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Home My WebLink AboutResolution 5597-08-2022 A Resolution NO. 5597-08-2022 STATEMENT EXPRESSING OFFICIAL INTENT TO REIMBURSE EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE M-210 MOCKINGBIRD COLONIAL COUNTRY CLUB 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 M-210 Mockingbird Colonial Country Club 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 $7,200,000.00 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 23`d day of August2022. FORT ATTEST: �' �� By; -Jan nette S,Goodall(Aug 24,2022 16:30 CDT) ! Jannette S. Goodall, City Secretary �XAs MAYOR AND COUNCIL COMMUNICATION MAP 60M210P5-CIRCLEC r #� Vol ,COLONIAL' COUNTRY " r CLULu B r PAF?F{ WILL UFt• � y ' $ •" � +- 0 y L[I J .- M7. ri �• .. , 41 .311 � ,f N [, JJAOCKINGSIRCcl ANN'ARBOR CT `r rt Lu ci UJ F � - ry 4 .' # � �. . { l r! r06 � •r4 �•r J �i �, a �� 1 ! F FORT NORTH ;* . ,. - 3 . ` T � f O i City of Fort Worth, Texas Mayor and Council Communication DATE: 08/23/22 M&C FILE NUMBER: M&C 22-0650 LOG NAME: 60M21OP5-CIRCLEC SUBJECT (CD 3)Authorize Execution of a Contract with William J Schultz,Inc.dba Circle C Construction Company, in the Amount of$5,462,235.00 for the M-210 Mockingbird Colonial Country Club Project,Adopt Resolution Expressing Official Intent to Reimburse Expenditures with Proceeds of Future Debt,and Adopt Appropriation Ordinances to Effect a Portion of Water's Contribution to the Fiscal Years 2022-2026 Capital Improvement Program RECOMMENDATION: It is recommended that the City Council: 1. Authorize execution of a contract with William J Schultz, Inc.dba Circle C Construction Company, in the amount of$5,462,235.00 for the M- 210 Mockingbird Colonial Country Club project; 2. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds from future debt for M-210 Mockingbird Colonial Country Club project; 3. Adopt the attached appropriation ordinance adjusting appropriations in the Water&Sewer Commercial Paper Fund by increasing appropriations in the M-210 Mockingbird Colonial Country Club project(City Project No.103389)in the amount of$5,553,322.00 and decreasing appropriations in the W&S Commercial Paper project(City Project No. UCMLPR)by the same amount to Effect a Portion of Water's Contribution to the Fiscal Years 2022-2026 Capital Improvement Program; 4. Adopt the attached appropriation ordinance adjusting estimated receipts and appropriations in the General Capital Projects Fund,by increasing estimated receipts and appropriations in the M-210 Mockingbird Colonial Country Club project(City Project No. 103389)in the amount of$539,672.00,and decreasing estimated receipts and appropriations in the Contract Street Maintenance programmable project (City Project No. P00020)by the same amount;and 5. Amend TPWs Contribution to the Fiscal Years 2022-2026 Capital Improvement Program. DISCUSSION: This Mayor and Council Communication(M&C)is to authorize a contract for the replacement of deteriorated water and/or sanitary sewer mains for M-210 Mockingbird Colonial Country Club(Clear Fork Drainage Basin M-210 Sanitary Sewer Improvements,Part 5)in the vicinity of Colonial Country Club as indicated on the following streets: Street From To Scope of Work Mockingbird Simondale Drive/Mockingbird Westerly Water/Sewer Lane Lane intersection II 1,650 feet Mockingbird Mockingbird Lane Cul-de-Sac Water/Sewer Court Hartwood Mockingbird Lane Southerly Water Drive 160 feet Additionally,asphalt pavement rehabilitation will be conducted on streets subsequent to the water and sanitary sewer main replacement.The Transportation&Public Works Department's share of this contract is$452,175.00 and the Water Department's share of the contract is $5,010,060.00. The project was advertised for bids on March 17,2022,and March 24,2022,in the Fort Worth Star-Telegram.On May 5,2022,the following bids were received: Bidder Amount Time of Completion William J Schultz,Inc.dba Circle C Construction $5,462,235.00 380 Calendar Company Days S.J.Louis