2025-174

A Resolution to Fund the Rogers High School Construction

WHEREAS, the Newport City Council adopted Resolution No. 2024-122 in November 2024, resolving to commit a total of $2,918,809 to the Newport High School construction project to address funding shortfalls identified by the Newport School Building Committee; and

WHEREAS, the City Council recognized in that resolution that this funding source would be determined at a later date and contingent upon the responsible spend down of both the Owner’s Contingency and Construction Contingency to the minimum levels contractually permitted under the project agreements; NOW THEREFORE BE IT

RESOLVED,

1. The City of Newport hereby reaffirms its commitment to provide $2,918,809 to the Newport High School construction project as previously authorized in Resolution No. 2024-122, recognizing this funding as essential to achieving a timely and fully compliant Final Certificate of Occupancy.

2. Disbursement of these funds shall remain contingent upon the Owner’s and Construction Contingency accounts being expended down to their minimum contractually required balances, as verified by the Project Manager and confirmed in writing.

3. The City Council directs the Finance Director to transfer $2,918,809 from the General Fund, sourced from investment earnings that exceeded the fiscal year 2025 budgeted revenue projections to the School Construction Capital Fund.

IN COUNCIL
READ AND PASSED
OCTOBER 8, 2025

Laura C. Swistak
City Clerk