Title
Amending the financing and spending plans for the debt service, right-of-way, and capital funds for the 2015 sidewalk quadrant construction projects.
Body
WHEREAS, the Right-of-Way fund includes budget authority for annual maintenance and replacement of sidewalks throughout the City of Saint Paul; and
WHEREAS, additional sidewalk quadrant construction was completed in 2015 to have the newly constructed sidewalks meet the current Americans with Disabilities (ADA) requirements; and
WHEREAS, the additional financing for the sidewalk quadrant construction will be funded through a transfer of fund balance from the city’s debt service fund; and
WHEREAS, the city has recognized unspent Prior Year Street Improvement Bonds (PY SIB) that will be transferred from 2014 PY SIB Contingency to the city’s debt service fund; and
WHEREAS, the Mayor, pursuant to Section 10.07.4 of the Charter of the City of Saint Paul does certify that there are available for transfer of appropriation funds of $350,000; now
THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor, that $350,000 is available for transfer of appropriations in the capital improvement budget and operating budget, as heretofore adopted and amended by this Council, be hereby further amended in the particulars as specified in the attached financial analysis.
CIB Recommendation
The Saint Paul Long-Range Capital Improvement Budget Committee received this request on December 14, 2015 and recommended approval.