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Home My WebLink About2007-08-06 Ordinance 4963ORDINANCE NO. 4963 ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AMENDING THE BUDGET FOR THE FISCAL YEAR 2007-08 TO PROVIDE AN ADDITIONAL APPROPRIATIOI\I OF $2,934,577 TO CAPITAL IMPROVEMEI\IT PROGRAM (CIP) SD-06l02, SAI\I FRAI\lCISQUITO CREEK STORI'vl WATER PUMP STATIOI\I The Council of the City of Palo Alto does ordain as follows: SECTIOI\I 1. TI1e Council of tl1e City of Palo Alto finds and determines as follows: ___ u ___ ~~_- ______ ,A. P1Irsllant-toibe-p-rm.dsiooS-Of-Section--12 of Article III of the Chad:el"--\oon-f----- the City of Palo Alto, the Council on June 11, 2007 did adopt a budget for fiscal year 2007-08; and B. In fiscal year 2005-06, the Council did adopt a budget for CIP Project SD-06l02, San Francisquito Creek Storm Water Pump Station (Project), with an initial appropriation of $949,920; and C. In fiscal year 2007-08, the Council increased the appropriation of the Project by $4,600,000; and D. From fiscal year 2005-06 to date, expenses related to design elements of the Project were incurred leaving a balance of $323,000 for the construction cost of the Project; and _E. Thjs_projecLwasput_outtou_bid;tbelowbJd ishigber_thao the amount estimated f-ortn-e-Project ana aaaTtlonal-runamg or$2,9314,577 is requireato construct the Project; and F. The total additional appropriation of $2,934,577 for this project will be funded by a transfer of appropriation from a number of CIP Storm Drain projects and a loan from the General Fund Budget Stabilization Reserve. The details of the funding sources are summarized in the following table; and Funding Source Amount CIP SD-06104 -Connect Clara Drive Storm $914,000 Drains To Matadero Pump Station CIP SD-06103 -Extend Gailen/Bibbits Storm $105,000 Drain Outfall To The Adobe Pump Station CIP SD-88070, Storm Drain CIP $215,577 Administration General Fund BSR Loan $1,700,000 Total $2,934,577 G. City Council authorization is needed to amend the 2007-08 budget to make available the funds required for construction of the Project. SECTION 2. A General Fund loan of One Million Seven Hundred Thousand Oollars ($1,700,000) to be paid back in three years at an interest rate commensurate with the Reserve's annual rate of return is hereby made from the General Fund Budget Stabilization Reserve to the Storm Orainage Fund . . SECTJO~3. Tr:ar:lsfer:.-of-b.udgeLinto-Cl~J~r:oject--S[bo.61-02,-San~ ~~~ Francisquito Creek Storm Water Pump Station from CIP Project 50-06104 in the amount of Nine Hundred Fourteen Thousand Dollars ($914,000) reducing the appropriation in CIP Project 50-06104 by ($914,000). SECTION 4. Transfer of budget into CIP Project 50-06102, San Francisquito Creek Storm Water Pump Station from CIP Project 50-06103 in the amount of One Hundred Five Thousand Oollars ($105,000) reducing the appropriation in CIP Project 50-06103 by ($105,000). SECTION 5. Transfer of budget into CIP Project 50-06102, San Francisquito Creek Storm Water Pump Station from CIP Project 50-88070 in the amount of Two Hundred Fifteen Thousand Five Hundred Seventy-Seven Oollars ($215,577) reducing the appropriation in CIP Project 50-88070 by ($215,577). SECTION 6. The sum of Two Million I\line Hundred Thirty-Four Thousand =====tE::t'ive::~··-~-:J:tBttlunl"ldi"ectSe:v:entyi-:selleI'LDoU:aI-s~~$:2;:934~,522)JS=.heteb:y-approptiated::to CIP Project 50-06102, San Francisquito Creek Storm Water Pump Station. SECTION 7. As specified in Section 2.28.080(a) of the Palo Alto IVlunicipal Code, a two-thirds vote of the City Council is required to adopt this ordinance. SECTION 8. As provided in Section 2.04.330 of the Palo Alto IVlunicipal Code, this ordinance shall become effective upon adoption. SECTION 9. The Council of the City of Palo Alto hereby finds that this project is exempt from the provisions of the California Environmental Quality Act, and therefore, no environmental impact assessment is necessary. II II II INTRODUCED AND PASSED: AYES: NOES: ABSTENTIONS: ABSENT: ATTEST: APPROVED AS TO FORM: Senior Ass August 06, 2007 BARTON, BEECHAM, DREKMEIER, KISHIMOTO, KLEIN, KLEINBERG, MORTON, MOSSAR CORDELL APPROVED: Director of Public Works Director Services