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Home My WebLink AboutResolution 5821-10-2023 A Resolution NO. 5821-10-2023 STATEMENT EXPRESSING OFFICIAL INTENT TO REIMBURSE EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE BRYANT IRVIN WESTSIDE II / SOUTHSIDE II PRESSURE PLAIN TRANSFER PHASE 1-3 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 Westside II / Southside II Pressure Plain Transfer Phase 1-3 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 $1,800,000.00 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 thisl7th day of October 2023. ATTEST: By' --------------------------------- 4d444U�� a FoRr a Jannette S. Goodall, City Secretary a *O0°000°0c� aA XY O00 00 G�Y O h o o%A 0, Pao o=d 000 ° Y 0 00000000 c� MAYOR AND COUNCIL COMMUNICATION MAP 60BRYIRVINWS2ANDSS2-FNI q IL IN ' CONNECT TO 30" � .� ,� a ---�'' ��Ft°P ` ►" OQP WESTRIDGE WL PHASE 2 ` t°` P60G�� M J1i (by Others) <Zy�, fz RI V ' `� HoII q °� [ > t� y Pressure Plane Off ; .,�" es►''''' 4 (1a r CLEARFORK4MAINST Wetslde2 ?�� ` } ' TRINITY RIVER F PressurePlane" � ''' ORK "PAR ' " PRF A<� PHASE 1 PROPOSED 30-IN V, N WATER MAIN p JSANiROCENDOSTa o ' Southside 2 4 ,; �� Z # Pressure Plane z Q- > w PHASE 3 Z w ARBORLAWN DR "I�.... �� BENT ELM 00 S� o WATERLINEWit 4 }y GRE OLD i WOi�� `� � COUNTRY DAYLN City of Fort Worth, Texas Mayor and Council Communication DATE: 10/17/23 M&C FILE NUMBER: M&C 23-0867 LOG NAME: 60BRYIRVINWS2&SS2-FNI SUBJECT (CD 3 and CD 6)Authorize Execution of an Engineering Agreement with Freese and Nichols, Inc.in the Amount of$910,195.00 for the Bryant Irvin Westside II/Southside II Pressure Plane Transfer Project,Adopt Resolution Expressing Official Intent to Reimburse Expenditures and Proceeds of Future Debt Project and Adopt Appropriation Ordinance to Effect a Portion of Water's Contribution to Fiscal Years 2024-2028 Capital Improvement Program RECOMMENDATION: It is recommended that the City Council: 1. Authorize execution of an engineering agreement with Freese and Nichols, Inc. in the amount of$910,195.00 for Bryant Irvin Westside II/Southside II Pressure Plane Transfer Project; 2. Adopt the attached resolution expressing Official Intent to Reimburse expenditures with proceeds of future enterprise fund debt for the Bryant Irvin Westside II/Southside 11 Pressure Plane Transfer project;and 3. Adopt the attached appropriation ordinance adjusting appropriations in the Water& Sewer Commercial Paper Fund by increasing appropriations in the Bryant Irvin Westside II/Southside II Pressure Plane Transfer project(City Project No. 104881) in the amount of $1,469,865.00 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 2024-2028 Capital Improvement Program. DISCUSSION: In order to provide improved water reliability and delivery in the Southside II(SS2)pressure plane area,it is necessary to install a water main that would allow the transfer of potable water from the Westside II(WS2)pressure plane to the SS2 pressure plane. This Mayor and Council Communication(M&C)is to authorize the preparation of plans and specifications for water main installation on the following streets and easement to allow for construction of the project. Street I From I To Westridge Aven lWestridge Lane JIVickery Boulevard Vickery Boulev 1westridge Avenue 11Bryant Irving Road Bryant Irving Road Vickery Road/Bryant Arborlawn Drive Irving Road Intersection Bryant Irving Road/ Arborlawn Drive/ Arborlawn Drive Arborlawn Drive Chisholm Trail Parkway Intersection Intersection Easement West of Arborlawn Drive/ Chisholm Trail Chisholm Trail Parkway South 1,200 feet Parkway Intersection In addition to the contract amount,$559,670.00 is required for project management,real property acquisitions,utility coordination,and material testing.This project will have no impact on the Water Department's operating budget when completed. 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. 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 2024-2028 Capital Improvement Program,as follows: 60BRYIRVINWS2&SS2-FNI Capital Revised Project FY2024 CIP Budget Change Fund Name Appropriations Authority Increase/Decrease) FY2024 Name Budget Fund 104881 56022- B. Irvin W&S WSII/SSII $0.00 This M&C $1,469,865.00 $1,469,865.00 Commercial PPT P1- Paper 3 Funding is budgeted W&S Commercial Paper project within the W&S Commercial Paper Fund for the purpose of funding the B. Irvin WSII/SSII PPT P.1-3 Project. Funding for the Bryant Irvin Westside II/Southside II Pressure Plane Transfer project depicted below: Fund Existing Additional Project Total* Appropriations Appropriations Fund 56022-W&S $0.00 $1,469,865.00 $1,469,865.00 Commercial Paper Project Total $0.§1 $1,469,865.00 $1,469,865.00 *Numbers rounded for presentation purposes. BUSINESS EQUITY OFFICE: Freese and Nichols, Inc. is in compliance with the City's Business Equity Ordinance by committing to 17 percent MWBE participation on this project.The City's MWBE goal on this project is 10 percent. The project is located in COUNCIL DISTRICT 3 and 6. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that funds are available in the W&S Commercial Paper 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 B. Irvin WSII/SSII PPT P.1-3 project to support the above recommendations and execution of the agreement. 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: Preeti KC 5467 Expedited