HomeMy WebLinkAboutOrdinance 18868-10-2009Ordinance No. 18868-10-2009
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS
IN THE WATER CAPITAL PROJECTS FUND iN THE AMOUNT OF X10,575,565.00 AND
X4,016,663.00 IN THE SEWER CAPITAL PROJECTS FUND FROM IMPACT FEE FOR
THE PURPOSE OF TRANSFERRING SAID FUNDS TO THE WATER AND SEWER
FUND; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE
CUMULATIVE OF PRIOR ORDINANCES AND REPEALING ALL PRIOR ORDINANCES
IN CONFLICT HEREWITH; AND PROVfiDfiNG AN EFFECTIVE DATE.
BE iT ORDAINED BY THE CITY GOUNCfiL OF THE CITY OF FORT WORTH, TEXAS:
SECTION 1
That in addition to those amounts allocated to the various City departments far Fiscal Year 2008-2009 and
in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in
the Water Capital Projects Fund in the amount of X10,575,565.00 and in the Sewer Capital Projects Fund
in the amount of $4,016,663.00, from impact fees and interest far the purpose of transferring said funds to
the Water and Sewer Fund.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative ar void
for any reason by a court of competent jurisdiction, such decision, opinion ar 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 farce and effect.
SECTION 3.
That this ordinance shat( be cumulative of Ordinance No.17749 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ordinances and appropriations are hereby expressly repealed.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
This ordinance shall take affect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
pity of Fart Worth, Texas
~~yor end ~o~ar~~il ~.:or~nnr~~nica~ior~
COUNCIL ACTION: Approved on 10/13/2009 -Ord. No. 18868-10-2009 $~ 18869-10-2009
DATE: Tuesday, October 13, 20fl9
L4G NAME: 601I~1PACT FEE 09
REFERENCE NO.: G-1G734
SUBJECT:
Adopt Ordinances Appropriating Impact Fee Revenues in the Amount of $10,575,565.00 in the Water
Capital Projects Fund and $4,016,663.00 in the Sewer Capital Projects Fund and Authorize the Transfer of
the Total Amount of $14,592,228.00 to the Water Sewer Fund for the Purpose of Paying Debt Associated
with Impact Fee Eligible Projects
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Water Capital Projects Fund in the amount of $10,575,565.00 and in the Sewer Capital Projects Fund in
the amount of $4,016,663.00 from impact fees; and
2. Authorize the transfer of $10,575,565.00 from the Water Capital Projects Fund and $4,016,663.00 from
the Sewer Capital Projects Fund to the Water and Sewer Fund in the total amount of $14,592,228.00 for
the purpose of paying debt associated with impact fee eligible projects.
DISCUSSION:
During the retail cost of service studies, it was determined that the use of impact fee revenues could lower
the amount of water and sewer service revenue required to have sufficient revenues to cover Fiscal Year
2009 budgeted expenditures. While Section 35-70.9 {b} of the City Code '"Use of proceeds of impact fee
accounts" prohibits use of impact fees for operating expenses, they can be used to pay principal and
interest on debt associated with projects eligible to be funded by impact fees. By transferring
$14,592.228.00 {$10,575,565.00 from Water Impact Fee revenue and interest revenue and X4,016,663.00
fror~~t `~`lasfewater Impact Fee revenue/ to the Water and Sewer Fund, sufficient revenues ti^.~ill be available
to pay principal and interest ors existing revenue bonds used to fund imi~act fee eligible projects.
FISCAL INFORMATION /CERTIFICATION:
FUND CENTERS,
TO Fund~AccountCenters FROM FundiAccount/Centers
_ ~ _ ~ 1=. _ _ ?~
1 } PS58 538044 070580200950 $2.,.949,549.25 2} PW53 638040 060530200050 X7,058,440,_15
1} PW63 48$013 _060530209040 $3,517,1,24.85
1 }PW53 53$040 060530200040 $3,517124.85
1 }PW53 48$923. Of~0530'200050 S3.326.22215
1 }PW53... 441012„ 06t~r30200t750 3.732,218.00
1}PW53..... 538049 060530290959 X7.058=440.15
2) PE45 _476058 0791(}90 $4,016,663.90
2} P~45 476053 0601000 X10,575,565.00
CERTIFICATIONS:
Submitted fnr City. Manager's Office by Fernando Costa {6122}
CJriginating Department Head:, S. Frank Crumb {8207}
Additional Information Contact: Melissa Ramon {8245}
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