The URL can be used to link to this page

Home My WebLink AboutResolution 4469-06-2015 Resolution NO. 4469-06-2015 STATEMENT EXPRESSING OFFICIAL INTENT TO REIMBURSE EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE Water and Sewer Replacement Contract 2011 WSM-F PROJECT 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 Water and Sewer Replacement Contract 2011 WSM-F project as shown on the attached map (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: 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 $3,000,000.00 for the purpose of paying the aggregate costs of the Project. Section 2. All costs to be reimbursed pursuant hereto will be capital t 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. I URT ORT i Resolution No.4469-06-2015 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 91h day of June, 2015. 0.0000000 o ; ATTEST: Q® �¢ 0 ® Q 0 OP B Y: j— "'."�I — 6 kZ1 ------- 0000 Mary 'Ka X` r, Citecretar ,, Y Y r F ORT ORT f o✓ r i 9 9 MAYOR AND COUNCIL COMMUNICATION MAP OB so-S ST '�i All d FORTWORTH l ��l , , I. s i I r i WAM i' i n COMMUNICATION MAYOR AND COUNCIL ,t f r f i '��j +i ++ MISTrLETOE BLVD r W MAGNOLIA AVE W MAGNOLIA AVE p m ,o. i HARRISON AVE l r f�; HARRISON AVE W MORPHY ST o MISTLETOE EDWIN ST �s W � FORTWORTH •u• p}i�iiiiiiigiiiiii�il@iii a WAM c4 j 0 . , �;,; MC LEMORE AVE r / l r / �irna� % rrr � � m U ✓ 116��/�k MAYOR AND COUNCIL COMMUNICATION MAP P ! 1l PLUMWOOD ST MARSHALL / NOBLE AVE ly G-LIS ST FORTWORTH WAM y ,�J ESQ' .v f PITTSBURG PL �^' ' I , TERRANCE 5T 1 r MAYOR AND COUNCIL COMMUNICATION MAP G� r Jarr Cti Dig �,` SPRINGHILL � S CUMBERLAND RD RTWORTH II ii i �rri 1 r WAHR COMMUNICATION MAYOR AND COUNCIL fo LL Cif' , G� s� � L �� l L• %r r s C'1 tVOODSTOCK� RD � 'D � u B'RANTS LN�' G� , y s o u � r r i rJ p FORTWORTH n E 0 A J f City , Texas Mayor and Council Comm unication , m�orr i,,ur,,;to/ /u;,n.na,.: / ,Darr. r,,,/mir,:/zrJ/ /.ri ai,,,,:.a / m,q.,✓rr„r<r.✓irc.,lz/r ,eur,rzrr ,;,Jn/o%uu:..l,am,n,,;l,e:v,;, /r/r, ,,,:r/ /u, a. ,zr ,. ,.,,�,,:,�,.,, ;Fr,uli2 ra renrn°r;naar,nnmr-gar COUNCIL ACTION: Approved on 6/9/2015 - Resolution No. 4469-06-2015 / A 1L,//GC,,:.//I,J//f/.,.l c...,d/J//P/(Ul/,�vJ1 OL/!A�/�/IJa"J/OUI;RJ/Idl%I!/IGLJ Id/f///J/.dll/l,:G'?!'i,IJ;/J/,1N//�//////J f2Y////J/,/JG/!J/JJJJ.I/I//fU(dJ)f/%///J;J/d/lJ///UIOA:'✓l/Jl///////J////L//41f/O////J///IJ;/J/,l/J/UJdYI1pIG)/A/1//%///d%//JZ/X/1!/C+J/ul DATE: Tuesday, June 09, 2015 REFERENCE NO.: C-27328 LOG NAME: 6011 WSMF-CONATSER SUBJECT: Authorize Execution of a Contract with Conatser Construction TX, LP, in the Amount of$2,620,310.00 for Water and Sanitary Sewer Replacement Contract No. 2011, WSM-F on Clayton Road, Woodstock Road, Angus Drive, Grace Avenue, Harrison Avenue, W. Morphy Street and True Avenue, Provide for Project Costs and Contingencies for a Project Total in the Amount of$2,753,310.00 and Adopt Reimbursement Resolution (COUNCIL DISTRICT 9) RECOMMENDATION: It is recommended that the City Council: 1. Authorize the execution of a contract with Conatser Construction TX, LP, in the amount of $2,620,310.00 for Water and Sanitary Sewer Replacement Contract No. 2011, WSM-F; and 2. Adopt the attached resolution expressing its official Intent to Reimburse expenditures with proceeds of future debt for the Water and Sewer Replacement Contract No. 2011, WSM-F Project. DISCUSSION: On September 11, 2012, (M&C C-25815) the City Council authorized an Engineering Agreement with APM and Associates, Inc., to prepare the plans and specifications for Water and Sanitary Sewer Replacement Contract No. 2011, WSM-F. This Mayor and Council Communication (M&C) is to authorize a construction contract for the replacement of the deteriorated water and/or sanitary sewer mains as indicated on the following streets: STREET FROM TO SCOPE OF WORK Clayton Road Floyd Drive Rowan Drive water/sewer W. Woodstock Road Rowan Drvie Dayton Road (water/sewer Angus Drive Chickering Road IWayton Road (sewer Marshall Grace Avenue Avenue Race Street water Harrison Avenue Jerome Street E. Dead End wa .. ...ter ;. W. Morphy Street Jerome Street E. Dead End water Logname: 6011 WSMF-CONATSER Page 1 of 4 True Avenue NW 16th Street JFlagstone Drive water/sewer The project was advertised for bid on October 30, 2014 and November 6, 2014 in the Fort Worth Star- Telegram. On December 18, 2014, the following bids were received: _..w.. ... . ..... __ _.....__.. ___, __. - �BiDDEF2 AnnOUNT TIME... __ �Conatser Construction, TX, LP $2,620,310.00� s alendar Y A&M Construction and Utilities, Inc $2,956,620.50 William J Schultz, Inc Circle "C" Construction $3 104,285.00 Jackson Construction LTD $3,202 494.00 M.E. Burns Construction, Inc. ($3,340,615.00 Ark Contracting Services, LLC $3,366,545.00 Atkins Brothers Equipment Co., Inc. $4,760,900.00 In addition to the contract amount, the amount of$54,000.00 (water: $29,500.00; sewer: $24,500.00) is required for construction staking, inspection and material testing and $79,000.00 (water: $47,000.00; sewer: $32,000.00) is provided for project contingencies. Upon approval of this M&C, appropriations for the Water and Sewer Replacement Contract No. 2011, WSM-F, will consist of the following: _ _.. _w.. _..._...