HomeMy WebLinkAboutOrdinance 11135
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ORDINANCE NO 1~I~~
AN ORDINANCE APPROPRIATING
$1,434,193 00 TO THE AIRPORTS FUND AND
DECREASING THE UNRESERVED,
UNDESIGNATED RETAINED EARNINGS OF
THE AIRPORTS BY THE SAME AMOUNT FOR
THE PURPOSE OF TRANSFERRING FUNDS
FROM THE AIRPORTS FUND TO THE
CAPITAL PROJECTS RESERVE FUND,
PROVIDING FOR A SEVERABiLITY CLAUSE,
MAKING THIS ORDINANCE 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 appropriations in the Airports
Fund in the amount of $1,434,193 00, thereby decreasing the
unreserved, undesignated Retained Earnings of the Airports by the
same amount for the purpose of transferring funds from the Airports
Fund to the Capital Projects Reserve Fund
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 judgment 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appropriations are hereby expressly repealed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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Adopted ~ `' ~ ~' ~i
Effective
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ACCOUNTING 2 City of Fort worth, Texas
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DATE REFEREN E NUMBER L NAME PAGE
EhIENT SEHVI~pT,(•21/92 G-9741 13AI-R 1 of 1
SUBJECT SUPPLEMENTAL APPROPRIATION IN AIRPORTS FUND AND TRANSFER TO CAPITAL PROJECTS
RESERVE FUND
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached supplemental appropriations ordinance increasing appropriations
by $1,434,193.00 in the Airports Fund and decreasing the unreserved, undesignated
retained earnings of the Airports by the same amount, and
2 Approve the transfer of the same $1,434,193.00 from the Airports Fund to the
Capital Projects Reserve Fund.
DISCUSSION:
In June 1980, the City of Fort Worth entered into an agreement to sell the Greater
Southwest International Airport (GSIA). On May 9, 1979, as the City was anticipating
the sale of GSIA, the City Council established four priorities for the sale proceeds
(M&C G-4167). The third of these priorities was to contribute these monies to the
Capital Projects Reserve Fund, earmarking them specifically for repayments to the
General Fund for prior year advances. Under the GSIA sale agreement, the City should
continue to receive an annual payment of $1,434,193.00 through 1997-98
On June 8, 1992 the sale proceeds for 1992 were deposited into the Airports Fund PE40,
in the amount of $1,434,193.00 To make this amount available for use in the Capital
Projects Reserve Fund GC10, Unspecified, a supplemental appropriations ordinance is
necessary.
FISCAL INFORMATION/CERTIFICATION:
The Director of Fiscal Services certifies that upon the adoption of the supplemental
appropriations ordinance, funds required for this transfer will be available in the
current operating budget of the Airports Fund.
CB:z
Su fitted or City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by to
1 PE40 538070 0554000 1, 434,193 0 t~t~~~U~~Q
Charles Boswell 8500 2 GC10 38070 01301000100 1,434,193 0 ~i nn ~ ~~
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Originating Department Hea "~~ VQ~.
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Judson Bailiff 8185 from '~9-
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2 PE40 538070 0554000 1, 434,19• ~e~°~7~1,i'1~iiC~~,~~~.
For Additional Information ~a '~~~~~~~~ - i
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Judson Bailiff 8185
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