Fiscal Note
The proposed resolution seeks to appropriate funds to install traffic signals and street lighting equipment for the Fish Hatchery Road reconstruction project (project #12787). The anticipated cost for this portion of the project is $613,000 and will be funded by the City of Fitchburg.
Title
Amending Traffic Engineering's 2020 Adopted Capital Budget by appropriating $613,000 for the Fish Hatchery Road Reconstruction project to be funded by the City of Fitchburg.
Body
WHEREAS, the budget authority available in Traffic Engineering’s 2020 Capital budget is insufficient to pay for the purchase of this equipment and labor; and
WHEREAS, Traffic Engineering would require a deposit from the City of Fitchburg to the amount of $613,000.00 to fund the purchase of materials and labor for this project;
WHEREAS, Traffic Engineering will notify the City of Fitchburg if it becomes apparent that the initial deposit collected is not sufficient to complete the project and further deposits would be required; and
WHEREAS, upon completion of the project, any amount of the deposit not used would be returned to the City of Fitchburg,
NOW, THEREFORE, BE IT RESOLVED that Traffic Engineering’s 2020 Capital Budget is amended to appropriation $613,000 in the Fish Hatchery Road Reconstruction project funded by the City of Fitchburg.