SEATTLE CITY COUNCIL - Record No: CB 119602

• Record No: CB 119602
• Version: 1
• Council Bill No: CB 119602
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 8/12/2019
• Ordinance No: Ord 125889
• Title: AN ORDINANCE relating to the financing of the Center City Streetcar Connector project; authorizing the loan of funds in the amount of $9,000,000 for design of the streetcar; amending Ordinance 125724, which adopted the 2019 Budget, including the 2019-2024 Capital Improvement Program (CIP); changing appropriations to the Seattle Department of Transportation; and revising project allocations and spending plans for certain projects in the 2019-2024 CIP.
• Sponsors: Mike O'Brien
• Supporting documents: 1. Summary and Fiscal Note, 2. Summary Att 1 – Revised Center City Streetcar CIP Page, 3. Central Staff Memo, 4. Signed Ordinance 125889, 5. Affidavit of Publication
• Related files: Inf 1476

Date	Ver.	Action By	Action	Result
8/19/2019	1	City Clerk	attested by City Clerk
8/19/2019	1	Mayor	returned
8/19/2019	1	Mayor	Signed
8/13/2019	1	City Clerk	submitted for Mayor's signature
8/12/2019	1	City Council	passed	Pass
8/6/2019	1	Sustainability and Transportation Committee	pass	Pass
8/5/2019	1	City Council	referred
7/30/2019	1	Council President's Office	sent for review
7/23/2019	1	City Clerk	sent for review
7/23/2019	1	Mayor	Mayor's leg transmitted to Council

CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the financing of the Center City Streetcar Connector project; authorizing the loan of funds in the amount of $9,000,000 for design of the streetcar; amending Ordinance 125724, which adopted the 2019 Budget, including the 2019-2024 Capital Improvement Program (CIP); changing appropriations to the Seattle Department of Transportation; and revising project allocations and spending plans for certain projects in the 2019-2024 CIP.
body
WHEREAS, in 2018, the Center City Streetcar project was put on-hold pending an independent review and engineering analysis; and
WHEREAS, in 2019, the City is planning to proceed with design tasks to fully define the project costs, delivery schedule, and funding approach and requires appropriation authority to move forward; and
WHEREAS, Seattle Municipal Code subsection 5.06.030.C requires City Council approval by ordinance of any interfund loan for a duration of more than 90 days; and
WHEREAS, in the normal course of business the City may temporarily lend cash between funds to maintain required balances; and
WHEREAS, the Director of Finance and the City Budget Director have determined that this interfund loan request is consistent with the Debt Management Policies adopted by Resolution 31553; and
WHEREAS, there is sufficient cash in the Information Technology Fund to support a loan of up to $9 million and still meet regular budgeted operating needs; and ...