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Regular City Council Meeting
Budget Amendment Ordinance 1st Reading - Finance:
Consider Budget Ordinance Amendment 5, amending the FY 2018-19 Budget for municipal purposes respecting the Lubbock Power and Light Capital Fund to Establish Capital Improvement Project 92608 – Red Raider Substation Distribution Feeders and appropriate funding; providing for filing; and providing for a savings clause.
Establish Capital Improvement Project 92608, Red Raider Substation Distribution Feeders, and appropriate funding in the amount of $4,985,000. The project will utilize Short Term Lending Facility (20-Year) funding. The project scope and justification is as follows:
Install 8 new distribution feeder lines from Red Raider Substation. This includes 4 dedicated circuits to Texas Tech University (TTU) that will be routed from Quaker Avenue to the TTU campus.
Red Raider Substation was built to serve LP&L's system distribution needs as well as provide additional circuits to handle increasing electrical demand from TTU. These new feeders circuits will connect the new substation to existing circuits both on and off campus, and will have an estimated useful life of 40 years. The assets will be charged to Federal Energy Regulatory Commission (FERC) Accounts: 364, 365, 366, 367.
Included in Item Summary
D. Blu Kostelich, Chief Financial Officer
BA 5 (c)
LPL Executed Resolution for BA 5
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