Loading...
HomeMy WebLinkAboutOrdinance 7054 ro ORDINANCE NO. �� AN ORDINANCE AUTHORIZING THE EXECUTION OF A CONTRACT BETWEEN THE CITY OF FORT WORTH, TEXAS, AND TRINITY RIVER AUTHORITY OF TEXAS, AND LEVYING A TAX TO MAKE THE CITY'S PAYMENTS UNDER SAID CONTRACT; DECLARING AN EMERGENCY; AND PROVIDING THAT THIS ORDINANCE SHALL BE IN EFFECT FROM AND AFTER THE DATE OF ITS ADOPTION THE STATE OF TEXAS COUNTY OF TARRANT CITY OF FORT WORTH WHEREAS, it is necessary and advisable that the City of Fort Worth, Texas, enter into the Contract herein- after authorized; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: 1. That the Mayor and the City Secretary of said City are authorized and requested, for and on behalf of the City of Fort Worth, Texas, to date, sign, seal, and other- wise execute a Contract in substantially the form and substance attached hereto and made a part hereof, and said Contract shall be approved as to form and legality by the City Attorney of said City. 2. That upon execution said Contract shall be binding upon the City of Fort Worth for all purposes. 3. That during each year during the term of said Contract, the City Council of said City shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce annually the money necessary to make the payments required to be made by the City under I said Contract, and in every year said tax shall be sufficient to create a sinking fund of at least 2% as required by Article 11, Section 5, of the Texas Constitution; and said tax shall be based on the latest approved tax rolls of the City, with full allowance being made for tax delinquencies and the cost of tax collection. Said rate and amount of ad valorem tax is hereby levied, and is hereby ordered to be levied, against all taxable property in the City for each year during the term of said Contract; and said tax shall be assessed and collected each such year and used for making the aforesaid payments. Said ad valorem taxes sufficient to provide for making the aforesaid payments are hereby pledged irrevocably for such payment, within the limit prescribed by law. 4. That it is hereby officially found and deter- mined that a case of emergency or urgent public necessity exists which requires the holding of the meeting at which this Ordinance is passed, such emergency or urgent public necessity being that the execution of the proposed Contract is required as soon as possible and without delay for neces- sary and urgently needed public improvements; and that said meeting was open to the public, and public notice of the time, place and purpose of said meeting was given, all as required by Vernon's Ann. Civ. St, article 6252-17. 5. That this Ordinance shall take effect and be in full force and effect from and after the date of its passage, and it is so enacted. 1 APPRWED AS TO FORM AND LEGALITY: o � City Attorney of the City of Fort Worth, Texas TRINITY RIVER AUTHORITY OF TEXAS - CITY OF FORT WORTH SEWER SYSTEM CONTRACT THE STATE OF TEXAS KNOW ALL MEN BY THESE PRESENTS: COUNTY OF TARRANT WHEREAS, the Trinity River Authority of Texas (hereinafter sometimes called the "Authority") is a conservation and reclamation district created by Vernon's Ann. Tex. St. Article 8280-188, pursuant to Article 16, Section 59 of the Texas Constitution; and WHEREAS, the City of Fort Worth (hereinafter sometimes called the "City") is a city duly organized and existing pursuant to the constitution and laws of the State of Texas; and WHEREAS, the Authority is willing and able, in order to carry out a purpose for which it was created, to acquire, by purchase and construction, for the benefit of the City, part of a .sanitary sewer system to render sanitary sewage services to inhabitants of the City, and in connection with such acquisition to make certain improve- ments and additions to existing sanitary sewer facilities of the City (with all of such sanitary sewer facilities, including the part thereof to be acquired by the Authority, together with said improvements and additions, being hereinafter sometimes collectively called the "Project" as described in grant number WPC-Tex 964) ; and WHEREAS, the City has received approval of a grant from the Environmental Protection Agency of the United States of America to aid in constructing the Project designated WPC--Tex-964; and WHEREAS, the Texas Water Quality Board has granted and given the necessary permits in connection with the Project; and WHEREAS, the City and the Authority are authorized to make and enter into this Contract under Vernon's Ann. Tex. St., Articles 8280-188 and 1109j; IT IS THEREFORE CONTRACTED AND AGREED BETWEEN THE AUTHORITY AND THE CITY AS FOLLOWS: Section 1. DEFINITIONS. The terms and expressions used in this Contract, unless the context shows clearly otherwise, shall have meanings as follows: (a) "Project" means the Project as defined in the preamble to this Contract. (b) "Board" and "Board of Directors" means the Board of Directors of the Authority. (c) "Bond Resolution" means any resolution of the Board of Directors authorizing the issuance of Bonds and providing for their security and payment, as such resolution(s) may be amended from time to time as therein permitted. (d) "Bonds" means any bonds to be issued by the Authority for acquiring, by purchase and construction, its part of the Project, whether in one or more series or issues, or any bonds issued to refund same. Section 2. OBLIGATION OF AUTHORITY TO ACQUIRE. The Authority agrees to pay, and will pay, approximately 13% of all of the actual costs of acquiring, by purchase and construction, the Project, through the issuance of its Bonds to provide the money for such payment, all in the manner hereinafter described; and the Authority, by such payment, will thus acquire for the benefit of the City approxi- mately 13% of the Project. Section 3. OBLIGATION OF CITY TO ACQUIRE. The City agrees to pay, and will pay, approximately 87% of all of the actual costs of acquiring, by purchase and construction, the Project, from the money re- ceived by the City from the Federal grant for the Project, or from other sources available to the City, and the City, by such payment, will thus acquire approximately 87% of said Project. Section 4. AUTHORITY'S BOND RESOLUTION. The proceeds from the sale of the Bonds will be used for the payment of all of the Authority's expenses and costs in connection with the Bonds, including, without limitation, all financing, legal, printing, and other expenses and costs incurred in issuing its Bonds, plus an administrative charge to be retained by the Authority, which charge shall be equal to 1% of Bonds issued and delivered. Such Bonds will be issued in a mutually agreeable amount sufficient to cover the estimated amount of all the aforesaid expenses, costs and charges. A substantial draft of each Bond Resolution of the Authority, showing the principal amount, maturities, interest rates, the funds created, the purchaser, and other 2. pertinent features with respect to the Bonds authorized thereby, must be delivered to and be approved by the City prior to the delivery to the purchaser of any Bonds authorized by such Bond Resolution; and the approval of such draft by the City will constitute agreement by the City that all provisions of the Bond Resolution are in compliance with this Contract in all respects. Section 5. CONSULTING ENGINEERS. The Authority and the City agree that J. L. Robinson, Director, Fort Worth Water Department, shall be the "Consulting Engineer" for the Project; that the Project will be acquired by purchase and construction, in accordance with the plans and specifications which have been prepared under the super- vision of the Consulting Engineer. It is further agreed that the Consulting Engineer may be changed, but only with the agreement of both the Authority and the City. Section 6. ACQUISITION CONTRACTS. For the convenience of the Authority and the City, the City will enter into such contracts as are necessary to provide for acquiring, by purchase and construc- tion, the entire Project, and said contracts shall be advertised for and executed as required by the laws applicable to the City, and also as required by the City's grant offer from the Environmental Protection Agency. The Authority shall cause to be deposited from the proceeds from the sale of its Bonds into a special Project Acquisition Fund, at such place as is designated by the City, to the credit of the City, an amount of money which shall be specified in the Authority's Bond Resolution. The City shall draw on and use said Project Acquisition Fund to pay the costs of acquiring, by purchase and construction, the Authority's part of the Project; provided that the City agrees that expenditures from the Project Acquisition Fund must be approved by the Consulting Engineer prior to the making of such expenditures. Any amounts remaining in the Project Acquisition Fund after completion of the Project shall be deposited in the Interest and Sinking Fund established pursuant to the Authority's Bond Resolution, and thus reduce to that extent the payments required to be made by the City under the Contract. 