� :.rix6se� ,.��'y,� Tr +"tilt P \ - + r » i♦"f �, Il�ill� 1»a-3►.;'l.t�`RI¢rcltYl" x,11j`'�.�V illzfi .135\ l b tti L +�fb f=�8 ».r jl y�1" # 41AIILIIrRIICR1iDirM1I a•s,a.csrr.#F: �Oj nr t \t��e3i:g`r 'i;r'It»�s^!t'; mn l a *4s a's'r�' �W �� : �: -" '�A+14"11NIdlElli.rlCa YretrRrrY ..a :t in !iI\ ! •r+• ,.'fi J 41YY,itr%.y • e 0, v'f'I!rr'"' s clrlki a,� ♦ re,ilt i r r � ! � 4 y� .. • M�it•W AIL�R, Illltlr ti« 'aia_ `+r�`,�ty,}r° ,t s a l it,pp�+ r tHU f S ut SiG A /Lama •„ t��r!�rYs I!!R � NY�¢/a1� r't p}}��ar�.C ■p6 � Y Inir t lit iY ttitt/ i3�t ♦ ♦wi s j Y!!'i: i-'n•si!•- � \ �"+Yi9r 'i•�y�i�« ��I�;� �� ,7�� i!� Ct fli f ri li- 8ae2 rrrzYr. ♦ 1�wz3i li: fiiYYYi {;. I-' C Nltlt�, pig /:•'bps♦ 'i \ i i a o•IYYYYIriYa♦♦ �%`I r r. ; eirx �•.�� allir.�� Y/ ¢ R r f-fir/ r IIElIir,»t ills t tlirYt,-.!-.V♦ is a iii311 tr , - Ai• .» ��i��1��R F�1�•� -[IIK riltlil t !t r -' F( tat »tYIY! ti\ b �o ~ Mill tll( �l�� rei 1 Rel tSie +little r .�iY�[rr RFYY' } s W4i iY,(: M a�:►�IIi51f 111 ++."�./ i# i\��Ai' Writ i/trb+R Y{.a • -'•1 n. ��sai- M Rev�t/ris•a:� Fira•ra'!wMw+rurnua RSIk11Ir �'� �}t ti7tr.t' r •r" �i i[rrsa'(!c r�iJ i• __lily 1 •♦1r lYirr:•�1/(lY ta� � ♦h! a+�"++`' rirrraaRr rr�rt r' r"�trr _ - ¢ ir• i ai.a » rRl r p*",(+�•� !l�' !•t it Q r 1�j�4 r�- t +!. a a -r ri • •wa f ��/t#J\i!�'1��A11/�• a ri � - .'� itY �,/ •�y•6•»v y"•Il :. t � `•�+rrt"i�sl It � r `� _ � r Y r a.' �r�� tnitt �.iGi1� � / 1�j/1'i_�il\` @ � " ♦¢r r r ��ja,�� '� �Y 4 r.rr�t�i * ,.-,....- '�- R .� ur.n f•7�%1i`1st�Icw" ��4''',1/1rrY� � I _ `""• f t�.alr I� !i"r.K�yr�l'a`b�A�•�y�r Ya+v �•;;lM► •'i�L11! C*--- iG•1�� r'.`.:�rof' t a`�•st�r�rp•a»♦•TMkr♦�.�r��' �,�yl+�"►n @ 1.• --I l:�r ., + f �Iwe �' s`„~�♦o"�k� A 1•♦� -M� ►Ii-,� t»!nA r Jr�Y F 1 � =kf iti ►� �iC` ' i ar/3,�. J' �yllMi�\�`♦♦ya\ . Is11g+• �,k}s:a � FORTWORTH *qtA r,w t M =iAArY��, �!'- �". rrr ■�� :+ r �\Jc.`� 10 r _ U r 10 �,Si' F sy` t�lr�plaKil•;•i« "iY litti.__Y•" �1' ♦iw..fksrwws Complete ? (All) FUND 56017 Fund Descrip (All) PROJECT Project Descr ACCOUNT Descr DEPT CF1-Activity UNSPEC UNSPECIFIED-ALL Expense None 0600430 None UNSPEC Total Budget Yr Budget Project Revenue Sum of Rev_GL_AMT Sum of Rev—Variance 2019 0.00 0.00 0.00 0.00 Sum of Revised Project Expen5c Sum of Exp_GL_AMT Sum of Exp_Variance 99,279,568.00 99,279,559,00 99,279,568.00 99,279,568.00 City of Fort Worth, Texas Mayor and Council Communication DATE: 12/17/19 M&C FILE NUMBER: M&C 19-0387 LOG NAME: 60CDWRWSSA6-KHA SUBJECT Authorize Execution of Amendment No.6 in the Amount of$228,865.00 to an Engineering Agreement with Kimley-Horn and Associates,Inc.,for the Cultural District/Will Rogers Area Water and Sanitary Sewer Improvements for a Revised Contract Amount of$2,692,580.00,Adopt Resolution Expressing Official Intent to Reimburse Expenditures with Proceeds of Future Debt and Adopt Appropriation Ordinance(COUNCIL DISTRICTS 7 AND 9) 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 Cultural District/Will Rogers Water and Sanitary Sewer Improvements Project; 2. Adopt the attached Appropriation Ordinance increasing receipts and appropriations in the Water and Sewer Commercial Paper Fund in the amount of$253,865.00 for the Cultural District/Will Rogers Water and Sanitary Sewer Improvements Project;and 3. Authorize the execution of Amendment No.6 in the amount of$228,865.00 to City Secretary Contract No.39975,an Engineering Agreement with Kimley-Horn and Associates, Inc.,for Cultural District/Will Rogers Area Water and Sanitary