HomeMy WebLinkAbout1999-12-15 Ordinance 4602ORDINANCE NO. 4602
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 1999-00 TO
PROVIDE AN ADDITIONAL APPROPRIATION OF $600,000 FOR THE
STANFORD WEST UNDERGROUND EXTENSION CAPITAL PROJECT
NUMBER 9901
WHEREAS, pursuant to the provisions of Section 12 of Article
III of the Charter of the City of Palo Alto, the Council on June 28,
1999 did adopt a budget for fiscal year 1999-00; and
WHEREAS, the Stanford West Underground Extension Capital
Project 9901 was established to fund the electric system rebuilding
and expansion for the construction of the Stanford West Project; and
WHEREAS, the Electric Utility funded $500,000 for fiscal year
1999-00 to cover the cost of the Stanford West Underground Extension
Project; and
WHEREAS, an additional $600,000 will be required to meet the
construction schedule as proposed by the Stanford Management Company
(SMC); anq.
WHEREAS, SMC will reimburse the Electric Utility $480,000 of
the additional cost; and
WHEREAS, City Council authorization is needed to amend the
1999-00 budget as hereinafter set forth.
NOW, THEREFORE, the Council of the City of Palo Alto does
ORDAIN as follows:
SECTION J. The sum of Six Hundred Thousand Dollars ($600,000)
is hereby appropriated to Capital Improvement Project Number 9901,
Stanford West Underground Extension.
SECTION 2. Revenue in the Electric Fund is increased by the
surq of $480,000 to reflect reimbursement from Stanford Management
Company for a portion of the work.
SECTION 3. The remaining funding will come from the Electric
Distribution Rate Stabilization Reserve, which is hereby decreased
by $120,000.
SECTION
Distribution
$6,459,455.
4. This transaction will
Rate Stabilization Reserve
reduce
from
the Electric
$6,579,455 to
SECTION 5. As specified in Section 2.28.080(a) of the Palo
Alto Municipal Code, a two-thirds vote of the City Council is
required to adopt this ordinance.
SECTION 6. The underground extension project itself is exempt
from the provisions of the California Environmental Quality Act
(CEQA). However, this project is being done in furtherance of the
Stanford Sand Hill Corridor projects, for which the City Council
certified an Environmental Impact Report on June 30, 1997.
SECTION 7. As provided in Section 2.04.350 of the Palo Alto
Municipal Code, this ordinance shall become effective upon adoption.
INTRODUCED AND PASSED: December 14, 1999
AYES: EAKINS, FAZZINO, KNISS, ROSENBAUM, SCHNEIDER, WHEELER
NOES:
ABSTENTIONS:
ABSENT: HUBER, MOSSAR, OJAKIAN
ATTEST:
~~,~ City Clerk
APPROVED AS TO FORM:
~tJ,,~
eniorAsst. City Attorney
'nils DOCtJMeNT IS CERTIFIED TO BE AN
ORDlNtmCE DULV PASSED BY THE COUNCIL
OF err'! OF PALO ALTO AND
THEilEJ\i,(npO~N THE COU~IL
CHfli'"li::iW ON, C 'Sj t99 (WITHIN HI
DAVS 0:: ITS PASSAGE)
"I certify (or dl::cI2lre) under penalty
oi perjury th'.ll the foregoing is true
flnd c:rect:'Po-t, ~ }UVA",f,4".J naJJoJI't('}rb.. " _ ~ . Signature