HomeMy WebLinkAboutOrdinance 10811ORDINANCE NO.~~L,
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS IN THE
SPECIAL TRUST FUND FE72, ADDIE LEVY TRUST, CENTER NO.,
013504000000 OF THE CITY OF FORT WORTH FOR THE FISCAL
YEAR 1991 BY THE SUM OF $9,973.63, SAID FUNDS TO BE
USED FOR THE PURPOSE OF PURCHASING TECHNOLOGICAL,
BUSINESS AND SCIENTIFIC LIBRARY MATERIALS; PROVIDING
FOR A 5EVERABILITY CLAUSE; MAKING THIS ORDINANCE
CUMULATIVE TO 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 1990-91 and in the Budget of the
City Manager, there shall also be increased estimated receipts in
the Special Trust Fund FE72, Addie Levy Trust, Center No.
013504000000 by the sum of 59,973.63 said funds to be used for
the purpose of purchasing technological, business and scientific
library materials according to the terms of the Addie Levy Trust.
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 or 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.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 10652
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repealed
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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.
APP ED AS TO FO/ AND LEGALITY:
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Date: ~ ~y-9~
Adopted: ,~""~~ "` ~/' /
Effective • ~~~~ ~o -~`
OM5:03/07/91
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DATE REFERENCE susrECr SUPPLEMENTAL APPROPRIATION OF PAGE
NUMBER FUNDS FROM ADDiE LEVY TRUST ACCOUNT TO 2
3-26-91 **G-9082 , ,,,.,.,,,, ,.~.,~.,., ~,..... i of
RECOMMENDATIONS:
It is recommended that the City Council authorize the City Manager to:
1. Adopt the attached appropriations ordinance increasing appropriations and
estimated receipts in the Special Trust Fund FE72, Center No.
013504000000, Addie Levy Trust, in the amount of $9,973.63 from increased
revenues;
2. Approve the transfer of $10,000.00 from Special Trust Fund FE72, Center
No. 013504000000, Addie Levy Trust, to General Fund GGO1, Center No.
0842001, Library Support Services;
3. Adopt the attached supplemental appropriations ordinance increasing
appropriations and estimated receipts by $10,000.00 in the General Fund
GGO1, Center No. 0842001, Library Support Services; and
4. Approve the expenditure of $10,000.00 for the purchase of library
materials under the guidelines of the trust.
DISCUSSION:
On June 15, 1956, Fort Worth Public Library was named as one of six
institutions entitled to receive either directly or in trust, one-sixth of
one-half of the net residuary of Dan A. Levy's estate. The share was placed
in trust with MBank of Fort Worth and is now serviced by Ameritrust. Each
year interest earned from the Trust is deposited in a special trust fund with
the City. The provision of Mr. Levy's will requires interest earned from the
Trust be used for the purchase of technological, business and scientific books
and periodicals in memory of his mother, Addie Levy.
In past years lesser amounts than received have been transferred to the
General Fund, allowing the Addie Levy Special Trust to grow and earn
additional interest. Therefore, a larger amount than received in 1990 is
available to be realized as revenues and transferred. The amount received was
$9,749.91.
Additionally, some time ago for no apparent reason, $26.37 was realized as an
increase to estimated receipts in the Addie Levy Trust, but remained and was
not transferred to the General Fund.
In an effort to remedy this situation, staff is recommending the $26 37 be
transferred at this time. This action results in the disparity in
recommendation two above, to increase estimated receipts by a lesser amount
than recommended for transfer.
DATE REFERENCE
NUMBER sue~ECr~SUPPLEMENTAL APPROPRIATION OF PAGE
3-26-91
**G-9082 FUNDS FROM ADDIS LEVY TRUST ACCOUNT TO 2 2
of
FINANCING:
Upon approval and completion of Recommendations No. 1 through No. 3,
sufficient funds will be available in the General Fund GGO1, Library
Department Support Services Center No. 0842001 for the purchase of the books
per the terms of the Trust. Expenditure will be made from Account No. 521340.
I RG:t
84supapp
APPROVED BY
CITY COUNCIL
MAR 26 1991
1 4~lnN/~dL-..
City SecsotGSy of the
City of Foztt Woztt>~ Tlsar
SUBMITTED FOR THE
CITY MANAGER'S
Ramon Gua ardo 6143
J
DISPOSITION BY COUNCIL.
PROCESSED BY
OFFICE BY ^ APPROVED
ORIGINATING 7
Li ndd Al lmdnd / 706 ^ OTHER (DESCRIBE)
DEPARTMENT HEAD• CITY SECRETARY
FOR ADDITIONAL INFORMATION Linda Al lmand 7706
CONTACT A~dOpted Qrdirtance No
~ ~ / DAT
. / E
Adopted' Qrdinanee N~~ /~