Minutes 06/27/2006 - Laserfiche WebLink

Home Browse Search

June 27.2006 Discussion: . $1,302,500 from the nTelos legal settlement proceeds will be used to provide the funding in the General Fund to pay for the additional expenditures resulting from risk management charges totaling $1,200,000 and various legal fees totaling $102,500. Council Action: Adoption of an ordinance to amend the City's FY 2005-2006 General Fund Operating Budget to increase estimated revenues and expenditures by the sum of $1,302,500 to provide for additional risk management charges and the payment of legal fees. Vision Principle: A Robust and Prospering Economy. Next Steps Following Council Action: . The Chief Financial Officer will ensure that the budget action needed to increase the total appropriations in the General Fund by $1,302,500 is processed immediately upon adoption of the ordinance. Motion by Mr. Whitehurst, and seconded by Mr. Moody, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE TO AMEND THE CITY'S FY 2005-2006 GENERAL FUND OPERATING BUDGET TO INCREASE THE ESTIMATED REVENUES AND EXPENDITURES BY THE SUM OF $1,302,500 TO PROVIDE FOR ADDITIONAL RISK MANAGEMENT CHARGES AND THE PAYMENT OF LEGAL FEES." Ayes: Moody, Psimas, Randall, Smith, Whitehurst, Holley Nays: None 06 - 292 - Adoption of a resolution authorizing the City Manager to execute a Deed and any other required documents necessary to release the water line easement over, under, and across lot 18 in block 0 on the map of Truxtun. Vision Principle: Neighborhood and Community Transformation. Background: . Benter Homes, on behalf of Mr. Cornelius Long, the owner of this lot, desires to construct a new house on this vacant parcel. . The City has an eight-foot wide utility easement on this property that is in conflict with the proposed use. . At the request of Benter Homes, Public Utilities investigated the area within the easement to determine the existence and location of utilities. . It has been determined that no utilities exist within this portion of easement area and there are no proposed plans to install utilities within this easement. There is no further need for this easement. Discussion: . Financial Impact: The release of this easement will allow for a new house to be built on this parcel. There is no financial impact for the City. Staff Recommends: Adoption of a resolution authorizing the City Manager to execute a Deed and any other required documents necessary to release the water line easement over, under, and across lot 18 in block 0 on the map of Truxtun. Vision Principle: Neighborhood and Community Transformation.