HomeMy WebLinkAboutOrdinance 11029ri
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ORDINANCE NO ~Q
AN ORDINANCE INCREASING THE ESTIMATED
RECEIPTS AND APPROPRIATIONS IN THE
GENERAL FUND IN THE AMOUNT OF
$14,633 00 FOR THE PURPOSE OF CONTINUING
OPERATION OF THE HOME LOAN
INFORMATION CENTER, PROVIDING FOR A
SEVERABILITY CLAUSE, MAKING THIS
ORDINANC~;E CUMULATIVE OF PRIOR
ORDINANCES AND REPEALING ALL PRIOR
ORDINANCES IN CONFLICT HEREWITH,
PROVIDING FOR ENGROSSMENT AND
ENROLLMENT, AND PROVIDING AN EFFECTIVE
DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
SECTION 1
That in addition to those amounts allocated to the various City
departments for the Fiscal Year 1991-92 and in the Budget of the
City Manager, there shall also be increased estimated receipts and
appropriations in the gener al Fund in the amount of $14,633 00 for
the purpose of conti nuing operation of the Home Loan Information
Center
SECTION 2.
Should any portion, section or part of a section of this ordinance be
declared invalid, inoperative or void for any reason by a court of
competent jurisdiction, such decision, opinion or judgement shall in
no way impair the remaining portions, sections, or parts of sections
of this ordinance, which said remaining provisions shall be and
remain in full force and effect.
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SECTION 3
That this ordinance shall be cumulative of Ordinance No 10892 and
all other ordinances and appropriations amending the same except
in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in
which instance said conflicting provisions of said prior ordinances
and appropriations are hereby expressly repealed
SECTION 4
The City Secretary of the City of Fort Worth is hereby directed to
engross and enroll this ordinance by copying the caption and
effective date into the minutes of the City Council and by filing this
ordinance in the ordinance records of the City of Fort Worth
SECTION 5
This ordinance shall take effect and be in full force and effect from
and after the date of its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
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Effective
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Adopted _~~~~=~
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N u (ER AUMINIS I RA~a or aid Cou~;cil C',~rmmunicati~~n
OUSING & MUMAN SERVI( s~
DATE REFERENCE NUMBER LOG NAME PAGE
02/25/2 **C-13252 05CONTRT 1 of 2
I SUBJECT I THETHOME LOAN INFORMATIONHCENTER FINANCE :CORPORATION TO CONTINUE OPERATLNG I
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to:
1. Adopt the attached Supplemental Appropriations Ordinance increasing estimated
receipts and appropriations by $14,633.00 in the General Fund from increased
revenues, and
2. Execute a contract with the Fort Worth Housing Finance Corporation for the
continued operation of the Home Loan Information Center from November 1, 1991 to
September 30, 1992 for an amount not to exceed $41,981.00, and
3. Approve the waiver of indirect costs applicable to this request.
DISCUSSION:
On September 13, 1990, the Fort Worth Housing Finance Corporation (FWHFC) approved the
issuance of 21.4 million dollars in mortgage revenue bonds. Proceeds from the sale of
the bonds are being utilized to provide mortgage loans for first-time homebuyers
seeking to purchase newly constructed or existing homes in the City of Fort Worth. To
support the Single Family Mortgage Revenue Bond Program during the first year of a two-
year origination period, the Fort Worth Housing Finance Corporation approved the
establishment of the Fort Worth Home Loan Information Center on September 25, 1990 with
a $52,500.00 allocation for the purpose of providing information to interested
borrowers. This information center is supervised by City staff from the Housing and
Human Services Department.
On October 29, 1991, the Fort Worth Housing Finance Corporation approved the allocation
of $41,981.00 for the continued operation of the Fort Worth Home Loan Information
Center through the second year of the bond program origination period. This allocation
is a combination of funds (1) $27,348.00 which is remaining from the original
allocation of $52,500.00, and (2) anew allocation of $14,633.00. These funds will be
used for salaries of two employees who operate the Center and for supervisory costs.
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City of Fort iCrorth, Texas
Mayor and Council Communication
DATE 02/25/92 REFEREN E NUMBER **C-13252 L NAME
05CONTRT PA E
2 of 2
SUBJECT CONTRACT WITH FORT WORTH HOUSING FINANCE CORPORATION TO
THE HOME LOAN INFORMATION CENTER CONTINUE OPERATING
FISCAL INFORMATION/CERTIFICATION:
The Director of Fiscal Services certifies that upon adoption
Appropriation Ordinance, funds required for this contract will
current operating budget of the General Fund.
LW:z
of the Supplemental
be available in the
Su Otte for City Manager's FUND ACCOUNT CENTER AMOUNT ARY
Office by o ~+
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GGO1 481416 0050900 14,633 0 C
Libby Watson 6140 1 G 1 511010 0050900 14,633 0 l i
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Originating Department Head o.
dopted Ordinance
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Sandra Gonzales 7532 from
GGO1 Various 0050900 27,348 0 r~
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For Additional Information GGO1 511010 0050900 14,633 0 c
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Contact
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Sandra Gonzales 7537 i
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