3. Section 7. PAYMENTS BY CITY. (a) The Authority will provide, make available, and render, to and for the benefit of the City and its inhabitants, the sanitary sewer facilities and sanitary sewage services of the part of the Project paid for and acquired by the Authority pursuant to this Contract. It is agreed that the City shall have the exclusive use of the entire Project for the term of this Contract. In consideration for the Authority's acquiring, making available, and rendering to and for the benefit of the City and its inhabitants, the sanitary sewer facilities and sanitary sewage services of the Authority's part of the Project, the City agrees to make the payments hereinafter specified. As further consideration, it is agreed that the City will have the sole responsibility for operating and maintaining the entire Project for the term of this Contract, and that the City will operate and maintain the entire Project for the term of this Contract; and the City agrees to indemnify and to save and hold harmless the Authority from any and all claims, damages, losses, costs, and expenses, including reasonable attorneys' fees, arising at any time from the acquisition, existence, ownership, operation and/or maintenance of the entire Project. It is further agreed that the City's obligation to make any and all payments under Section 7(b) and (c) of this Contract will terminate when all of the Authority's Bonds issued in connection with the Project, or any Bonds issued to refund same, have been paid in full and retired and are no longer outstanding. It is hereby provided that in further consideration of the payments made by the City under this Section, the City shall become the owner of the Authority's part of the Project when all of the Authority's Bonds, or any Bonds issued to refund same, have been paid in full and retired; and the payments made by the City under this Section shall constitute the necessary periodic or installment payments required to purchase the Authority's part of the Project; and all payments to be made by the City under this Section shall be payable from and secured by pledges authorized by Section 2 4. of Vernon's Ann. Tex. St. Article 1109j, and in the manner hereinafter provided. It is further understood and agreed that the Authority's only source of funds to pay the principal of and interest on its Bonds, and to pay its expenses in connection with its Bonds and the Project, is from the payments to be made by the City to the Authority under this Contract. (b) The City agrees to make the following payments to the Authority while any of the Authority's Bonds issued in connection with the Project, or any Bonds issued to refund same, are outstanding: 1. Such amounts, payable semi-annually on or before the loth day preceding each interest payment date on the Authority's Bonds, as are necessary to pay (a) the principal and/or interest coming due on the Authority's Bonds on the next succeeding interest payment date, plus the fees and charges of the Paying Agent for paying or redeeming the Bonds and/or interest coupons appertaining thereto coming due on such date, and (b) a fixed semi- annual charge to cover and reimburse the Authority for its administrative and overhead expenses directly attributable and chargeable to the Bonds and the Project, including the cost of routine annual accounting reports, in the amount of $500 plus an annual increase of 5% of the preceding year's total payment for administrative and overhead expenses. 2. Such amounts, payable upon receipt of a statement therefor, as are necessary to pay, or reimburse the Authority for, any extraordinary or unexpected expenses or costs reasonably and necessarily incurred by the Authority in connection with the Bonds and the Project (exclusive of routine administrative expenses and costs, including the fees and charges of the Paying Agent for the Bonds, and the cost of routine annual accounting reports) such as expenses of litigation, if any, and costs of special studies and special professional services, if and when required, by any governmental directive or regulation, or as may be agreed between City and Authority. (c) If, in addition to the amount initially issued, the Authority finds it necessary to issue Bonds for the purpose of completing the Project to the extent contemplated by this Contract, all of the amounts to be paid to or retained by the Authority under all Sections of this Contract shall be increased, and such increased amounts shall at all times be sufficient to pay the principal of and interest on all such Bonds. It is understood and agreed that the only 5. source of funds for the Authority to acquire and complete its part of the Project is from the issuance and sale of its Bonds (including additional bonds) pursuant to this Contract. (d) All payments, including indemnities, required to be made by the City under this Contract shall be made from the surplus revenues of the City's combined waterworks and sewer system remaining after paying all expenses of operation and maintenance of said system and after paying all debt service, reserve, and other requirements in connection with the City's waterworks and sewer system revenue bonds now or hereafter outstanding; and said surplus revenues are hereby pledged to making such payments required under this Contract; or if said surplus revenues should not be available or sufficient at any time for making such payments, or any necessary part thereof, required under this Contract, then, to the extent required, such payments