HomeMy WebLinkAboutOrdinance 10882_da-..
ORDINANCE NO. U~y
AN ORDINANCE AMENDING THE 1990-91 ASSESSMENT ROLL AND
ASSESSMENT ORDINANCE FOR FORT WORTH IMPROVEMENT DISTRICT
NO. 1; REDUCING THE ASSESSMENT AGAINST CERTAIN PARCELS OF
PROPERTY OF CITY CENTER DEVELOPMENT COMPANY; AUTHORIZING
A REFUND OF OVERPAID ASSESSMENTS; DIRECTING THE CITY
SECRETARY TO ENGROSS AND ENROLL THIS ORDINANCE; AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council of the City of Fort Worth has
heretofore directed that certain improvements and/or services (the
"Improvements") be provided in the Fort Worth Improvement District
No. 1 (the "District") during the 1990-91 fiscal year; and
WHEREAS, the City Council held a special benefit hearing and
levied assessments against parcels of property in the District and
the owners thereof for a portion of the cost of such Improvements
during the 1990-91 fiscal year, which assessments were levied by
the Council pursuant to the Public Improvement District Assessment
Act, V.T.C.A., Local Government Code, Section 372.001 et seq.; and
WHEREAS, such assessments were levied by the City Council
through the adoption of an assessment roll and an assessment
ordinance; and
WHEREAS, the amount of such assessments was based on the
appraised value of the parcels of property as determined by the
Tarrant Appraisal District on January 1, 1990; and
WHEREAS, City Center Development Company filed suit No. 48-
129961-90 against the Tarrant Appraisal District in the 48th
District Court of Tarrant County, appealing from the 1990
appraised value established by the Tarrant Appraisal District for
the tax accounts 04411420 and 04411439, which accounts are under
the ownership of City Center Development Company and are located
in the District; and
WHEREAS, judgement was entered in such suit and the
judgement reduced the appraised values of such parcels of property
(Attachment A); and
WHEREAS, it is necessary to amend the assessment roll and
assessment ordinance which levied the FY 1990-91 assessments
against such property and the owners thereof to reflect the new
appraised value established by the 48th District Court and the
assessment based thereon;
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
I.
That the assessment roll and ordinance which levied
assessments against parcels of property and the owners thereof on
behalf of Fort Worth Improvement District No. 1 during the 1990
fiscal year be and are hereby amended by changing the assessment
levied against the following parcels of property and the owners
thereof to read as follows:
Acct./Owner
0441-14-20
City Center
Develop. Co.
0441-14-39
City Center
Develop. Co.
Legal
Description
City Center Add.
Block 36R
City Center Add.
Block 40R
Appraised
Value
$54,000,000.00
$53,000,000.00
II.
Assessment
$ 43,200.00
$ 42,400.00
That the amount of any previously paid FY 1990-91 assessment
against the respective parcel of property and the owners thereof in
excess of the amended assessment amount shall be refunded to the
property owner.
III.
That except as heretofore and hereby amended, the assessment
roll and assessment ordinance approved and adopted by the City
Council for Fort Worth Improvement District No. 1 during the 1990-91
shall remain unchanged and shall continue in full force and effect.
IV.
The City Secretary is hereby directed to engross and enroll this
ordinance by copying the caption of same in the Minute Book of the
City Council of Fort Worth, Texas, and by filing the complete
ordinance in the ordinance records of said City.
V.
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.
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PASSED AND APPROVED this day of , 1991
APPROVED AS TO FORM AND LEGALITY:
City Attorney
Date:
ADOPTED: ~ ~ ~. ~/
EFFECTIVE: ~r~~~~j
MASPER FILE 1
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TE° REFERENCE NUMBER LOG NAME PAGE
1 of 1
07/30/91 **G-9234 02AMEND
SUBJECT AMENDMENT TO 1990-91 ASSESSMENT ROLL FOR PUBLIC IMPROVEMENT DISTRICT N0. 1
AND APPROVAL OF REFUNDS
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance which amends the FY 1990-91 assessment roll for Fort
Worth Improvement District No. 1, and
2. Authorize the Finance Department to refund $1,425 O1 in overpaid assessments on
account 04411420 and $3,153.24 in overpaid assessments on account 04411439.
DISCUSSION:
In Cause No. 48-129961-90, in the 48th District Court, City Center Development Co.
appealed the 1990 assessed valuations set by the Tarrant Appraisal District for
accounts 04411420 and 04411439. On April 9, 1991, an agreed judgement which reduced
the assessed valuation for the two accounts was entered in the suit.
Accounts 0441420 and 04411439 are part of Public Improvement District No. 1. Adoption
of the attached ordinance would make the following amendment to the 1990-91 assessment
roll for PID No. 1:
Account: 04411420
Old Value $61,028,332.00 Assessment Paid $ 44,625.Oi
New Value $54,000,000 00 Assessment Due 43,200.00
Refund $ 1,425 O1
Account: 04411439
Old Value $57,508,896.00 Assessment Paid $ 45,553.24
New Value $53,000,000 00 Assessment Due 42,400 00
Refund $ 3,153.24
If this ordinance is adopted, the total PID No 1 assessments for FY 1990-91 will be
reduced from $600,834.74 to $596,256 49
FISCAL INFORMATION/CERTIFICATION•
The Director of Fiscal Services certifies that the money required for these refunds is
available in the Public Improvement District No 1 project account.
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