Fiscal Note
The proposed resolution amends the 2022 Engineering-Major Streets and Engineering-Bicycle & Pedestrian Capital Budgets by authorizing a net-neutral transfer of existing budget authority across various project and program budgets. The proposed resolution transfers budget authority: from W Towne Gammon Underpass (10168) to Sidewalks District 5 (13720); from Gammon Rd, South (11130) to Resurfacing 2022 (13703); and from Martin Luther King Jr Blvd (11164) and Gammon Rd, South (11130) to Cedar St: Fish Hatchery to South St (13062). These transfers allow excess borrowed GO in completed projects subject to arbitrage to be moved to current projects that have sufficient spending. This enables the City to reduce new borrowing requests.
1) Transfer unspent borrowed GO from W Towne Path Gammon Underpass to Sidewalks District 5
(1,107,070.32) 10168-403-172
(1,107,070.32) 10168-403-801
1,107,070.32 13720-403-200
1,107,070.32 13720-403-802
2) Transfer unspent borrowed GO from Gammon Rd, South to Resurfacing 2022
(430,000) 11130-402-170
(430,000) 11130-402-801
430,000 13703-402-170
430,000 13703-402-801
3) Transfer unspent borrowed GO from Martin Luther King Jr Blvd & Gammon Rd, South to Cedar: Fish Hatchery to South St
(37,145.91) 11164-402-170
(37,145.91) 11164-402-801
(232,030.62) 11130-402-170
(232,030.62) 11130-402-801
269,176.53 13062-402-170
269,176.53 13062-402-801
Title
Amending the 2022 Engineering-Major Streets and Engineering-Bicycle & Pedestrian Capital Budgets to transfer existing GO budget authority between various major projects and programs in order to comply with arbitrage requirements under federal tax law. (Citywide)
Body
WHEREAS, the West Towne Path Gammon Underpass, Gammon Road, South and Martin Luther King Jr Blvd projects a...
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