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Home My WebLink AboutOrdinance 27362-12-2024Ordinance No. 27362-12-2024 AN ORDINANCE ADJUSTING APPROPRIATIONS IN THE WATER AND SEWER COMMERCIAL PAPER FUND BY DECREASING APPROPRIATIONS IN THE W&S COMMERCIAL PAPER PROJECT (CITY PROJECT NO. UCMLPR) IN THE AMOUNT OF $9,687,036.00 AND INCREASING APPROPRIATIONS IN THE NORTHSIDE III ELEVATED STORAGE TANK PROJECT (CITY PROJECT NO. 104290) BY THE SAME AMOUNT; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That the budget of the City of Fort Worth for Fiscal Year 2024-2025, as enacted by Ordinance 27107-09- 2024, as amended, is hereby further amended to make the following adjustments to appropriations in the Water and Sewer Commercial Paper Fund by decreasing appropriations in the W&S Commercial Paper project (City Project No. UCMLPR) in the amount of $9,687,036.00 and increasing appropriations in the Northside III Elevated Storage Tank project (City Project No. 104290) by the same amount. SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void for any reason by a court of competent j urisdiction, such decision, opinion or judgment shall in no way impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain in full force and effect. SECTION 3. That this ordinance shall be cumulative of Ordinance 27107-09-2024 and all other ordinances and appropriations amending the same except in those instances where the provisions of this ordinance are in direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed. SECTION 4. This ordinance shall take effect upon adoption. APPROVED AS TO FORM AND LEGALITY: CITY SECRETARY 2. 2025 10:49 CST) V Douglas W. Black Senior Assistant City Attorney ADOPTED AND EFFECTIVE: December 10, 2024 Jannette S. Goodall City Secretary MAYOR AND COUNCIL COMMUNICATION 60NSIIIEST-LANDMSI PR �b0 �.�.t K2-r _a.-_...__nn g•_ c. ic't_sww+:r ;lra. d'i - !fin � -, �? , ,�'' n>.=.,. .—�&'�*a �?._. :. _"_..t*l�.o � > . °kiwi ckt W ,T'A" PROPOSED NORTFiSiDE III ELEVATED STORAGE TANK 0 1. _ � 1 • k hp :P b. } G w Li z�' e.•• z j 'ems sy n•, ? F I �� d�rsx�"• P T •�.._,_ FLOWEF2'L'IVa�'.C9 �` �. FORT WORTH f - •-•�-� MEADOWGFt EN City of Fort Worth, Texas Mayor and Council Communication DATE: 12/10/24 M&C FILE NUMBER: M&C 24-1131 LOG NAME: 60NSIIIEST-LANDMSI SUBJECT (CD 10) Authorize Execution of a Contract with Landmark Structures I, LP in the Amount of $8,968,000.00 for Northside III Elevated Storage Tank Project, Provide for Project Costs for a Project Total in the Amount of $9.687,036.00, Adopt Resolution Expressing Official Intent to Reimburse Expenditures with Proceeds of Future Debt, and Adopt Appropriation Ordinance to Effect a Portion of Waters Contribution to the Fiscal Years 2025-2029 Capital Improvement Program RECOMMENDATION: It is recommended that the City Council: 1. Authorize execution of a contract with Landmark Structures I, LP in the amount of $8,968,000.00 for the Northside III Elevated Storage Tank project; 2. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds from future debt for the Northside III Elevated Storage Tank project; and 3. Adopt the attached appropriation ordinance adjusting appropriations in the Water and Sewer Commercial Paper Fund by increasing appropriations in Northside ill Elevated Storage Tank project (City Project No. 104290) in the amount of $9,687,036.00 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 2025-2029 Capital Improvement Program. DISCUSSION: This project provides for the construction of an elevated water storage tank to provide capacity and delivery reliability to customers in the Northside Ill Service area. Construction of the project was advertised for bid on August 29, 2024 and September 3, 2024 in the Fort Worth Star -Telegram. On October 10, 2024, the following bid was received: Bidder Amount Contract Time Landmark Structures I, LP 11 $8,968,000.001 540 Calendar Days In addition to the contract cost, $449,996.00 is required for project management, material testing, inspection, and $269,040.00 is provided for project contingency. This project will have no impact on the Water Department operating budget when complete. Available cash within the Water and Sewer portfolio and the City's portfolio along with the appropriation authority authorized under 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 Capital Improvement Program (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 Mayor and Council Communication will appropriate funds in support of the Water Department's portion of the City of Fort Worth's Fiscal Year 2025-2029 Capital Improvement Program. 60NSIIIEST-LANDMSI Capital Fund Project Name FY2025 CIP Appropriations Authority Budget Change (increase/Decrease) Revised FY2025 Name Bud et 9 E56023-104290- Northside $0.00 This M&C $9,687,036.00 $9,687,036.00 III EST Funding is budgeted in the Commercial Paper Project within the W&S Commercial Paper Fund for the purpose of funding the Northside III Elevated Storage Tank project. Funding for the Northside III Elevated Storage Tank project is depicted below: Fund Existing Appropriations Additional Appropriations Project Total" Water Impact Fee Fund 56003 $502,410.00 $0.00 $502,410.00 W&S Commercial Paper Fund 5B023 $0.00 $9,687,036.00 $9,687,036.00 Project Total $502,410.00 $9,687,036.00 $10,189,446.00' "Numbers rounded for presentation purposes. The Business Equity Division placed a 6.65 percent business equity goal on this solicitation/contract. Landmark Structures 1, L.P., has agreed/committed to utilize 7.37 percent business equity subcontractor participation for the scope of work, meeting the City's Business Equity Ordinance. Any changes in subcontractors will be reviewed by the Business Equity Division. The project is located in COUNCIL DISTRICT 10. FISCAL_ INFORMAMN 1 CERTIFICATION: The Director of Finance certifies that funds are currently available in the 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 Northside III EST project to support the above recommendations and execution of the construction 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 b. William Johnson 5806 Originating Business Unit Hesd: Chris Harder 5020 Additional Information Contact: Scott Taylor 7240