Minutes 10/15/1991 - Laserfiche WebLink

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October 15, 1991 I concur with the recommendation of the Director o Utilities and request .approval of an appropriation for With your approval of~hi's i~em, the balance in the Pub Capital Improvements F~und ~£11 be $16,269,507. Additionally, in accordance with your direction to readings oh appropriations, I ~recommend your deferral o until the meeting of October 22, 1991." Motion of Mr. ©lemons andseconded by Mr. Epperson following ordinance was ~deferred to the Regular Meeting 22, 1991, and~ by unanrmous~.vote~_ "AN ORDINANCE TO APPROPRIATE $60,000.00 FROM THE P UTILITY CAPITAL IMPROVEMENTS FUND ~OR THE REPLACEM~ STRATEGIC WATER TRANSMISSION CONTROL VALVES.~ 91-350A - Letter from the City Manager recommendi of a resolution approving the five year Capital Improve] for 1991-92 ~hrough 1995=96~ and,a, one year Capital Imp Program for 1991-92. "On September 10¥ ~1991¥ I presented to you for you ation the recommended 1991-1996 Capital Improvement Pla that time, you have held a public hearing and have part a public work session. The plan as Presented is still ] recommendation to you, and I recommend that you adopt tl resolution approving th~CIP. However, as requested, a meeting on October 15 I will present to you several alt scenarios illustrating the effect on other projects if levels of funding are allocated to the schools for impl of their facilities plan. In accordance with your stan. practice, I recommend deferral of ~adQption of the CIP ul October 22, 1991. In addition, on O~tober 15 you Will hold a public a resolution for the issuance of $!0 million in General Bonds which~provides, ~u~ing~.fo~projects contained in While I have included the bond resolution in this overa package~ in accordance with your standard practice, I r~ deferral of action one.this bond resolution until your m. October 22, 1991. The CIP is your plan and I will fully carry out th. that you establish. It ls important to point out once ~ however, the importance of not increasing the debt limi~ that originally recommended-to ~ou. The Municipal Final mission, at their meeting on September 17, recommended City maintain the set~ imposed~limit iof $10 million per General Obligation Bonds, and I strongly concur with th mendation. Even to remain at that level will increase service from approximately $12 million to about $16 mil year by 1996. Without new financial resources, to borr, beyond the~recommended~level would place a severe finan. upon the City. Therefore, I urge once again that any c the recommended~CIP.be in the~nature of substitution of and that you not authorize additionaI debt over $10 mil I will assist you be happy to provide whatever in your decision making." information yo' 119 Public 60,000. lc Utility have two this item the of October BLIC NT OF g adoption ent Plan ovement consider- Since cipated in Y e your rnative arious mentation ard til earing on Obligation he CIP. 1 CIP commend eting of direction gain, beyond ce Com- hat the year of t recom- nnual debt ion per w money ial burden anges in pro3ects need to