HomeMy WebLinkAbout15776RESOLUTION NO. 15776
A RESOLUTION ESTABLISHING PROJECT ACCOUNT CI2450 -
FEASIBILITY CITY ELECTRIC UTILITY, TRANSFERRING
BUDGETED AND APPROPRIATED FUNDS IN THE AMOUNT
OF $35,525.16 FROM PROJECT CI2012 - ENERGY ADVOCACY
PROJECT TO PROJECT CI2450 - FEASIBILITY CITY ELECTRIC
UTILITY AND TRANSFERRING FUNDS IN THE AMOUNT OF
$150,000.00 FROM PUBLIC WORKS CONTRACT SERVICES
10140103-53003 TO PROJECT CI2450 - FEASIBILITY CITY
ELECTRIC UTILITY
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that
SECTION 1.
Project CI2450, Feasibility City Electric Utility, is hereby established.
SECTION 2.
Previously budgeted and appropriated funds in the amount of $35,525.16 are hereby
transferred from project account CI2012 - Energy Advocacy Project into account Project
CI2450, Feasibility City Electric Utility.
SECTION 3.
Funds in the amount of $150,000.00 are hereby transferred from Public Works Contract
Services 10140103-53003 to Project CI2450, Feasibility City Electric Utility.
SECTION 4.
The officers of the City are authorized to perform any and all acts consistent with this
Resolution to implement the policies and procedures described herein.
SECTION 5.
This Resolution shall become effective immediately upon passage and approval.
INTRODUCED: September 23, 2024
BY: Regina Maestri
MEMBER OF CITY COUNCIL
APPROVED: __________________________
PRESIDENT OF CITY COUNCIL
ATTESTED BY: ________________________
CITY CLERK
City Clerk's Office Item # M23
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: September 23, 2024
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Marisa Stoller, City Clerk
FROM: Andrew Hayes, Public Works Director
SUBJECT: A RESOLUTION ESTABLISHING PROJECT ACCOUNT CI2450 -
FEASIBILITY CITY ELECTRIC UTILITY, TRANSFERRING BUDGETED
AND APPROPRIATED FUNDS IN THE AMOUNT OF $35,525.16 FROM
PROJECT CI2012 - ENERGY ADVOCACY PROJECT TO PROJECT
CI2450 - FEASIBILITY CITY ELECTRIC UTILITY AND TRANSFERRING
FUNDS IN THE AMOUNT OF $150,000.00 FROM PUBLIC WORKS
CONTRACT SERVICES 10140103-53003 TO PROJECT CI2450 -
FEASIBILITY CITY ELECTRIC UTILITY
SUMMARY:
This Resolution directs that a new Project Account, CI2450 - Feasibility City Electric
Utility, be established and that funds in Project Account CI2012 - Energy Advocacy
Project and funds from Public Works Contract Services be transferred from that
account into the newly-established account.
PREVIOUS COUNCIL ACTION:
None.
BACKGROUND:
In July, Black Hills announced its intention to raise electric rates within its service area
in Colorado and filed its proposed rate increase filing with the Public Utilities
Commission. Customers in Black Hills' service area already pay among the highest
rates in the state and the proposed rates represent an increase of 18-20% for
residential, commercial, and government customers. Funds budgeted and appropriated
into project account CI2450 will be used to complete a feasibility study investigating
alternatives associated with municipalization of electric utility assets including
transmission, distribution, and generation assets in the Black Hills service area.
FINANCIAL IMPLICATIONS:
Previously budgeted and appropriated funds in the amount of $35,525.16 will be
transferred from Project CI2012, Energy Advocacy Project to Project CI2450 -
Feasibility City Electric Utility.
Funds in the amount of $150,000.00 will be transferred from Public Works Contract
Services 10140103-53003 to Project CI2450 - Feasibility City Electric Utility.
BOARD/COMMISSION RECOMMENDATION:
None.
STAKEHOLDER PROCESS:
None.
ALTERNATIVES:
Currently, there are no alternatives for completing the feasibility study without the
funding.
RECOMMENDATION:
Approve the Resolution.
ATTACHMENTS:
None