Sewer Improvements project for a Revised Contract Amount of$2,692,580.00(City Project No.C01468). DISCUSSION: On February 9,2010,Mayor and Council Communication(M&C C-24094)the City Council authorized an Engineering Agreement with Kimley- Horn and Associates, Inc.,in the amount of$1,072,250.00 for the Cultural DistricYVVill Rogers Area Water and Sanitary Sewer Improvements.The Agreement was subsequently revised by Amendment No. 1 in the amount of$46,995.00 administratively authorized March 17,2014,Amendment No.2 in the amount of$261,070.00 authorized August 5,2014(M&C C-26903),Amendment No.3 in the amount of$570,100.00 authorized September 20,2016(M&C C-27934),Amendment No.4 in the amount of$269,000.00 authorized August 15,2017,which added the Westside 2 pressure plane to the scope of the contract(M&C C-28331)and Amendment No.5 in the amount of$244,300.00 authorized January 29,2019 (M&C C-29011). Amendment No.6 will provide for additional engineering services on the Westside 2 to Westside 3 Pressure Plane segment of the Project. The amendment will allow for the necessary design to alleviate complaints of low water pressure from customers located in the western part of the Westside 2 Pressure Plane,south and east of the Western Hills North neighborhood to increase water pressure in the area. It is necessary to transfer a portion of the existing Westside 2 Pressure Plane to the adjacent Westside 3 Pressure Plane which has a higher operating pressure. The proposed pressure plane transfer and system improvements in the western part of the Westside 2 Pressure Plane will necessitate the installation of water mains on Chapin Road east of I.H.820,Camp Bowie Boulevard east of I.H.820. In addition to the contract cost,$25,000.00 is required for project management, inspection, land costs,easement acquisition,and material testing. 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 2020-2024 Five Year Capital Improvement Plan on September 17,2019.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. The Water and 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$31,861,475.00 for future capital projects. Funding for the Cultural District/Will Rogers Area Water and Sanitary Sewer Improvements. Fund Existing Additional Project Total* Appropriations Appropriations Water Capital Fund $6,794,511.00 $0.00 $6,794,511.00 59601 Sewer Capital Fund-Legacy 59607 $3,234,652.00 $0.00 $3,234,652.00 Water&Sewer 2015A Bond Fund $1,772,417.00 $0.00 $1,772,417.00 56007 Water&Sewer 2017A Bond Fund $695,000.00 $0.00 $695,000.00 56011 Water&Sewer Commercial Paper $2,492,498.00 $0.00 $2,492,498.00 Fund 56016 Water&Sewer Commercial Paper $0.00 $253,865.00 $253,865.00 Fund 56017 Project Total $14,989,078.00 $253,865.00$15,242,943.00 *Numbers rounded for presentation. M/WBE Office-Kimley-Hom and Associates,Inc.is in compliance with the City's M/WBE Ordinance by committing to 23 percent M/ BE participation on this amendment.The City's M/WBE goal on this amendment is 16 percent. The project is located in COUNCIL DISTRICTS 7 AND 9 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(W&S Commercial Paper)to provide engineering services for the future growth in the Cultural DistrictiWill Rogers Water and Sanitary Sewer Improvements Project.Prior to any expenditure being incurred,the Water Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office by: Dana Burghdoff 8018 Originating Business Unit Head: Chris Harder 5020 Additional Information Contact: John Kasavich 8480