HomeMy WebLinkAboutOrdinance 17993-02-2008Ordinance No. 17993-02-2008
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE STORM WATER CAPITAL PROJECTS 2007 REV
BONDS FUND IN THE AMOUNT OF $25,000,000 FROM THE SALE OF STORM
WATER (DRAINAGE) REVENUE BONDS, SERIES 2007 FOR THE PURPOSE
OF FUNDING CAPITAL IMPROVEMENTS TO THE STORM WATER
INFRASTRUCTURE SYSTEM, PROVIDING FOR A SEVERABILITY CLAUSE;
MAKING THIS ORDINANCE CUMULATIVE OF 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.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2007-
2008 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Storm Water Capital Projects 2007 Rev Bonds Fund in the amount of
$25,000,000 from the sale of Storm Water (Drainage) Revenue Bonds, Series 2007 for the purpose
of funding capital improvements to the Storm Water infrastructure system.
SECTION 2.
That 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
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.
That this ordinance shall 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 effect upon adoption.
AP~P~ROV~~ED AS TO FORM AND LEGALITY:
Assistant Clfy Attorney /~
ADOPTED AND EFFECTIVE: February 19, 2008
Cif ®f F®r~ ®h, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 2/19/2008 -Ord. # 17993-02-2008
DATE: Tuesday, February 19, 2008
LOG NAME: 20REVBONDAPPR REFERENCE NO.: G-16058
SUBJECT:
Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Storm
Water Capital Projects Fund for Proceeds from the Sale of Storm Water (Drainage) Revenue Bonds,
Series 2007
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations by $25,000,000.00 in the Storm Water Capital Projects 2007 Revenue Bonds
Fund for capital improvements to the Storm Water infrastructure system.
DISCUSSION:
On October 16, 2007,' (Ordinance No. 17840-10-2007) City Council authorized the issuance and sale of
$25,000,000 in Storm Water (Drainage) Revenue Bonds, Series 2007. This M&C is required to appropriate
those funds to the Storm Water Capital Project 2007 Revenue Bond Fund where they can be used for
individual projects.
This sale represents a two year Storm Water Capital project program with an estimated $12 million to be
spent in FY08 and $13 million in FY09 for design and construction of Storm Water capital
improvements. These improvements include storm drain improvements, roadway culvert improvements,
erosion protection improvements, and the rehabilitation or replacement of existing Storm Water
infrastructure.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon approval of the recommendations and adoption of the attached
appropriation ordinance, funds will be available in the Storm Water Capital Projects 2007 Rev Bonds Fund
as a result of the Storm Water (Drainage) Revenue Bond, Series 2007 Sale.
TO Fund/Account/Centers FROM Fund/Account/Centers
P229 485247 2012289990100 $25,000,000.00
Submitted for City Manager's Office b~ Fernando Costa (6122)
Originating Department Head: Robert Goode (7801)
Additional Information Contact: Joe Komisarz (2662)
Logname: 20REVBONDAPPR Page 1 of 1