HomeMy WebLinkAboutOrdinance 9700.I "k
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ORDINANCE NO.
AN ORDINANCE APPROPRIATING ADDITIONAL REVENUE OF THE CITY
OF FORT WORTH IN THE AMOUNT OF $25,000 FROM THE
UNAPPROPRIATED RETAINED EARNINGS OF THE GENERAL FUND TO
THE REAL PROPERTY MANAGEMENT DEPARTMENT, ACCOUNT NO.
161000; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AND REPEALING ALL
PRIOR ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN
EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1 .
The City Manager of the City of Fort Worth is hereby authorized
to appropriate Twenty-five Thousand Dollars ($25,000) from the
Unappropriated Retained Earnings of the General Fund and transfer it
to Real Property Management Department Account No. 161000.
SECT ION 2 .
Should any part of this ordinance be declared illegal or
invalid by law, the remaining parts of this ordinance shall be and
remain in full force and effect.
SECTION 3.
This ordinance shall be cumulative of Ordinance No. 9458
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 instances said conflicting provisions are hereby expressly
repealed.
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SECTION 4.
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
City Attorney
Date: ~ ' ~'~ _ ~ ~
ADOPTED
EFFECTIVE • ~~
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REAL P.ROF'.E
DATE REFERENCE SUBJECT M&C REQUEST FOR SUPPLEMENTAL PAGE
{1.Y.,5 NUMBER APPROPRIATION 1
8-19-86
L-8932 1 of ~.__
It is recommended that Council adopt the attached Supplemental Appropriations
Ordinance appropriating $25,000 from the General Fund Balance to the Real
Property Management Department, Account Number 16-10-00.
Discussion.
The Real Property Management Department sells City surplus property to the
public through the sealed bid process. The revenue from these sales is
deposited in the General Fund. In order for the sales to occur, the City
agrees to pay all City and County taxes and liens against the property at the
time of sale. The taxes and liens are paid out of the funds appropriated for
the Real Property Department each year.
As of July 31, 1986 revenue of $759,308 has been realized from the sale of
surplus property. This represents a 177% increase in revenues over 1985 (sales
as of July 31, 1985 totalled $428,924). The Department has paid $84,775 in
outstanding taxes and liens. An additional $25,000 is required in order to pay
the outstanding taxes and liens owed on properties whose sale will be completed
before September 30, 1986.
Financing:
A supplemental appropriation will be necessary in the General Fund O1, Account
Number 16-10-00 Real Property Management. This will result in an increase in
appropriation and a decrease in the General Fund Unreserved Fund balance. The
Unreserved Fund balance after this transfer will be $19,429,011. The
expenditure will be made from Index Code 213967 (Court Cost) and 213934 (County
and State tax).
APpROVEp gY
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SUBMITTED FOR tMt
CITY MANAGER'S /J DISPOSITION BY COUNCIL. PROCESSED BY
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OFFICE BY ^ APPROVED
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ORIGINATING [ OTHER iDESCRIBE)
DEPARTMENT HEAD: 0362
O C1TY SECRETARY
FOR ADDITIONAL INFORMATION
CONTACT M Pyles 8362 `/~'
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