HomeMy WebLinkAboutOrdinance 18329-10-2008Ordinance No. 18329-10-2008
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE WATER CAPITAL PROJECTS FUND IN THE
AMOUNT OF $10,575,565.00 AND $4,016,663.00 IN THE SEWER CAPITAL
PROJECTS FUND FROM IMPACT FEES FOR THE PURPOSE OF
TRANSFERRING SAID FUNDS TO THE WATER AND SEWER FUND;
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
Thai 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 Water Capital Projects Fund in the amount of $10,575,565.00 and
$4,016,663.00 in Sewer Capital Projects Fund from impact fees for the purpose of transferring said
fundls to the Water and Sewer Fund.
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
judglment shall in no way impair the remaining portions, sections, or parts of sections of this
ordiu~ance, 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 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 ROVED AS TO FORM AND LEGALITY:
Assistant Cit ftorney .
ADOPTED AND EFFECTIVE: October 7, 2008
City ®f F®rt VV®rth, Texas
iV~ayor and Council Communication
COUNCIL ACTION: Approved on 10/7/2008 -Ord. No. 18329-10-2008
DATE: Tuesday, October 07, 2008
LOG NAME: 601MPACT FEE 08
REFERENCE NO.: G-16312
SUBJECT:
Adopt Ordinance Appropriating Impact Fee Revenues in the Amount of $10,575,565.00 from the
Water Capital Projects Fund and $4,016,663.00 from the Sewer Capital Projects Fund for the
Purpose of Paying Debt Associated with Impact Fee Eligible Projects
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Water Capital Projects Fund in the amount of $10,575,565.00 and $4,016,663.00 in the Sewer Capital
Projects Fund from impact fees; and
2. Authorize the transfer of $10,575,565.00 from the Water Capital Projects Fund and $4,016,663.00 from
the Sewer Capital Projects Fund to the Water and Sewer Fund.
DISCUSSION:
During the retail cost of service studies, it was determined that the use of impact fee revenues could lower
the amount of water and sewer service revenue required to have sufficient revenues to cover Fiscal Year
2008 budgeted expenditures. While Section 35-70.9 (b) of the City Code "Use of proceeds of impact fee
accounts" prohibits use of impact fees for operating expenses, they can be used to pay principal and
interest on debt associated with projects eligible to be funded by impact fees. By transferring
$14,592,228.00 ($10,575,565.00 from Water Impact Fee revenue and $4,016,663.00 from Wastewater
Impact Fee revenue) to the Water and Sewer Fund, sufficient revenues will be available to pay principal and
interest on existing revenue bonds used to fund impact fee eligible projects.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that upon adoption of the attached appropriation
ordinance, funds are available in the current Capital Budget, as appropriated, of the Water and Sewer
Capital Projects Funds.
TO Fund/AccountlCenters
1) PW53 488023 060530200050 $7,058,440.15
1) PS58 488343 070580200040 $1.067.113.75
1) PW53 488013 060530200040 $3,517.124.85
1) PS58 488353 070580200050 $2.949.549.25
1) PW53 538040 060530200040 $3,517,124.85
1) PW53 538040 060530200050 $7,058,440.15
FROM Fund/AccountlCenters
2) PW53 538040 060530200040 $3,517,124.85
2) PW53 538040 060530200050 $7,058,440.15
2)PS58 538040 070580200040
PS58 538040 070580200050
$1,067,113.75
$2,949,549.25
Logname: 60IMPACT FEE 08 Page 1 of 2
1~ PS58 538040 070580200050 $2.949,549.25
1) PS58 538040 070580200040 $1.067,113.75
2)
2) PE45
PE45 488023
488353 0601000
0701000 $10.575.565.00
$4.016,663.00
Submitted for City Manager's Office b~ Fernando Costa (6122)
Originating Department Head: 5. Frank Crumb (8207)
Additional Information Contact: S. Frank Crumb (8207)
Logname: 60IMPACT FEE 08 Page 2 of 2