Label
DPU120523WATERBONDAMENDMENTS
Utility Administration
Ed Moore (x1845)
Revised
Title
Authorizing the appropriation of $7,237,996 from the Water Bond Improvement Fund for water main replacement expenses; authorizing the disappropriation of $7,237,996 from the Water Replacement Fund; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This Ordinance authorizes the appropriation of Water Bond Improvement Funds for the purpose of recording eligible 2023 water main replacement expenses. These expenses were previously approved through separate legislation (Ordinances 63-18, 58-20, 99-21, 09-22 and 16-23) as expenditures from the Water Replacement Fund for the continuation of the City's systematic, annual water main replacement program. These expenses are eligible to be paid for through bond proceeds. This has been reviewed and approved by Bond Counsel.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the appropriation of $7,237,996 is authorized from the unappropriated balance of the Water Bond Improvement Fund to Account Code 6062-35000-4UB6423STDSTD and the expenditure of same is authorized for the purpose of recording eligible 2023 water main replacement expenses in the Water Bond Improvement Fund.
SECTION 2. That the disappropriation of $7,237,996 is authorized from the Water Replacement Fund from the following Account Codes:
Fund
Funds Center
Functional Area
Amount
6063
35000
4UC0218STDSTD
$ 19,156
6063
35000
4UC0222STDSTD
2,090,582
6063
35000
4UC0320STDSTD
22,580
6063
35000
4UC0321STDSTD
2,364,029
6063
35000
4UC1923STDSTD
2,741,649
SECTION 3. That this Ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage. The reason for the emergency lies in the fact that the same is necessary for the immediate preservation of the public peace, health, safety and propert...
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