HomeMy WebLinkAboutOrdinance 20021-12-2011Ordinance No.20021 -12 -2011
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE STORMWATER CAPITAL PROJECTS BOND FUND IN
THE AMOUNT OF $80,000,000.00, FROM AVAILABLE FUNDS, FOR THE
PURPOSE OF FUNDING CAPITAL IMPROVEMENTS TO THE STORMWATER
INFRASTRUCTURE SYSTEM; PROVIDING FOR 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 2011 -2012 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Stormwater Capital Projects Bond Fund in the amount of $80,000,000.00, from available funds, for the
purpose of funding capital improvements to the Stormwater 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. 19911 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ordinances and appropriations are hereby expressly repealed.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.
APPROVED AS TO FORM AND LEGALITY:
Assistant ity Attorney
ADOPTED AND EFFECTIVE: December 13, 2011
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 12113/2011 - Ordinance Nos. 20021.12,2011 & 20022.12-
2011
DATE: Tuesday, December 13, 2011
LOG NAME: 20SWBONDAPPR11
REFERENCE NO.: G -17478
SUBJECT:
Adopt Appropriation Ordinances Increasing Estimated Receipts and Appropriations by $80,000,000.00 in
the Stormwater Capital Projects Bond Fund and By $244,701.88 in the Stormwater Debt Service Fund from
Proceeds from the Sale of Stormwater Drainage Revenue Bonds, Series 2011 (ALL COUNCIL
DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt attached appropriation ordinance increasing estimated receipts and appropriations by
$80,000,000 in the Stormwater Capital Projects Bond Fund for Capital Improvements to the Stormwater
Infrastructure System, and
2. Adopt attached appropriation ordinance increasing estimated receipts and appropriations by
$244,701.88 in the Stormwater Debt Service Fund from proceeds from the sale of Stormwater Drainage
Revenue Bonds, Series 2011.
DISCUSSION:
On September 27, 2011, (M &C G- 17403) City Council approved the issuance and sale of approximately
$80,000,000 in Stormwater (Drainage) Revenue Bonds. On November 1, 2011, the sale closed and the
Bond Purchaser provided to the City $80,499,549.28. The sale proceeds are broken down as follows:
This is the third Revenue Bond sale for the Utility and will fund Stormwater Capital Infrastructure projects
scheduled in Fiscal Years 2012 and 2013. These projects include storm drain improvements, roadway
culvert improvements, erosion protection improvements and the rehabilitation or replacement of existing
Stormwater Infrastructure.
City Staff now needs to appropriate the dollars for capital projects and the dollars identified for issuance
costs into the Stormwater Capital Projects Bond Fund and the Stormwater Debt Service Fund,
respectively.
Logname: 20SWBONDAPPRI I Page 1 of 2
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinance, funds will be available in the current capital budget
of Stormwater Capital Projects Bond Fund.
FUND CENTERS:
TO F u nd/Accou nt/C enters
FROM Fund /Account/Centers
1) P227 485248 201289990100
$80,000.000.00
1) P227 541200 201289990100
$80,000,000.00
2) D149 554010 0132000
$244,701.88
CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head:
Additional Information Contact:
Douglas W. Wiersig (7801)
Joe Komisarz (2662)
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