Construction of Texas, LTD $7,902,615.17 In addition to the contract amount,$335,038.00(Water:$102,578.00;Sewer:$190,181.00; Paving:$42,279.00)is required for project management,material testing and inspection,and$295,721.00(Water:$75,731.00;Sewer:$174,772.00; Paving:$45,218.00)is provided for project contingencies.The sanitary sewer component of this project is part of the Water Department's Sanitary Sewer Overflow Initiative Program. Additionally, approximately 2,017 linear feet of cast iron water pipe will be removed and replaced as part of this project. Construction is anticipated to begin in October 2022 and be completed by November 2023. This project will have no impact on the Transportation&Public Works'or the Water Department's operating budgets when completed. The action in this M&C will amend TPWs contribution to the Fiscal Years 2022-2026 Capital Improvement Program as approved in connection with Ordinance 25073-09-2021,Section 6.Capital Improvements,page 23,as follows: Capital Revised Project FY2022 CIP FY2022 CIP Fund Authority FY2022 Name Name Appropriations Appropriations 9 Bud et P00020 30100- Contract $20,441,000.00 M&C 21- $(1,056,034.00) $19,390,966.00 General Street 0827 Maintenance 22- $(311,148.00) $19,079,818.00 003 0036 M&C 22- $(603,254.00) $18,476,564.00 �101 27 This M&C $(539,672.00) $17,936,892.00 It is the practice of the Water Department to appropriate its CIP plan throughout the fiscal year,instead of within the annual budget ordinance,as projects commence,additional funding needs are identified,and to comply with bond covenants.The actions in the M&C will appropriate funds in support of the Water's portion of the City of Fort Worth's Fiscal Years 2022-2026 Capital Improvement Program,as follows: Capital BudgetRevised Project FY2022 CIP Change Fund Authority FY2022 Name Name Appropriations (Increase/ Budget Decrease) g 56021 — 103389— W&S M-210 $0.00 This M&C $5,553,322.00$5,553,322.00 Commercial Mockingbird Paper Fund Colonial CC Funding is budgeted in the UCMLPR project within the W&S Commercial Paper Fund and the General Capital Projects Fund for the purpose of funding the M-210 Mockingbird Colonial Country Club project. Appropriations for the M-210, Part 5 Sanitary Sewer Improvements project are as depicted below: Existing Additional Fund Appropriations Appropriations Project Total* W&S Commercial $0.00 $5,553,322.00 $5,553,322.00 Paper Fund- 56021 General Capital $0.00 $539,672.00 $539,672.00 Projects Fund 30100 Project Total $0.00 $6,092,994.00 $6,092,994.00 *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 to reimburse itself from tax-exempt bond proceeds. Business Equity: William J.Schultz,Inc.dba Circle C Construction Company,its in compliance with the City's Business Equity Ordinance by committing to eight percent Business Equity participation and documenting good faith effort.William J.Schultz, Inc.dba Circle C Construction Company, Inc.identified several subcontracting and supplier opportunities.However,the firms contacted in the areas identified did not respond or did not submit the lowest bids.The City's Business Equity goal for this project is 17 percent. The project is located in COUNCIL DISTRICT 3. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that funds are available in the UCMLPR project within the W&S Commercial Paper Fund and the General Capital Projects Fund,and upon approval of the above recommendations and adoption of the attached appropriation ordinances,funds will be available in the W&S Commercial Paper Fund and the General Capital Projects Fund for the M-210 Mockingbird Colonial CC project to support the approval of the above recommendations and execution of the contract.Prior to any expenditure being incurred,the Water and Transportation&Public Works Departments have the responsibility of verifying the availability of funds. Submitted for City Manager's Office b�L. Dana Burghdoff 8018 Originating Business Unit Head: Chris Harder 5020 Additional Information Contact: Liam Conlon 6824