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HomeMy WebLinkAbout10349ORDINANCE NO. 10349 AN ORDINANCE BUDGETING AND APPROPRIATING INSURANCE PROCEEDS IN THE AMOUNT OF $148,338.77 INTO PROJECT SWAN01 EQUIPMENT PURCHASES STORMWATER WHEREAS, in June 2022, equipment 272-116, Stormwater Department’s excavator sustained major damage when it became stuck and submerged in Lake Minnequa rendering it inoperable for use; and, WHEREAS, the City has received proceeds from the insurance company for the cost to replace the equipment; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Project No. SWAN01 Equipment Purchases Stormwater is already established for equipment purchases. SECTION 2. Insurance proceeds in the amount of $148,338.77 shall be budgeted and appropriated into Project SWAN01 Equipment Purchases Stormwater and will be used to replace the damaged Stormwater Department’s excavator. SECTION 3. The officers and staff of the City are authorized to perform any and all acts consistent with this Ordinance to implement the policies and procedures described herein. SECTION 4. This Ordinance shall become effective on the date of final action by the Mayor and City Council. Action by City Council: Introduced and initial adoption of Ordinance by City Council on November 28, 2022. Final adoption of Ordinance by City Council on December 12, 2022 . President of City Council Action by the Mayor: ☒ Approved on December 19, 2022 . □ Disapproved on based on the following objections: Mayor Action by City Council After Disapproval by the Mayor: □ Council did not act to override the Mayor's veto. □ Ordinance re-adopted on a vote of , on □ Council action on _______ failed to override the Mayor’s veto. President of City Council ATTEST City Clerk City Clerk's Office Item # R1 Background Paper for Proposed Ordinance COUNCIL MEETING DATE: November 28, 2022 TO: President Heather Graham and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Marisa Stoller, City Clerk FROM: Andrew Hayes, Public Works Director SUBJECT: AN ORDINANCE BUDGETING AND APPROPRIATING INSURANCE PROCEEDS IN THE AMOUNT OF $148,338.77 INTO PROJECT SWAN01 EQUIPMENT PURCHASES STORMWATER SUMMARY: This Ordinance budgets and appropriates insurance proceeds in the amount of $148,338.77 for the replacement of the Stormwater Department’s excavator that was damaged beyond repair when it became stuck and submerged in Lake Minnequa while performing routine maintenance operations. PREVIOUS COUNCIL ACTION: None. BACKGROUND: In June 2022, equipment 272-116 sustained major damage in an incident causing the Stormwater Department’s excavator to become stuck and submerged in Lake Minnequa which rendered the equipment inoperable for use. Resolution of the City’s insurance claim provides for payment by the insurance company for replacement costs. FINANCIAL IMPLICATIONS: The Stormwater Department will be responsible for the replacement of equipment 272- 116, Stormwater Department’s excavator. Insurance proceeds in the amount of $148,338.77 have already been received by the City. BOARD/COMMISSION RECOMMENDATION: Not applicable to this Ordinance. STAKEHOLDER PROCESS: Not applicable to this Ordinance. ALTERNATIVES: Alternatives No. 1 – No action Should this Ordinance not pass, the Stormwater Department would have to make up the $148,338.77 received through the insurance settlement to replace the damaged Stormwater Department’s excavator. RECOMMENDATION: Approval of the Ordinance. ATTACHMENTS: None