Title
AN ORDINANCE CREATING A PUBLIC WORKS FACILITY FUND (455).
Brief Description: The City purchased 5431 Hudson Drive and intends to build a new Public Works Facility on the site, which will house various divisions of the Public Works Department. In order to easily and accurately account for the construction and future bond proceeds and their use, the City is establishing a separate fund.
Body
Legislative History
Res. No. 23-82 Authorized the Purchase of 5431 Hudson Dr.
Ord. No. 23-116 Authorizing the Sale of $1,900,000 in Notes
Purpose & Explanation
The purpose of the ordinance is to establish a separate fund to track the construction costs and future bond proceeds.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends establishing the Public Works Facility Fund (455).
Submitted by,
Thomas Sheridan, City Manager
Jeff Knoblauch, Assistant City Manager - Finance Director
Brian Griffith, Director - Management & Budget