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HomeMy WebLinkAbout09338 ORDINANCE NO. 9338 AN ORDINANCE ESTABLISHING THE PUBLIC POWER PROJECT NO. CI1818 AND TRANSFERRING FUNDS IN THE AMOUNT OF $245.846.41 FROM THE CITY COUNCIL PROFESSIONAL SERVICES ACCOUNT FOR SAID PROJECT BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Project No. CI1818 is hereby established as the Public Power Project. SECTION 2: Funds in the amount of $245,846.41 are hereby authorized to be transferred from the City Council Professional Services account into the Public Power Project No. CI1818. SECTION 3. The officers and staff of the City are authorized and directed to perform any and all acts consistent with the intent of the Ordinance to implement the policies and procedures described herein. SECTION 4. This Ordinance shall become effective immediately upon final passage and approval. INTRODUCED: August 13, 2018 BY: Ed Brown MEMBER OF CITY COUNCIL APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: ACTING CITY CLERK PASSED AND APPROVED: August 27, 2018 City Clerk’s Office Item # R-13 BACKGROUND PAPER FOR PROPOSED ORDINANCE COUNCIL MEETING DATE: August 13, 2018 TO: President Christopher A. Nicoll and Members of City Council CC: Sam Azad, City Manager VIA: Brenda Armijo, Acting City Clerk FROM: John Vigil, Assistant City Manager SUBJECT: AN ORDINANCE ESTABLISHING THE PUBLIC POWER PROJECT NO. CI1818 AND TRANSFERRING FUNDS IN THE AMOUNT OF $245,846.41 FROM THE CITY COUNCIL PROFESSIONAL SERVICES ACCOUNT FOR SAID PROJECT SUMMARY: This Ordinance will establish the Public Power Project, and transfer funds totaling $245,846.41 into the Project. PREVIOUS COUNCIL ACTION: Council approved $250,000 in the 2018 Operating budget via Ordinance #9205 passed November 27, 2017. BACKGROUND: November 27, 2018 City council unanimously approved ordinance #9205 adopting the City’s 2018 operating budget. The budget included $250,000 in the City Council’s professional services account to pay for expenses to evaluate the feasibility of moving away from an investor owned utility and adopting public power. Two independent contractors have been identified to support this effort, but it is likely that their work will extend beyond 2018. Establishing project #CI1818 and transferring the money from the Council’s professional services account to the project will allow these funds to support the evaluation beyond 2018. FINANCIAL IMPLICATIONS: Funds in the amount of $245,846.41 shall be transferred from the City Council’s Professional Services account into the Public Power Project, No. CI1818. BOARD/COMMISSION RECOMMENDATION: None. STAKEHOLDER PROCESS: None. ALTERNATIVES: City Council may choose not to establish this project and transfer funds. RECOMMENDATION: Approve the Ordinance.