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Home My WebLink AboutOrdinance 17432-03-2007Ordinance No. 17432-03-2007 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE 2007 CRITICAL CAPITAL PROJECTS FUND IN THE AMOUNT OF $42,325,000 FROM THE SALE OF COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2007 (JANUARY 9, 2007, M&C G-15571, ORDINANCE NO. 17362-01-2007) FOR THE PURPOSE OF FUNDING CRITICAL CAPITAL PROJECTS SPECIFIED IN SUCH ORDINANCE; 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 2006- 2007 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the 2007 Critical Capital Projects Fund in the amount of $42,325,000 from the sale of Combination Tax and Revenue Certificates of Obligation, Series 2007 (January 9, 2007, M&C G- 15571, Ordinance No. 17362-01-2007) for the purpose of funding critical capital projects specified in such ordinance. 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. 17142 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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: ~~~a~. _ Assistant City Attorney .ADOPTED AND EFFECTNE: March 6 2007 Cr--1562/ Coty ®f Fort V~orth, ?"exas Mayor and Council Communication COUNCIL ACTION: Approved on 3/6/2007 -Ordinance No. 17431-03-2007 & 17432-03-2007 DATE: Tuesday, March 06, 2007 LOG NAME: 03BONDS07APPROP REFERENCE NO.: G-15621 SUBJECT: Adopt Appropriation Ordinances Increasing Estimated Receipts and Appropriations in the Parking Garage Fund and in the 2007 Critical Capital Projects Fund for Proceeds from the Sales of Certificates of Obligation, Series 2007 RECOMMENDATION: 1. It is recommended that the City Council adopt an appropriation ordinance increasing estimated receipts and appropriations by $22,030,000.00 in the Parking Garage Fund from available funds; and 2. Adopt an appropriation ordinance increasing estimated receipts and appropriations in the amount of $42,325,000, in the 2007 Critical Capital Projects Fund for the following Capital Improvement Programs: Fire Stations throughout the City $1,410,000.00 Public Health Center $4,794,000.00 Nashville Police Station $357,000.00 Transportation Grant Matches $6,681,000.00 Traffic Signal Improvments $1,836,000.00 Neighborhood Street Reconstruction $6,308,000.00 Premature Street Failures $2,040,000.00 Southwest Parkway (SH121T) Tollway $18,899,000.00 TOTAL 2007 SERIES $42,325,000.00 DISCUSSION: The purpose of this M&C is to appropriate the proceeds of the sales of Certificates of Obligation (CO), Series 2007 for the projects listed above. On January 9, 2007, M&C G-15572 (Ordinance No. 17363-01-2007) the City Council authorized the sale of $22,030,000.00 Combination Tax and Parking Revenue Certificates of Obligation, Series 2007 for the purpose of the construction and equipping of a parking garage in the vicinity of the Fort Worth Convention Center, and the payment of fiscal, engineering and legal fees related to the project, as approved by the City Council in M&C G-15540 on December 19, 2006. Also on January 9, 2007, M&C G-15571(Ordinance No. 17362-01-2007), the City Council authorized the sale of $42,325,000.00 Combination Tax and Revenue Certificates of Obligation, Series 2007 for the purpose of funding a part of the Critical Capital Needs Program identified by staff and presented to the City Logname: 03BONDS07APPROP Page 1 of 3 Council on December 11, 2006. The proceeds will fund design costs, land acquisition., construction and equipping of (i) fire stations throughout the City, (ii) the Nashville police station, and (iii) a public health center owned and operated by the City; the construction of street improvements (including freeway interchanges, and arterial access) and related drainage and sidewalk improvements throughout the City, and the acquisition of related traffic and communications equipment; the acquisition of equipment with respect to traffic safety programs of the City; the reconstruction of streets and related drainage and sidewalk improvements throughout the City; and the payment of fiscal, engineering and legal fees, as approved by the City Council in M&C G-15539 on December 19, 2006. FISCAL INFORMATION/CERTIFICATION: The Finance Director certifies that funds are available as a result of the sale of Certificates of Obligation for the recommended appropriations. TO Fund/Account/Centers FROM Fund/Account/Centers C295 485227 361119990100 $1,400.000.00 C295 485227 501969990100 $4,700,000.00 C295 485227 351099990100 $350.000.00 C295 485227 201219990100 $250.000.00 C295 485227 301219990100 $18.725.000.00 C295 485227 201239990100 $5,500,000.00 C295 485227 201399990100 $200.000.00 C295 485227 201749990100 $200,000.00 C295 485227 201759990100 $200.000.00 C295 485227 201719990100 $2,000,000.00 C295 485227 201409990100 $6,185,000.00 C295 485227 031989990100 $615,000.00 C295 541200 361119990100 $1,400.000.00 C295 541200 501969990100 $4,700,000.00 C295 541200 351099990100 $350.000.00 C295 541200 201219990100 $250,000.00 C295 541200 301219990100 $18.725.000.00 C295 541200 201239990100 $5,500,000.00 C295 541200 201399990100 $200,000.00 C295 541200 201749990100 $200.000.00 C295 541200 201759990100 $200,000.00 C295 541200 201719990100 $2.000,000.00 C295 541200 201409990100 $6.185,000.00 C295 541200 031989990100 $615,000.00 C295 485227 201249990100 $2,000.000.00 C295 541200 201249990100 $2,000,000.00 Logname: 03BONDS07APPROP Page 2 of 3 P259 485217 301079990100 $22.030.000.00 P259 541200 301079990100 $22.030.000.00 Submitted for City Manager's Office b~ Suzie Wagner (7806) Originating Department Head: Bridgette Garrett (8518) Additional Information Contact: Suzie Wagner (7806) Logname: 03BONDS07APPROP Page 3 of 3