HomeMy WebLinkAboutResolution 5416-06-2021 A Resolution
NO. 5416-06-2021
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE WALNUTE
CREEK SANITARY SEWER EXTENSION
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 Walnut Creek Sanitary Sewer
Extension 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 $2,800,000.00 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 22°d day of June 2021.
ATTEST: U
By ,TEXAS:
Mary J. Kayser, City Secretary
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 06/22/21 M&C FILE NUMBER: M&C 21-0478
LOG NAME: 60WCREEKSSE-DUNAWAY
SUBJECT
(CD 3)Authorize Execution of an Engineering Agreement with Dunaway Associates,LLC for$662,656.00 for Design of the Walnut Creek
Sanitary Sewer Extension, Provide for Project Costs for a Total Project Amount of$2,154,511.00,Adopt Attached Resolution Expressing Official
Intent to Reimburse Expenditures with Proceeds of Future Debt,and Adopt Attached Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize execution of an Engineering Agreement with Dunaway Associates,LLC in the amount of$662,656.00 for the Walnut Creek
Sanitary Sewer Extension;
2. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds from future debt for the Walnut Creek
Sanitary Sewer Extension;and
3. Adopt the attached appropriation ordinance adjusting appropriations in the Water and Sewer Commercial Paper Fund by increasing
appropriations in the amount of$2,154,511.00 in the Walnut Creek Sanitary Sewer Extension Project(City Project No. 103414)and
decreasing appropriations in the Unspecified project(City Project No. UNSPEC)by the same amount.
DISCUSSION:
This Mayor and Council Communication is to authorize the preparation of plans and specifications for the construction of the existing sanitary
sewer main located south of the Walnut Creek Sanitary Sewer Extension from the Aledo Road/Farm-to-Market(FM)2871 intersection westerly to
the east boundary line of Walsh Ranch property.The proposed extension will provide sanitary sewer service for future development to the City's
Certificate of Convenience and Necessity located north and south of Aledo Road west of FM 2871.
The proposed scope of services include field surveys,design for the sewer main,design survey,environmental confirmation,easement
preparation,subsurface utility engineering,geotechnical investigation,coordination and permitting with various agencies.
Dunaway Associates,LLC proposes to provide all the necessary design and construction administration services for a fee of$662,656.00.Staff
considers the proposed fee to be fair and reasonable for the scope of services proposed.
In addition to the contract amount,$1,491,855.00 is required for project management,real property acquisitions,utility coordination and material
testing.This project will have no impact on the Water Department Operating budget when complete.
Appropriations for the Walnut Creek Sanitary Sewer Extension are as depicted below:
Fund Existing Additional Project Total*
��Appropriation�sAppropriations
W&S Commercial $0.00 $2,154,511.00 $2,154,511.00
Paper Fund 56020
Project Total I$0.00 $2,154,511.00 $2,154,511.00
*Numbers rounded for presentation.
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 to reimburse itself from tax-exempt bond proceeds.
Business Equity:Dunaway Associates, Inc is in compliance with the City's Business Equity Ordinance by committing to 13%Business
Equity participation on this project.The City's Business Equity goal on this project is 10%.
The project is located in COUNCIL DISTRICT 3.
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 ordinance,funds will be available in the W&S Commercial
Paper Fund for the Walnut Creek SS Extension project to support the approval of the above recommendation and execution of the contract. Prior
to any 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