HomeMy WebLinkAboutResolution 5364-03-2021A Resolution
NO. 5364-03-2021
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE TRINITY
BOULEVARD 36-INCH WATER MAIN RELOCATION PHASES 1 AND 2
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 Trinity Boulevard 36-Inch Water Main
Relocation Phases l and 2 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 $500,000.00 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 23rd day of March 202 l.
ATTEST:
Mary J. Kayser, City Secretary
MAYOR AND COUNCIL COMMUNICATION MAP
60T361NWLP1 P2-KHA
N +
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 03/23/21
LOG NAME: 60T361NWLP1 P2-KHA
SUBJECT
M&C FILE NUMBER: M&C 21-0218
(CD 5) Authorize Execution of an Engineering Agreement in the Amount of $262 ,380.00 with Kimley-Horn and Associates, Inc., for Design of the
Trinity Boulevard 36-lnch Water Main Relocation , Phases 1 and 2 Project, Provide for Project Costs for a Total Project Amount of $381 ,755.00 ,
Adopt Resolution Expressing Official Intent to Reimburse Expenditures and Proceeds of Future Debt and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council :
1. Authorize execution of an engineering agreement with Kimley-Horn and Associates, Inc ., in the amount of $262 ,380 .00 for the Trinity
Boulevard 36-inch Water Main Relocation Phases 1 and 2 project;
2. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds of future debt for the Trinity Boulevard 36-
inch Water Main Relocation Phases 1 and 2 project ; and
3. Adopt the attached appropriation ordinance adjusting appropriations in the Water and Sewer Commercial Paper fund by increasing
appropriations in the amount of $381 ,755 .00 for the Trinity Boulevard 36-inch Water Main Relocation Phases 1 and 2 project (City Project
No. 102101) and decreasing appropriations in the Unspecified project (City Project No. UN SPEC) by the same amount..
DISCUSSION:
This Mayor and Council Communication (M&C) is to authorize the preparation of plans and specifications for the construction of Trinity Boulevard
36-inch Water Main Relocation Phases 1 and 2 project from Interstate Highway {IH) 820 to Salado Trail and from Salado Trail to Thomas Trail to
facilitate the reconstruction of Trin ity Boulevard within the identified limits to a four-lane divided concrete thoroughfare.
The proposed scope of services include design for the transmission main , subsurface utility engineering, geotechnical investigation and cathodic
protection design . Kimley-Horn and Associates , Inc., proposes to provide all the necessary des ign services for the transmission main for a fee of
$262,380.00. Staff considers the proposed fee to be fair and reasonable for the scope of services proposed. In addition to the contract amount,
$119 ,375 .00 is required for project management, real property acquisition , public outreach and material testing. This project will have no impact
on the Water Department operating budget when complete .
Funding for Trinity Boulevard 36-inch Water Main Relocation Phases 1 and 2 is depicted below:
Fund
General Capital
Projects -Fund 30100
W&S Commercial
Paper -Fund 56019
!Project Total
I Existing
~ppropriations
1 $290 .000 .001
I $0.00/1
II $290,000 .00II
Additional
Appropriations
$0.00 $290,000 .00
$381,755 .00 ,$381 ,755 .00
$381,755 .oo ll$671.755.oo l
*Numbers rounded for presentation purposes .
This project is anticipated to be included in a future revenue bond issue for the Water & 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. 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. Under federal law, debt
must be issued within approximately three years in order for these expenses to be reimbursable . Adoption of the attached resolution does not
obligate the City to sell bonds , but preserves the ability of the City to reimburse itself from tax-exempt bond proceeds .
M/WBE OFFICE : Kimley-Horn and Associates, Inc., is in compliance with City's BOE Ordinance by committing to eight percent business equity
participation on this project. The C ity's business goal on this project is eight percent.
The project is located in COUNCIL DISTRICT 5.
FISCAL INFORMATION/ CERTIFICATION:
The Director of Finance certifies that funds are currently available in the UNSPEC project within the W&S Commercial Paper Fund and upon
approval of the above recommendations and adoption of the attached appropriation ordinan ce , funds will be available in the W&S Commercial
Pape r Fund for the Trinity Blvd. -820 -Salado Ph1 project to support the approval of the above recommendations and execution of the engineering
agreement. Prior to an expenditure being incurred, the Water Department has the responsibility of verifying the availability of funds .
Submitted for City Manager's Office by: Dana Burghdoff 8018
Originating Business Unit Head: Chris Harder 5020
Additional Information Contact: Suby Varughese 7803
Expedited