HomeMy WebLinkAboutOrdinance 20042-01-2012Ordinance No. 20042 -01 -2012
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE SEWER CAPITAL PROJECT FUND IN THE AMOUNT
OF $4,016,663.00, FROM AVAILABLE FUNDS FROM IMPACT FEES, FOR THE
PURPOSE OF TRANSFERRING SAID AMOUNT TO THE WATER AND SEWER
FUND FOR PAYING DEBT ASSOCIATED WITH IMPACT FEE ELIGIBLE
PROJECTS; 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 Sewer
Capital Project Fund in the amount of $4,016,663.00, from available funds from impact fees, for the purpose
of transferring said amount to the Water and Sewer Fund for paying debt associated with impact fee eligible
projects.
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ordinances and appropriations are hereby expressly repealed.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 Cit Attorney
ADOP "IT'D AND EFFECTIVE:: January 10, 2012
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION; Approved on 1/10/2012 - Ordinance No. 20042 -01 -2012
DATE: Tuesday, January 10, 2012 REFERENCE NO.: G -17499
LOG NAME: 60IMPACT FEE 11
SUBJECT:
Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations from Impact Fee
Revenues in the Amount of $4,016,663.00 in the Sewer Capital Project Fund for Fiscal Year 2011 and
Authorize the Transfer of the Total Amount of $4,016,663.00 to the Water and Sewer Fund for the Purpose
of Paying Debt Associated with Impact Fee Eligible Projects (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Sewer Capital Project Fund in the amount of $4,016,663.00 from impact fees; and
2. Authorize the transfer of $4,016,663.00 from the Sewer Capital Project Fund to the Water and Sewer
Fund in the total amount of $4,016,663.00 for the purpose of paying debt associated with impact fee
eligible projects for Fiscal Year 2011.
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
2011 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
$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 approval of the above recommendations
and adoption of the attached appropriation ordinance, funds will be available in the current operating
budget, as appropriated, of the Water and Sewer Fund.
FUND CENTERS:
TO Fund /Account/Centers
1 )PS58 488343 070580200040
1) PS58 538040 070580200040
1) PS58 488353 070580200050
1) PS58 538040 070580200050
FROM Fund /Account/Centers
$1,067,113.00 2) PS58 538040 070580200040
$1,067,113.00 2) PS58 538040 070580200050
$2,949,550.00
$2,949,550.00
$1,067,113.00
$2,949,550.00
Logname: 60IMPACT FEE 11 Page 1 of 2
2) PE45 476058 0701000 $4,016,663.00
CERTIFICATIONS:
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Fernando Costa (6122)
S. Frank Crumb (8207)
Melissa Ramon (8245)
Logname: 60IMPACT FEE 11 Page 2 of 2