HomeMy WebLinkAboutOrdinance 18383-12-2008Ordinance Na. 18383-12-2{08
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE DRINKING ti'VATER STATE REVOLVING LOAN
FUND IN THE AMOUNT OF X49,865,000.00 FOR DRINKING WATER
INFRASTRUCTURE; 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 2008-
2009 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Drinking Water State Revolving Loan Fund in the amount of $49,865,000A0
far drinking water infrastructure.
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 shah 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.
SEGTION 3.
That this ordinance shall be cumulative of Ordinance No. 18283 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 ardinanees and appropriations, in which instance said
conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shalC take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
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Ass~stanf City Attorney
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pity of Farb Ulllar~h, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 121212{}08 -Ord. No. 18383-12-2008
DATE: Tuesday, December 02, 2008
LOG NAME: 60SEWER SRF 07B
REFERENCE NO.: G-16377
SUBJECT:
Adopt Appropriation C}rdinance for $49,865,000.00 from the Texas Water Development Board's
Drinking Water State Revolving Loan Fund
RECOMMENDATION:
________
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations by $49,865,000.00 in the Drinking Water State Revolving Loan Fund for
drinking water infrastructure.
DISCUSSION:
On October 24, 2006, (Resolution Nos. 3426 and 3427} the City Council authorized the filing of two
applications with the Texas Water Development Board. Resolution No. 3426 applied far loans up to
$49,865,000.00 under the Drinking Water State Revolving Fund to finance water system improvements
including the construction of a new 25 million gallon per day water treatment plant and approximately
25,000 linear feet of 36 inch water transmission lines to assist in meeting demands for quality water for itself
and its customers.
These Funds came from the Texas Water Development Board's Series 20078 Water and Sewer
Subordinate Lien Revenue Bands.
From the Series 20076 proceeds, $1,097,724.00 will be used to pay for the Texas Water Development
Board origination fees related to the bonds.
FISCAL. INFORMATIONICERTIFICATION:
The Financial Management Services Director certifies that funds are available in the Drinking Water SRF
2007 Fund as a result of the Sewer Revenue Series 20078 sale.
Td FundfAecount/Centers
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FROM Fund/Account/Centers
Submitted for City Manager's Office by
Originating Department Head:
Additional Information Contact:
Fernando costa (6122)
S. Frank Crumb (.8207)
~er7 Carson (8820)
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