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HomeMy WebLinkAbout07618ORDINANCE NO. 7618 AN ORDINANCE ESTABLISHING CAPITAL PROJECT NO. CP0711 — FY 2007 EIGHTH STREET BRIDGE RAILING REPAIR AND BUDGETING AND APPROPRIATING $50,000 FROM THE GENERAL FUND RESERVES AND TRANSFERRING SAID AMOUNT INTO CAPITAL PROJECT NO. CP0711 WHEREAS, on April 6, 2007 an automobile accident occurred which damaged the railing on the south side of the Eighth Street bridge, and; WHEREAS, the individual responsible for the damages insurance company, State Farm Insurance Company, has provided the City with a promissory letter committing to pay for the cost of repairs up to $50,000, and; WHEREAS, the City will solicit competitive bids to perform the repairs and will award the contract by resolution to the lowest and most responsive bidder submitting a proposal; BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $50,000 shall be transferred from the General Fund Reserves into Capital Project No. CP0711 — FY 2007 EIGHTH STREET BRIDGE RAILING REPAIR. SECTION 2. Once proposals have been received, the contract has been awarded by resolution, and the repairs have been completed and accepted, State Farm Insurance Company will reimburse the City of Pueblo for the cost of the repairs up to $50,000. This reimbursement money will be deposited into the General Fund Reserves. INTRODUCED June 25, 2007 APPROVED: a ESID NT%J City Council ATTESTED BY: CITY CLERK BY Larry Atencio Councilperson PASSED AND APPROVED: July 9, 2007 0a, - 76 ( 9 Background Paper for Proposed ORDINANCE AGENDA ITEM #mod DATE: JUNE 25, 2007 DEPARTMENT: PUBLIC WORKS DIRECTOR — DANIEL E. CENTA, P.E. TITLE AN ORDINANCE ESTABLISHING CAPITAL PROJECT NO. CP0711 - FY 2007 EIGHTH STREET BRIDGE RAILING REPAIR AND BUDGETING AND APPROPRIATING $50,000 FROM THE GENERAL FUND RESERVES AND TRANSFERRING SAID AMOUNT INTO CAPITAL PROJECT NO. CP0711 ISSUE Should City Council authorize the use of funds in the amount of $50,000 to establish a new capital project to repair the railing on the 8 Street Bridge. RECOMMENDATION Approval of this Ordinance. BACKGROUND This project will provide for the repairs to the 8` Street Bridge railing that was damaged in an automobile accident that occurred on April 6, 2007. FINANCIAL IMPACT This project will initially be funded from the General Fund Reserves, but upon completion of the work, will be reimbursed from the responsible party's insurance company. (See attached letter from State Farm Insurance Company dated June 14, 2007.