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HomeMy WebLinkAboutR-11210 authorizing use of Sewer Fund Unassigned Working Capital for the Jeffrey Sewer and Water Replacement ProjectR 11210 RESOLUTION NO. 11210 (2021 SERIES) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS OBISPO, CALIFORNIA, AUTHORIZING USE OF SEWER FUND UNASSIGNED WORKING CAPITAL TO SUPPORT SEWER REPLACEMENT WORK FOR JEFFREY SEWER AND WATER REPLACEMENT, SPECIFICATION NO. 1000090 WHEREAS, the City adopted the Wastewater Collection System Infrastructure Renewal Strategy on January 19, 2016 which identified areas in the wastewater collection system that are recommended for infrastructure improvements; and WHEREAS, in June of 2019, the City Council approved 2019-21 Financial Plan – Capital Improvement Program, which identified the Jeffrey Sewer and Water Replacement (Project) with a total budget of $1,320,000; and WHEREAS, to ensure adequate funding to support sewer replacement work for the Project, staff is recommending the City Council approve use of $300,000 from Sewer Fund, Unassigned Working Capital; and WHEREAS, a balance of approximately $30 million is available from Sewer Fund, Unassigned Working Capital to fund the Project. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis Obispo as follows: Resolution No. 11210 (2021 Series) Page 2 R 11210 SECTION 1. The City Council authorizes staff to transfer $300,000 from the Sewer Fund, Unassigned Working Capital to the Jeffrey Sewer and Water Replacement, Specification No. 1000090, for sewer related improvements as it is a high priority City project. Upon motion of Council Member Christianson, seconded by Council Member Pease, and on the following roll call vote: AYES: Council Member Christianson, Marx, Pease, Vice Mayor Stewart, and Mayor Harmon NOES: None ABSENT: None The foregoing resolution was adopted this 19th day of January 2021. ____________________________________ Mayor Heidi Harmon ATTEST: ____________________________________ Teresa Purrington City Clerk APPROVED AS TO FORM: _____________________________________ J. Christine Dietrick City Attorney IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of San Luis Obispo, California, on ___________________________. ____________________________________ Teresa Purrington City Clerk