HomeMy WebLinkAboutResolution 5478-09-2021 A Resolution
NO. 547Q-09-2021
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE WEST FORK
COLLECTOR PHASE 1 TRINITY RIVER SYPHON
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 West Fork Collector Phase 1 Trinity
River Syphon 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 $2,900,000.00 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 281h day of September 2021 .
ATTEST: e
By:Ronald P. Gonzales, Acting City Secretary
MAYOR AND COUNCIL COMMUNICATION MAP
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/28/21 M&C FILE NUMBER: M&C 21-0770
LOG NAME: 60WFCPPI-FNI
SUBJECT
(CD 5)Authorize Execution of an Engineering Agreement with Freese and Nichols, Inc., in the Amount of$1,291,465.00 for Design of the West
Fork Collector Parallel,Phase I-Trinity River Siphon to Walker Branch Connection Project, Provide for Project Costs for a Total Project Amount of
$2,226,715.00,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:
I. Authorize execution of an engineering agreement with Freese and Nichols,Inc.,in the amount of$1,291,465.00 for the West Fork Collector
Parallel,Phase I-Trinity River Siphon to Walker Branch Connection project;
2. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds from future debt for the West Fork Collector
Parallel,Phase I-Trinity River Siphon to Walker Branch Connection 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$2,226,715.00 for the West Fork Collector Parallel, Phase I-Trinity River Siphon to Walker Branch
Connection project(City Project No. 103291)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 West Fork Collector
Parallel, Phase I-Trinity River Siphon to Walker Branch Connection project. In addition,erosion analysis will be conducted at three locations along
large sanitary sewer mains parallel to Village Creek to identify what needs to be done to protect these assets.
The proposed scope of services includes design for the sewer main technical memorandum for rehabilitation of the existing 90-inch sanitary sewer
main,design for sanitary sewer aerial crossing,design survey,environmental archeological permitting,easement preparation,floodplain permit
and geotechnical investigations.
Freese and Nichols, Inc., proposes to provide all the necessary design services and analysis for the project for a fee of$1,291,465.00. Staff
considers the proposed fee to be fair and reasonable for the scope of services proposed.
In addition to the contract amount,$935,250.00 is required for project management,real property acquisition,utility coordination,public outreach,
and material testing.
This project will have no impact on the Water Department's operating budget when complete.
Appropriations for the West Fork Collector Parallel, Phase I are as depicted below:
Fund_ i Existing Additional protect Total*
_I Appropriations Appropriations
Paper-SComm 5cial $0.00 $2,226,715.00 $2,2261715.00!
Project Total $0.00 $2,226,715.00,$2,226,715.00
*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: Freese and Nichols, Inc., is in compliance with the City's Business Equity Ordinance by committing to 11%percent Business
Equity participation on this project.The City's Business Equity goal on this project is 10%.
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 WF Collector PHI TRV Syphon project to support the approval of the above recommendation and award of the contract. 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: Pratima Poudya► 6149
Expedited