HomeMy WebLinkAboutOrdinance 22456-10-2016 Ordinance No. 22456-10-2016
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS BY A
COMBINED TOTAL OF$192,000.00 IN THE AVIATION GAS LEASE CAPITAL PROJECTS
FUND, AVIATION ENDOWMENT GAS LEASE FUND, GENERAL GAS LEASE CAPITAL
PROJECT FUND, GENERAL ENDOWMENT GAS LEASE FUND, PAC GAS LEASE
PROJECTS FUND, PAC ENDOWMENT GAS LEASE FUND; MUNICIPAL GOLF GAS
LEASE CAPITAL PROJECT FUND, LAKE WORTH GAS LEASE CAPITAL PROJECTS
FUND, WATER AND SEWER GAS LEASE CAPITAL PROJECTS FUND; AND THE
WATER AND SEWER ENDOWMENT GAS LEASE FUND, ALLOCATED
PROPORTIONATELY, TO PROPERLY RECORD FEES PAID TO WELLS FARGO BANK,
N.A, IN FISCAL YEAR 2016 FOR BANKING AND MINERAL-LEASE-ADMINISTRATION
SERVICES; PROVIDING A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE
CUMULATIVE OF PRIOR ORDINANCES, REPEALING ALL 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 2015-2016 in the
Budget of the City Manager,there shall also be increased estimated receipts and appropriations in a combined
total of$192,000.00 in the Aviation Gas Lease Capital Projects Fund, the Aviation Endowment Gas Lease
Fund, the General Gas Lease Capital Project Fund, the General Endowment Gas Lease Fund, the PAC Gas
Lease Projects Fund, the PAC Endowment Gas Lease Fund, the Municipal Golf Gas Lease Capital Project
Fund, the Lake Worth Gas Lease Capital Projects Fund, the Water and Sewer Gas Lease Capital Projects
Fund; and the Water and Sewer Endowment Gas Lease Fund, to properly record fees paid to Wells Fargo
Bank N.A., in fiscal year 2016 for banking and mineral-lease-administration services, with each fund being
allocated its proportionate share of the total cost based on the relative percentage that mineral revenues for
that fund for the year bear to the total mineral revenues received for the year.
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 orjudgment 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. 21873-09-2015 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.
APP VEDO FORM AND LEGALITY: CI SECRETARY
�c�
DenisI yZECTIVE:
sistant City Attorney ary J. Kay
ADOPTED AND October 11, 2016
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 10/11/2016 - Ordinance No. 22456-10-2016
DATE: Tuesday, October 11, 2016 REFERENCE NO.: **G-18846
LOG NAME: 21 GAS LEASE CONSULTANT FEES FY2016
SUBJECT:
Adopt Ordinance Increasing Appropriations in Multiple Funds by a Combined Total Amount Up to
$192,000.00, Allocated Proportionately, to Properly Record Fees Paid to Wells Fargo Bank, National
Association, for Banking and Mineral-Lease-Administration Services Provided in Fiscal Year 2016 Under
City Secretary Contract No. 45281 (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance, increasing estimated
receipts and appropriations in Fiscal Year 2016 in the identified funds by a combined total amount up to
$192,000.00, allocated proportionately, to properly record fees for banking and mineral-lease-
administration services provided in conjunction with management of the City-owned mineral interest
properties under Fort Worth City Secretary Contract No. 45281:
1. Aviation Gas Lease Capital Projects
2. Aviation Endowment Gas Lease
3. General Gas Lease Capital Project
4. General Endowment Gas Lease
5. Lake Worth Gas Lease Capital Projects
6. PAC Endowment Gas Lease
7. PAC Gas Lease Capital Projects
8. Municipal Golf Gas Lease Capital Project
9. Water/Sewer Endowment Gas Lease
10. Water/Sewer Gas Lease Capital Projects
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to appropriate funds for the costs of
banking and mineral-lease-administration services, with each participating fund being allocated its
proportionate share of the total cost based on the relative percentage that mineral revenues for that fund
for the year bear to the total mineral revenues received during the year.
In December 2012, the City Council approved an Agreement with Wells Fargo Bank, National Association
(Wells Fargo), to provide banking and trust services associated with the collection and management of the
City-owned mineral interest revenues from multiple gas companies (M&C P-11467; City Secretary
Contract No. 45281). The Agreement has a term of five years, with the fee for banking and mineral-lease-
administration services set at $16,000.00 per month.
In accordance with the terms of the Agreement and the current Financial Management Policy Statements,
the banking fee is proportionately taken on a monthly basis from the various funds outlined above. For
accounting purposes only, this M&C officially appropriates funds associated with the fees for Fiscal Year
2016 to the various funds for the banking and mineral-lease-administration services provided by Wells
Logname: 21 GAS LEASE CONSULTANT FEES FY2016 Page 1 of 2
Fargo. In accordance with the terms of the contract, Wells Fargo has paid itself throughout the
year. Thus, approval of this M&C does not further reduce the mineral revenues in Fiscal Year 2016.
Because the expenditures were incurred during Fiscal Year 2016, that is the period in which they will be
appropriated and accounted for. The final actual allocations will be determined by the Mineral
Management Section of the Property Management Department and the associated accounting entries will
be recorded.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION /CERTIFICATION:
The Director of Finance certifies that upon adoption of the attached appropriation ordinance, funds will be
available in the Aviation Gas Lease Capital Projects, Aviation Endowment Gas Lease, General Gas Lease
Capital Project, General Endowment Gas Lease, Lake Worth Gas Lease Capital Projects, PAC
Endowment Gas Lease, PAC Gas Lease Capital Projects, Municipal Golf Gas Lease Capital Project,
Water/Sewer Endowment Gas Lease and Water/Sewer Gas Lease Capital Projects.
FUND IDENTIFIERS (FIDs):
TO
Fund Department Accoun Project Program ctivity Budget Reference # moun
ID IDYear Chartfield 2
FROM
Fund Department ccoun Project Program ctivity Budget Reference # �mounl
ID ID Year Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Jay Chapa (5804)
Originating Department Head: Steve Cooke (5134)
Additional Information Contact: Jean Petr (8367)
Logname: 21 GAS LEASE CONSULTANT FEES FY2016 Page 2 of 2