Fiscal Note
This resolution amends the Metro Transit 2008 Capital budget by transferring $95,440 of General Obligation debt borrowing authority from Project 3 "Bus Vacuum System" & Project 4 "Transit system upgrades" to Project 1 "Transit Coaches." No appropriation is required, nor is any impact upon cost controls anticipated.
Title
Amending the 2008 Capital budget to transfer $477,200. from Transit System Upgrades and the Bus Vacuum System to Transit Coaches.
Body
PREAMBLE
$6,443,800. was authorized for the purchase of 22 Transit coaches in 2008. After review of the RFP proposals, an unexpected increase in the cost of each Transit coach was encountered. The contracted cost for the 22 coaches in 2008 will be $6,921,000.
WHEREAS, the Forecast Software project, the Trapeze IVR Software project, and the Bus Vacuum project can be delayed and added to the 2009 Capital Budget,
NOW, THEREFORE, BE IT RESOLVED, that the Transit System 2008 Capital budget be amended to transfer $350,000. from Transit System Upgrades and $127,200. from the Bus Vacuum System to add $477,200 to Transit Coaches.