Title
Amending the 2018 budgets in the Public Works Streets General Fund and the OFS Fleet Services Fund and approving a City-County Cooperative Agreement.
Body
WHEREAS, the city is mandated to inspect all city owned, county, railroad and DNR bridges under the Federal Bridge Inspection Program; and
WHEREAS, a new bridge inspection vehicle will replace the current bridge inspection vehicle which is past its useful life; and
WHEREAS, Ramsey County shall pay the City a lump sum of $152,637 as set forth in the attached Cooperative agreement (Attachment A), which has been approved as to form by the Office of the City Attorney; and
WHEREAS, Street Maintenance will contribute $87,192 to the purchase; and
WHEREAS, the Fleet Services Fund will use fund balance of $587,486 to fund the remaining balance for the purchase of a new bridge inspection vehicle; and
WHEREAS, proceeds of a 2019 financing will reimburse the Fleet Services Fund, and will be repaid over the term of the financing from the Public Works operating budget; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of St Paul, does certify that there are available for transfer of appropriation funds of $827,315;
NOW THEREFORE BE IT RESOLVED; that the Council of the City of Saint Paul does hereby approve the amendments to the 2018 operating budgets as detailed in the attached financial analysis; and
BE IT FURTHER RESOLVED, that the proper City officials are hereby authorized to execute the attached Cooperative Agreement with Ramsey County; and
BE IT FURTHER RESOLVED, that the City reserves the right to make expenditures and reimburse such expenditures from the proceeds of any obligations issued to finance this purchase. This resolution is intended to constitute a declaration of the City's official intent, for purposes of Section 1.150-2 of the Treasury Regulations, with respect to certain original expenditures made from any sources other than the proceeds of th...
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