HomeMy WebLinkAboutOrdinance 99505 ~~~'~
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ORDINANCE N0. - ~ "~ ~ b
AH ORDINANCE INCREASING THE APPROPRIATIONS OF THE AIRPORTS FUND, FUND 40,
HON-DEPARTMENTAL ACCOUNT 55-40-00 OF THE CITY OF FORT WORTH FOR THE FISCAL
YEAR 1987 BY APPROPRIATING THERETO 81,584,193 FROM THE UNRESERVED RETAINED
EARNINGS OF THE AIRPORTS FUND; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING
THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AHD REPEALING ALL PRIOR
ORDINANCES IH CONFLICT HEREWITH; PROVIDING FOR ENGROSSMENT AHD ENROLLMENT;
AMD 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 1986-87 and in the Budget of the-City
Manager, there shall also be increased.. appropriations in the City of Fort
Worth Airports Fund by appropriating thereto 81,584,193 from the unreserved
retained earnings of the airports fund and appropriating said amount to the
Non-Departmental account 55-40-00 in the Airports 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 judgement shall in no ray
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. 9690 and all
other ordinances and appropriations-amending the same except in those
instances where the provisions of this ordinance are in direct conflict uih
such other ordinances and appropriations, in rhich 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hereby expressly repealed.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.
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SEC1'IOH 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 FORPi AIdD LEGALITY:
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City Attorney
Date: ~ ~ ` `~
Adopted:
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FINANCE 1
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DATE REFERENCE SUBJECT SUPPPLEMENTAL APPROPRIATION PAGE
9/08/87 NUA48ER TO AVIATION FUND AND TRANSFER TO
1
**G-7223 CAPITAL PROJECTS RESERVE > of_-__
RECOMMENDATION
_It is recommended that the City Council
1) Approve the attached Supplemental Appropriation Ordinance, increasing
appropriations in the Airports Fund #40, non-departmental, Account #55-40-00
and decreasing total fund equity by $1,584,193, and
2) Approve the transfer of same $1,584,193 from the Airports Fund to Capital
Projects Reserve Fund, Fund #10, Project #010001, Unspecified.
DISCUSSION Sun'f, 19~
In D'n'be~l`987, the City entered into an agreement to sell Greater Southwest
International Airport (GSIA). On Flay 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 ,,~,~s to contribute to the Capital
Projects Reserve Account, earmarking thesF' s~Jecifically for repayments to the
General Fund for prior year advances. These monies would be recorded into the
Capital Projects Unspecified Account #010001-00.
The $1,584,193 GSIA sale proceeds received and recorded in the Airport Fund #40,
during fiscal year 1987 have yet to be transferred to the Capital Projects
Reserve Fund. It is recanmended that this be done at this time.
FINANCING
Sufficient cash dollars are available in the Airports Fund #40, to fund the
Supplemental Appropriation needed to transfer $1,584,193 t o the Capital Projects
Reserve Fund #10, Unspecified, Project #010001-00.
The appropriation increase will be in Account #55-40-00, Non-departmental, of the
Aviation Fund, #40. Index Code #332692 will be used. Total fund equity of the
Airports Fund will be $19,937,000 after this transfer. Net workng capital will
be $405,382 after this transfer.
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Attachment 1,~,.
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SUBMITTED FOR IMt
CITY MANAGER'S
OFFICE BY Bob Terrell
DISPOSITION BY COUNCIL.
^ APPROVED
PROCESSED BY
ORIGINATING C OTHER (DESCRIBE)
DEPARTMENT HEAD J' Bdi 1 i f.F CITY SECRETARY
FOR ADDITIONAL INFORMATIONO
CONTACT J Ba i 1 i f f ° 186 r
Ado ted ~Q5~
P OffllflBACB N0.
DATE