__._...___ _ [APM and Associates �$ 220,345.00 �Conatser Construction TX, LP $2,620,310.00 Construction Staking, Project Management, Inspection, Material $ 160,000.00 Testing and Contingencies Total $3,000,655.00 This project is anticipated to be included in a future revenue bond issue for the Water and Sewer Fund. Available cash within the Water and Sewer portfolio and the City's portfolio along with the appropriation authority authorized under the Direct Purchase Note program will be used to provide interim financing for this project until debt is issued. To the extent resources other than the Water and Sewer portfolio are used to provide interim financing, the Water and Sewer Fund will be charged interest that is equivalent to the overall rate of return being earned by the City portfolio (currently approximately one-percent annually). Should the City's portfolio not support the liquidity needed to provide an interim short-term financing source, another funding source will be required, which could mean issuance of securities under the Direct Purchase Note Program or earlier issuance of Water and Sewer revenue bonds than is currently planned. 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. ii In accordance with the provisions of the Financial Management Policy Statements, Staff anticipates presenting revenue-supported debt issuances to the City Council for consideration within the next three years. The Financial Management Services Department is currently working with all departments to ensure that multi-year Capital Improvements Plans are in place. Newly developed and already existing Logname: 6011 WSMF-CONATSER Page 2 of 4 plans, such as the Water Department's current multi-year Capital Improvement Plan, will be presented to City Council for review and adoption. If the City Council adopted plan does not include issuance of debt for this specific project, the project will be funded utilizing pay-as-you go financing sources. If the City Council adopted plan calls for debt issuance, that debt must be issued within approximately three years to provide reimbursement for these expenses. If that does not occur, the costs will no longer be reimbursable by issuing tax-exempt debt and the funding source will have to be made whole through other budgetary methods. Adoption of this resolution does not obligate the City to sell bonds, but preserves the ability to reimburse the City from tax-exempt bond proceeds. Existing Additional Revised Encumbrances Fund ,appropriations Appropriations Appropriations and Balance Expenditures Water Capital Projects $ 135,153.00 $ 0.00 $ 135,153.00 $126,153.00 $ 9,000.00 Fund P253 Sewer Capital Projects $112,192.00 $ 0.00 $ 112,192.00 $103,192.00 $ 9,000.00 Fund P258 2017 Water and Sewer Revenue $ 0.00 $2,753,310.00 $2,753,310.00 $ 0.00 $2,753,310.00 Bonds Capital Project Fund (Total Is 247,345.00 $2,753,310.00 $3,000,655.00 $229,345.00 I$_2,,_7_7_1__,_31_ $2,771,310.00 ...._ _ - -___.. -.._._.. _._. _ - - --_ Construction is anticipated to commence in July 2015. With a contract time of 150 calendar days, the construction is estimated to be complete by the end of January 2016. M/WBE OFFICE - Conatser Construction, TX, LP, is in compliance with the City's BDE Ordinance by committing to eight percent MBE participation and documenting good faith effort. Conatser Construction TX, LP, identified several subcontracting and supplier opportunities. However, the MBE's contacted in the areas identified did not submit the lowest bids. The City's MBE goal on this project is 14 percent. a The project is located in COUNCIL DISTRICT 9, Mapsco 76S and 76W. i FISCAL INFORMATION /CERTIFICATION: t t, i The Financial Management Services Director certifies that appropriations are available as directed by M&C G-18375 in the 2017 Water and Sewer Revenue Bonds Capital Project Fund for transfer from Unspecified Funding to the Water and Sanitary Sewer Replacement Contract No. 2011, WSM-F Project for this contract, as depicted in the table: : r Logname: 6011 WSMF-CONATSER Page 3 of 4 Available Remaining Fund Appropriation Transfer Available Amount Appropriation Amount 2017 Water and Sewer Revenue $62,866,782.06 $2,753,310.00 $60,113,472.06 Bonds Capital Project Fund FUND CENTERS: TO Fund/Account/Centers FROM Fund/Account/Centers P266 485114 601159990100 $2,753,310.00 P266 541200 603170193083 $1,610,710.00 P266 541200 703170193083 $1,088,600.00 P266 511010 603170193080 $4,500.00 P266 531200 603170193084 $8,000.00 P266 531350 603170193084 $2,000.00 P266 531350 603170193085 $15,000.00 P266 511010 703170193080 $3,500.00 P266 531200 703170193084 $8,000.00 P266 531350 703170193084 $1,000.00 P266 531350 703170193085 $12,000.00 CERTIFICATIONS: Submitted for City Manager's Office by_: Fernando Costa (6122) Originating Department Head: John Carman (8246) Additional Information Contact: Roberto Sauceda (2387) i i p Logname: 6011 WSMF-CONATSER Page 4 of 4 rt