HomeMy WebLinkAboutOrdinance 9743~.~
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ORDINANCE N0.
AN ORDINANCE INCREASING ESTIMATED RECEIPTS ACCRUING TO THE
GENERAL FUND OF THE CITY OF FORT WORTH FOR FISCAL YEAR
1 986-1987 BY TRANSFERRING THERETO $1 1 , 1 59.32 FROM SPECIAL
TRUST FUND 72, PROJECT NUMBER 504000-00, AND APPROPRIATING
FROM THE INCREASED ESTIMATED RECEIPTS THE SUM OF
$11,159.32 TO LIBRARY DEPARTMENT ACCOUNT NO. 84-20-01, FOR
THE PURPOSE OF FUNDING LIBRARY ACQUISITIONS; PROVIDING FOR
A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES AND REPEALING ALL PRIOR ORDINANCES IN
CONFLICT HEREWITH; PROVIDING FOR ENGROSSMENT AND ENROLL-
MENT; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That the estimated receipts accruing to the General Fund of the
City of Fort Worth for fiscal year 1986-1987 are hereby increased by
transferring thereto $11,159.32 from Special Trust Fund 72, Project
Number 504000-00; and that in addition to providing the City Manager
with such other revenue as may be secured from various sources in-
cluded in Ordinance No. 9690 and in the budget of the City Manager,
there shall also be appropriated from the increased revenues of the
General Fund the sum of $11,159.32 to Library Department Account
No. 84-20-01, for the purpose of funding the purchase of technologi-
cal, business and scientific books and periodicals for the Fort
Worth Public Library.
SECTION 2 .
Should any portion, section or part of a section of this ordi-
nance be declared invalid, inoperative or void for any reason by a
court of competent jurisdiction, such decision, opinion or 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 force and effect.
SECTION 3 .
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 with such other ordinances and appropriations, in which
instances said conflicting provisions are hereby expressly repealed.
SECTION 4.
The City Secretary be and is hereby directed to engross and
enroll this Ordinance by copying the caption and effective date of
this ordinance in the minutes of the City Council and by filing the
ordinance in the ordinance records of the city.
SECTION 5 .
That this ordinance shall take effect and be in full force and
effect from and after the date of its passage, and it is so or-
dained.
APPROVED AS TO FORM AND LEGALITY:
~~
City Attorney
Date: ~ 0 '' l~ -- ~ ~
ADOPTED: ~ -~-~
EFFECTIVE: ~Oet.~/~
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DATE NUMBER CE SUBJECT ADDIE LEVY TRUST - t PAGE
10-21-86 **G-6845 FORT WORTH PUBLIC LIBRARY CITY C ~ ~~o~~ _
`~~' ~~ X986
RECOMMENDATION
It is recommended that the City Council I~ ~~
1 . Adopt the supplemental appropriation ordinance City Secxetaxy of the
City of Foxt Wox.h, Texas
(a) increasing the appropriation in Special Trust Fund 72-504000-00,
Index Code 410043, and increasing estimated receipts by 511,159.32;
and
(b) transferring said amount to the General Fund Oi, Index Code 072058
and increasing appropriations in the General Fund, Library Depart-
ment, Account No. 84-20-01.
2. Approve the expenditures of $11,159.32 for the purchase of books within
the guidelines of the Trust.
BACKGROUND
On .7une 15, 1956, the Fort Worth Public Library was named .as one of six (6)
institutions entitled to receive either direct or in trust one-sixth of
one-half of the net residuary of Mr. Levy. The share was placed in Trust with
the Continental National Bank of Fort Worth. Each year interest earned from
the Trust is deposited. To date, accumulated interest is $28,237.81 and
expenses are $17,168.49, leaving a balance of $11,159.32 still in the trust.
The provisions of Mr. Levy's Will require 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.
All earnings will be used as prescribed by the Will.
FINANCING
A supplemental appropriation will be necessary in Special Trust Fund 72,
Project 504000-00, Addie Levy, to finance these expenditures. This will result
in an increase in appropriations in Fund 72, Project 504000-00, an increase in
estimated receipts, and an increase in the General Fund O1, Library Department
Account No. 80-20-01. The expenditure will be made from Index Code 321232.
The financing for this supplemental appropriation is derived from 1/6th of
interest income earned on the Trust's principal amount.
SUBMITTED FOR I
CITY MANAGER'S ~~ ~ - ~ ~ l
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OFFICE BY
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DISPOSITION BY COUNCIL.
PROCESSED BY
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`~ L APPROVED
ORIGINATING / C OTHER (DESCRIBE)
DEPARTMENT HEAD _ Cate Dixon ! CITY SECRETARY
FOR ADDITIONAL INFORMATION Adopted Ordinance No.
7
CONTACT Cate Dixon / 708 DATE