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Home My Public Portal About056-2020 - General To Approve Improvement FundsL COMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA ORDINANCE NO.56-2020 A SPECIAL ORDINANCE CREATING NEW FUNDS TO BE KNOWN AS IMPROVEMENT FUNDS FOR THE RICHMOND SANITARY DISTRICT WHEREAS, The City of Richmond, Indiana (the "City"), has heretofore established and constructed and currently owns a sewage works, as such term is defined in Indiana Code 36-9-23, as amended (the "Act") by and through its Board of Sanitary Commissioners of the City of Richmond (the "Commissioners"), pursuant to the provisions of the Act; and WHEREAS, The Richmond Sanitary District (hereinafter "RSD") . is continually involved with improvement projects involving long-term capital projects and expenditures on behalf of City with significant dollar amounts and the RSD is in need of ensuring that these improvement projects and expenditures have sufficient funds available for RSD's long-term capital projects and expenditures; and WHEREAS, The funds needed by RSD are similar to rainy day funds so that RSD's needed improvement funds for capital projects and expenditures do not revert back to the City's General Fund if the improvement funds are not appropriated and spent in a particular year; and WHEREAS, RSD has several different capital improvement projects and expenditures in need of being created, restricted and marked, and funded as' "Improvement Funds". These funds include the following accounts to be numbered and established as improvement funds, the amounts to be transferred to establish the accounts, and the account number of where the funds are presently located: a) 0908 Stormwater Account $ 958,389 West Side Interceptor No. 0907-00.00-800-6000 b) 2042 Sewer Utility Account West Side Interceptor $ 3,039,9.48 No. 2041-0000-800-6000 Levee Improvement $ 420,150 No. 2041-0000-800-6000 Ordinance No. 56-2020 Page 2 Total $ 3,460,098 c) 2044 Landfill Account $ 1,637,500 Landfill Cell Construction No. 2043-0000-800-6000 d) 6402 Sanitary Capital Account Hayes Li Station $ 1,826,000 No. 6401-0000-800-6000 Levee Improvements $ 420,150 No. 6401-0000-800-6000 Landfill Cell Construction $ 1,637,500 No.6401-0000-800-6000 Total $ 3,8835650 TOTAL: Improvement Funds $ 9,939,637 WHEREAS, It is in the best interests of the RSD and the City of Richmond to approve the establishment of Improvement Funds as set forth above and which Improvement Funds are in addition to existing accounts of the Richmond Sanitary District; and_ WHEREAS, The Board of Directors of the Richmond Sanitary District approved Resolution 6-2020 on September 8, 2020, which resolution approved the establishment of new accounts for the "Improvement Funds" and approved transfer of funds as set forth above to the newly -established accounts called the "Improvement Funds", with such resolution subject to approval of the Common Council of the City of Richmond, Indiana; and WHEREAS, There are not sufficient funds at the present time in RSD's budget to fully fund ongoing capital projects and expenditures if any of the proposed Improvement Funds set out above are appropriated and spent elsewhere within the RSD or City budgets; and WHEREAS, If the Improvement Funds as set forth above are not established, and said existing accounts for capital improvements are utilized for monies other than the RSD capital projects, the exposure to both City taxpayers and RSD rate payers could result in RSD being forced to borrow by bonding for significant amount of monies to fund RSD capital projects that had been utilized and spent for purposes other than the capital project Improvement Funds. Ordinance No. 56-2020 Page 3 NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that the following new funds be created and established as Improvement Funds in the Richmond Sanitary District's budget, and transferred to these new funds in the amounts sot forth below, with such Improvement Funds prohibited from reverting to the City Budget or General Fund if the monies are not appropriated or spent in a City'Fiscal year: a) 0908 Stormwater, Account West Side Interceptor b) 2042 Sewer Utility Account West Side Interceptor Levee Improvement $ 958,389 $ 3,039,948 $ 420,150 Total $ 3,460,098 c) 2044 Landfill Account $ 1,637,500 Landfill Cell Construction d) 6402 Sanitary. Capital Account Hayes Lift Station $ 1,826,000 Levee Improvements $ 420,150 Landfill Cell Construction $ 1,637,500. Total $ 3,883,650 TOTAL: Improvement Funds $ 9,939,637 Passed and adopted this,,.? I day of 2020, by the Common Council of the City of Richmond, Indiana. r President (Ron Oler, Ph.D.) ATTEST*a4ren.Chasteen, IAMC, MMC) PRESENTED to the Mayor of the City of Richmond, .Indiana, this -;?,ttday of , 2020, at 9:00 a.m. Ordinance No. 56-2020 Page 4 aren Chasteen, IAMC, MMC) APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana; this 7, 9 day of SF,ffewQ_ 2020, at fl.m. t ©' Z�- 4 , r ayor vid M. S ATTEST: (Karen Chasteen, IAMC, MMC)