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District weighs moving LAIF funds to cover $1.5M pipeline replacement
Summary
Staff outlined a plan suggested by Bartle Wells to temporarily move LAIF funds into the warrant account to fund a roughly $1.5 million pipeline replacement; a resolution template will be brought to the July board meeting for consideration.
Manager Boucher told the board staff met with Bartle Wells to explore funding options for the pipeline replacement program. Bartle Wells recommended temporarily transferring funds from the LAIF account into the district's warrant account to cover construction costs and then returning funds to LAIF over time. Engineer Heindell said the engineer's estimate for the 10th Street to Keko Street pipeline replacement is roughly $1.5 million.
No board motion was taken on the funding mechanism at this meeting; Manager Boucher said a resolution template provided by Bartle Wells will be presented at the July board meeting for formal consideration. The board did not adopt changes to the capital budget at the June meeting.
