Title
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF BONDS IN THE MAXIMUM PRINCIPAL AMOUNT OF $850,000 FOR THE PURPOSE OF PAYING COSTS OF INSTALLING AND IMPROVING A MULTIPURPOSE TRAIL AND SIDEWALKS IN VARYING WIDTHS ALONG BARLOW ROAD, TOGETHER WITH ALL NECESSARY DRAINAGE AND RELATED IMPROVEMENTS AND APPURTENANCES THERETO.
Brief Description: This ordinance allows for the financing of the sidewalk/trail installation on West Barlow Road from State Route 91 to Nicholson Drive.
Body
Legislative History
Ordinance 21-102 authorized the issuance of notes to temporarily finance the project. This project was included in the 2021-2025 Five Year Plan adopted December 2020.
Purpose & Explanation
The purpose of this Ordinance is to permanently finance the installation of a sidewalk on W. Barlow Rd. from SR 91 to Nicholson Drive.
Legal Authority for Proposed Legislation
Pursuant to Charter Section 6.04, Contracts & Purchasing:
Competitively bid and advertised for two consecutive weeks; bid tab attached: [Yes/No/NA])
Joint or Cooperative Purchase Program
Professional Services
X Other
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required
Does this legislation require use of an emergency clause?
Yes [if so, explain why]
X No
Recommendation
Suggested Action
Staff recommends Council pass this ordinance to allow for timely sale of the bonds.
Submitted by,
Thom Sheridan, City Manager
Jeff Knoblauch, Asst. City Manager/Finance Director