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HomeMy WebLinkAbout4625 Ordinance - 2021-2022 Supplemental Budget Zone 3 Reservoir Storage Tank MLSORDINANCE NO. 4625 AN ORDINANCE AMENDING THE 2021-2022 BIENNIAL BUDGET (ORDINANCE NO. 4560) OF THE CITY OF PASCO, WASHINGTON, BY PROVIDING SUPPLEMENT THERETO; TO PROVIDE ADDITIONAL APPROPRIATION IN THE CITY'S WATER FUND FOR THE CONSTRUCTION OF THE ZONE 3 WATER RESERVOIR STORAGE TANK. WHEREAS, on December 7, 2020, the Pasco City Council approved Ordinance No. 4503, adopting the 2021-2022 Biennial Budget; and WHEREAS, on November 22, 2021, the Pasco City Council approved Ordinance No. 4560, adopting the 2021-2022 Biennial Budget Amendment; and WHEREAS, the 2021-2022 Amended Biennial Budget included the Zone 3 Water Reservoir Storage Tank in the amount of $11,310,000 with revenue anticipated from Water Fund expansion fees and a secured low interest loan; and WHEREAS, the 2023-2024 Proposed Biennial Budget included the Zone 3 Water Reservoir Storage Tank in the amount of $3,998,000 with revenue anticipated from Water Fund and a secured low interest loan; and WHEREAS, the City is in receipt of a construction loan of $10,000,000 funded through the Washington State Public Works Board for the Zone 3 Water Reservoir Storage Tank; and WHEREAS, current project costs exceed the original anticipated costs, due to market conditions; and WHEREAS, the City is pursuing an increase of funds to cover construction costs anticipated to be expended in 2022 through 2024. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON DO ORDAIN AS FOLLOWS: Section 1. Pursuant to RCW 35A.34.200(3), the 2021-2022 Biennial Budget be and the same is hereby amended to provide for the following adjustments to revenues, transfers in, expenditures, and transfers out by providing authority for any necessary transfer of money within or between funds indicated, and their subsequent impact to end fund balance: Fund Water/Sewer Utility Fund Total Ordinance — 2021-2022 Capital Projects Budget Amendment- 1 EXPENDITURE REVENUE $ 3,897,000 $ 3,897,000 $ 3,897,000 $ 3,897,000 Section 2. That the additions in appropriations and expenditures are hereby declared to exist in the above funds for the said uses and purposes as shown above and the proper City officials are hereby authorized and directed to issue warrants and transfer funds in accordance with the provision of the Ordinance. Section 3. Except as amended herein, Ordinance No. 4560 as previously adopted heretofore shall remain unchanged. Section 4. This Ordinance, being an exercise of a power specifically delegated to the City legislative body, is not subject to referendum, and shall take full force and effect five (5) days after approval, passage and publication as required by law. PASSED by the City Council of the City of Pasco, December, 20 Blanche Barajas Mayor ATTEST: Debra Barham, CMC City Clerk Washington on this 5th day of APPROVED AS TO FORM: Kerr Fer aw, PLLC Ordinance — 2021-2022 Capital Projects Budget Amendment- 2