Fiscal Note
The proposed resolution amends Traffic Engineering’s 2018 Adopted Capital Budget by increasing authority for the installation of traffic signals at the County Highway V and Morrisonville Road intersection and the County Highway V and River Road intersection in the Village of DeForest. The total cost for the installation is estimated to be $190,000 and will be funded by the Village of DeForest. The Traffic Engineering capital budget includes $114,900 in budget authority (Munis project 45866) for this installation. This amendment increases Traffic Engineering’s 2018 Capital Budget expenditure authority and other government revenue by $75,104.
Revenue from the Village of DeForest for operation and maintenance of the signals will be approximately $1,000 annually. These revenues are included in the adopted 2019 Traffic Engineering operating budget.
Title
Amending the Traffic Engineering 2018 Adopted Capital Budget by increasing authority for installation, operation and maintenance of Traffic Signals at County Highway V & Morrisonville Road intersection and County Highway V & River Road intersection in the Village of DeForest.
Body
WHEREAS, the budget authority currently available in 45866-45-200 is insufficient to pay for these traffic signals ($75,103.57); and
WHEREAS, Traffic Engineering would require an additional $75,103.57 in other government funding budget authority to fund this project, and
WHEREAS, Section 66.0301, Wisconsin Statutes, authorizes cities, villages, towns, counties, and other public agencies to enter into agreements for the receipt or furnishing of services; and
WHEREAS, the Village of DeForest (DeForest) desires that Madison install, operate and maintain traffic signals and street lights at County Highway V & Morrisonville Road intersection and County Highway V & River Road intersection, and
WHEREAS, the City of Madison will install, operate and maintain traffic signals and street lights at County Highway V & Morrisonville Road intersection and County Highway V & River Road intersection with all costs reimbursed to the City of Madison by the Village of DeForest.
NOW, THEREFORE, BE IT RESOLVED that Traffic Engineering’s project 45866-45-200/301 budget is amended to increase it by $ 75,103.57 for the remaining portion for the purchase and installation costs of the Traffic Signals at County Highway V & Morrisonville Road intersection and County Highway V & River Road intersection.
BE IT FURTHER RESOLVED, that the Mayor and other City officials be authorized to execute an agreement with the Village of DeForest for the installation, operation and maintenance of Traffic Signals and Street Lights at County Highway V & Morrisonville Road intersection and County Highway V & River Road intersection.