Title
Amending the 2024 Operating Budget financing and spending plans in the Department of Public Works Solid Waste and Recycling 2024 special fund, to make planned investments in solid waste services collection vehicles.
Body
WHEREAS, the City of Saint Paul has increased investment in the Solid Waste and Recycling program since 2022, and intends to begin 10% solid waste collection in April of 2025; and
WHEREAS, Public Works engaged a consultant to conduct an assessment of trash collection in the city and to prepare cost estimates, plans and specifications for the needed work; and
WHEREAS, Public Works estimates the total cost to the Recycling and Solid Waste Fund for the 5 solid waste collection vehicles to be $2,100,000; and
WHEREAS, Public Works proposes to finance the project through the use of a $1,100,000 interdepartmental loan, to be repaid over seven years with interest; as well as $1,000,000 in fund equity from the Recycling and Solid Waste Fund, and
WHEREAS, the 2024 Operating Budget needs to be amended to provide spending and financing for the solid waste collection vehicles; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation, funds of $2,100,000 in excess of those estimated in the 2024 Budget; now
THEREFORE BE IT RESOLVED, that the 2024 Operating Budget, as heretofore adopted by the City Council, is hereby further amended in the particulars as indicated in the attached Financial Analysis, to finance the proposed Recycling and Solid Waste Fund - solid waste collection vehicles.
FURTHER RESOLVED, that the Council of the City of Saint Paul hereby approves the attached Record of Internal Loan, and authorizes the Director, Office of Financial Services and the Director of Public Works to execute the agreement.