Title
Incorporated County of Los Alamos Code Ordinance No. 02-280; An Ordinance to Amend Section 40-64 of the Los Alamos County Code of Ordinances to Provide Authority to Council and Board of Public Utilities to Transfer Revenues or Funds of a System to Another System.
Recommended Action
I move that Council adopt Incorporated County of Los Alamos Code Ordinance No. 02-280; An Ordinance to Amend Section 40-64 of the Los Alamos County Code of Ordinances to Provide Authority to Council and Board of Public Utilities to Transfer Revenues or Funds of a System to Another System; and ask staff to assure that it is published in summary form.
Utilities Manager Recommendation
The Utilities Manager recommends that Council adopt the code ordinance as presented.
Board, Commission or Committee Recommendation
The Board of Public Utilities recommends that Council adopt the code ordinance as presented. (See attached endorsement letter.)
Body
County ordinance currently does not allow for one utility sub-fund to subsidize another. While loans between utilities are allowed so long as market rate interest is applied, outright transfers from one sub-fund to another is prohibited. The proposed ordinance 02-280 would add language permitting transfers between utilities systems with concurrence of both the Board of Public Utilities and the County Council. This necessity of both entities agreeing to the transfer would allow for flexibility when there are unusual circumstances. Should Council adopt the ordinance, it would be with the understanding that such fund transfers in the future would be done rarely and only with a very compelling reason.
Adoption of this ordinance does not necessarily indicate Council endorsement of any particular transfer at this time. It simply allows the Board and Council to consider intra-utility fund transfers in the future.
Alternatives
Council could decide not to adopt the proposed ordinance. The proposed ordinance would only allow transfer...
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