From
Maxine Snow
Title
Resolution declaring expectation to reimburse expenditures with proceeds of future debt in the amount of $36,000 for Professional Engineering Services contract with Innovative Transportation Solutions, Inc. (up to $36,000 annually) for one year with the option to renew for four additional one-year periods, totaling $180,000 if all extensions are exercised; and authorize the City Manager to execute the renewal options with aggregate price fluctuations of the lesser of up to $50,000 or 25% of the original maximum price so long as sufficient funds is appropriated by the City Council to satisfy the City's obligation during the renewal terms
Presenter
Walter Shumac III, P.E., Director of Transportation Services
Recommended Action
Approve
Analysis
This contract is for professional engineering services including the preparation and processing of local project advance funding agreements (LPAFA) with all appropriate transportation partners; transportation policy development; development of transportation funding options; governmental interaction on local, state and federal levels; and all other duties that may arise during their development.
Pursuant to Chapter 252.022 of the Local Government Code, local governments are authorized to exempt expenditures from competitive bidding for professional or planning services. Proposals were not solicited for this work due to the firm’s familiarity with the City of Grand Prairie projects.
Financial Consideration
Interim funding in the total amount of $36,000 is available from the unobligated fund balance in the Street Capital Projects Fund (400192) to WO #02106203 (FY21 Intersection Improvements)
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, DECLARING EXPECTATION TO REIMBURSE EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR PROFESSIONAL ENGINEERING SERVICES FOR PREPARATION AND PROCESSING OF LOCAL PROJECT ADVANCE FUNDING AGREEMENTS (LPAFA) WITH ALL APPROPRIATE TRANSPORTATION PARTNERS; TRANSPORTATION POLICY DEVELOPMENT; DEVELOPMENT OF TRANSPORTATION FUNDING OPTIONS; GOVERNMENTAL INTERACTION OF LOCAL, STATE AND FEDERAL LEVELS; AND ALL OTHER DUTIES THAT MAY ARISE DURING THEIR DEVELOPMENT PROJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Grand Prairie, Texas (the "Issuer") intends to issue debt for a professional services contract for preparation and processing of local project advance funding agreements (LPAFA) with all appropriate transportation partners; transportation policy development; development of transportation funding options; governmental interaction on local, state and federal levels; and all other duties that may arise during their development (the "Project") and further intends to make certain capital expenditures with respect to the Project and currently desires and expects to reimburse the capital expenditures with proceeds of such debt;
WHEREAS, under Treas. Reg. 1.150-2 (the "Regulation"), to fund such reimbursement with proceeds of tax-exempt obligations, the Issuer must declare its expectation to make such reimbursement; and
WHEREAS, the Issuer desires to preserve its ability to reimburse the capital expenditures with proceeds of tax-exempt obligations.
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS:
SECTION 1. That the Issuer reasonably expects to reimburse capital expenditures with respect to the Project with proceeds of debt hereafter to be incurred by the Issuer, and that this resolution shall constitute a declaration of official intent under the Regulation. The maximum principal amount of obligations expected to be issued for the Project is $36,000.00.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, JANUARY 5TH, 2021.