City of Atlanta
Georgia

Ordinance
19-O-1062
Adopted as Amended
Mar 4, 2019 1:00 PM

AN AMENDED ORDINANCE BY FINANCE/EXECUTIVE COMMITTEE
AUTHORIZING THE CHIEF FINANCIAL OFFICER TO AMEND THE FISCAL YEAR 2019 BUDGET BY ADDING TO ANTICIPATIONS AND APPROPRIATIONS BOND PROCEEDS IN THE AGGREGATE PRINCIPAL AMOUNT OF FOURTEEN MILLION, TWENTY THOUSAND DOLLARS AND ZERO CENTS ($14,020,000.00) IN CONNECTION WITH THE CITY OF ATLANTA WATER AND WASTEWATER ENVIRONMENTAL IMPACT SUBORDINATE LIEN REVENUE BONDS (PROCTOR CREEK WATERSHED PROJECT), SERIES 2018D; AND FOR OTHER PURPOSES.

Information

Department:FinanceSponsors:
Category:FinanceFunctions:None Required

Attachments

  1. Printout
  2. 2018D Proctor Creek
  3. Ordinance to Anticipate and Appropriate Series 2018D Bonds
  4. 19-O-1062 (Amendment Form) (This file has not yet been converted to a viewable format)

Body

WHEREAS, the City Council of the City of Atlanta adopted Ordinance 18-O-1664 on November 19, 2018, which authorized the issuance of the City of Atlanta Water and Wastewater Environmental Impact Subordinate Lien Revenue Bonds (Proctor Creek Watershed Project), Series 2018D (the “Series 2018D Bonds”); and

WHEREAS, the proceeds of the Series 2018D Bonds in the aggregate principal amount of Fourteen Million, Twenty Thousand Dollars and No Cents ($14,020,000.00) must be anticipated and appropriated to the proper fund account and cost centers of the City of Atlanta (the “City”).

NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ATLANTA, GEORGIA, as follows:

SECTION 1: That the City’s Fiscal Year 2019 Budget is hereby amended as follows:

To Record Use of Par Bond Proceeds and Premium on Bonds Sold:

ADD TO ANTICIPATIONS

FDOA

 

5079.000002.3937001.0000000.000000.00000.0000.00000000.00000000                            $14,020,000.00

Series 2018D Bonds - Par Bond Proceeds

5079.000002.3934001.0000000.000000.00000.0000.00000000.00000000                                     86,324.25

Series 2018D Bonds - Net Premium on Bonds Sold

Total                                                                                                                                                          $14,106,324.25

 

ADD TO APPROPRIATIONS

5079.200101.5999999.1512000.200118.22520.0000.00000000.00000000                            $13,500,000.00

Series 2018D Bonds - Project Fund

5079.200938.5840004.8000000.000000.00000.0000.00000000.00000000                                   606,324.25

Series 2018D Bonds - Cost of Issuance

Total                                                                                                                                                          $14,106,324.25

To Record Project Funds in Project Reserve:

PTAEO

Capital Projects Reserve

Task

2018B Water and Wastewater Bond Fund

Facilities Other Than Blds/Infrastructure - CIP

City of Atlanta

10200118

135

507922520

5414002

COA

Series 2018D Project Proceeds - $13,500,000.00

 

To Record Source and Use of Performance Payment:

ADD TO ANTICIPATIONS

FDOA

5079.000002.3912015.0000000.000000.00000.0000.00000000.00000000                            $   1,000,000.00

Series 2018D Bonds - Performance Payment Contribution

Total                                                                                                                                                          $   1,000,000.00

 

ADD TO APPROPRIATIONS

5052.200938.6110196.8000000.000000.00000.0000.00000000.00000000                            $   1,000,000.00

Series 2018D Bonds - Performance Payment Contribution

Total                                                                                                                                                          $   1,000,000.00

SECTION 2: That to the extent any residual Cost of Issuance (“COI”) amounts remain after all COI invoices are paid, funds shall be transferred to the debt service interest account to pay interest on the Series 2018D Bonds.

 

SECTION 3: That the Chief Financial Officer be and is hereby authorized to create accounts and make payments from said fund account centers as necessary.

 

SECTION 4: That the PTAEO award for the Series 2018D Bonds be increased on a periodic basis by accumulated interest earnings recorded in the General Ledger.

 

SECTION 5: That all ordinances and parts of ordinances in conflict herewith are hereby waived to the extent of the conflict only.

 

Meeting History

Feb 13, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft

TO BE REFERRED TO FINANCE/EXECUTIVE COMMITTEE

RESULT:ACCEPTED [5 TO 0]
MOVER:Howard Shook, Chair
SECONDER:Matt Westmoreland, Post 2 At Large
AYES:Howard Shook, Andrea L. Boone, Andre Dickens, Jennifer N. Ide, Matt Westmoreland
AWAY:Natalyn Mosby Archibong, J. P. Matzigkeit
Feb 18, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

REFERRED TO FINANCE/EXECUTIVE COMMITTEE BY A ROLL CALL VOTE OF 13 YEAS; 0 NAYS

RESULT:REFERRED TO COMMITTEE [UNANIMOUS]
MOVER:Jennifer N. Ide, Councilmember, District 6
SECONDER:Marci Collier Overstreet, Councilmember, District 11
AYES:Michael Julian Bond, Matt Westmoreland, Andre Dickens, Carla Smith, Cleta Winslow, Natalyn Mosby Archibong, Jennifer N. Ide, Howard Shook, J. P. Matzigkeit, Dustin Hillis, Andrea L. Boone, Marci Collier Overstreet, Joyce M Sheperd
ABSENT:Amir R Farokhi
Feb 27, 2019 1:00 PM Video Finance/Executive Committee Regular Committee Meeting
draft Draft

Mohamad Balla, DWM Deputy Commissioner

RESULT:FAVORABLE AS AMENDED [6 TO 0]
MOVER:J. P. Matzigkeit, District 8
SECONDER:Andrea L. Boone, District 10
AYES:Howard Shook, Natalyn Mosby Archibong, Andrea L. Boone, Andre Dickens, Jennifer N. Ide, J. P. Matzigkeit
AWAY:Matt Westmoreland
Mar 4, 2019 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

ADOPTED AS AMENDED BY A ROLL CALL VOTE OF 12 YEAS; 0 NAYS

RESULT:ADOPTED AS AMENDED [12 TO 0]
MOVER:Amir R Farokhi, Councilmember, District 2
SECONDER:Matt Westmoreland, Councilmember, Post 2 At Large
AYES:Michael Julian Bond, Matt Westmoreland, Andre Dickens, Carla Smith, Amir R Farokhi, Natalyn Mosby Archibong, Jennifer N. Ide, Howard Shook, J. P. Matzigkeit, Dustin Hillis, Andrea L. Boone, Marci Collier Overstreet
ABSENT:Cleta Winslow
AWAY:Joyce M Sheperd