shall be made from the City's General Fund and the City's ad valorem taxes, all as hereinafter provided. The City shall make pro- vision in each annual City Budget for the payment of all amounts required to be paid by the City under this Contract. In preparing the budget the City may take into consideration the estimated surplus revenues of the City's combined waterworks and sewer system to be remaining after paying all expenses of operation and maintenance of said system and after paying all debt service, reserve, and other , requirements in connection with the City's waterworks and sewer system revenue bonds now or hereafter outstanding; and the City hereby covenants and agrees that it will fix, charge and collect rates for water and sewer services of said system in such amounts as will produce surplus revenues as aforesaid sufficient to provide for making all payments required to be made by the City under this Contract. However, to the extent that such surplus revenues are not available at any time to make such payments, then the City's ad valorem taxes in the City's General Fund shall be used to make such payments, and the proceeds of an annual ad valorem tax are hereby pledged for such 6. payments to the extent so required, in accordance with Vernon's Ann. Tex. St. Article 1109j. During the current year, and during each year hereafter, the governing body of the City shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money necessary to make all or any necessary part of such payments, including indemnities, required to be made by the City under this Contract, and in every year said tax shall be sufficient to create a sinking fund of at least 2% as required by Article 11, Section 5, of the Texas Constitution. Said rate and amount of ad valorem tax is hereby pledged to such payments, to the extent required, and it shall be assessed, levied, and collected against all taxable property in the City for each such year. Reference is hereby made to the Ordinance passed by the governing body of the City which authorizes the execution of this Contract and also levies the tax, and orders the levying of the tax, as required by this Section. (e) Recognizing the fact that the City urgently requires the facilities and services covered by this Contract, and that such facilities and services are necessary for actual use and for standby purposes; and further recognizing that the Authority will use the payments received from the City hereunder to pay, secure, and finance the issuance of the Bonds, it is hereby agreed that if and when any Bonds are delivered, the City shall be obligated to make the payments required by this Contract, regardless of whether or not the Authority actually provides such facilities and services, or whether or not the City actually receives the Federal grant, and the holders of the Bonds shall be entitled to rely on the foregoing agreement and representation, regardless of any other agreement between the Authority and the City. Section 8. COMPLIANCE WITH GRANT OFFERS. The City agrees that with respect to the Project it will fulfill and comply with all assurances made by the City in the grant offers received from the 7. " nvironmental Protection Agency and accepted by the City; and that with respect to the Project the City will discharge all of its responsibilities and comply with all of its agreements with the Environmental Protection Agency in connection with the grant offers and the Federal grants made pursuant thereto. The Authority agrees that it will join with and assist the City in complying with the fore- going commitments to the Environmental Protection Agency, subject to the provisions of this Contract. Section 9. METERING. It is understood and agreed that neither the Authority nor the City shall be under obligation to furnish, operate, or maintain metering equipment in connection with the Project under this Contract, unless metering is required by the Environmental Protection Agency. Section 10. ACQUISITION. The Authority and the City agree to proceed promptly with the acquisition, by purchase and construction, of the Project. The Authority and City hereby covenant that they will make a diligent effort to complete such acquisition as soon as practicable. The Authority and the City do not anticipate any delays in completing the acquisition of the Project, but the Authority and the City shall not be liable to each other for any damages occasioned by the acquisition or completion of the Project, or any delays in completion of the Project. Section 11. CONDITIONS PRECEDENT. The obligation on the part of the Authority to acquire its part of the Project shall be conditioned upon the following: (a) sale of Bonds in an amount sufficient to assure the acquisition of its part of the Project; and (b) the Authority's and the City's ability, or the ability of the contractors, to obtain all material, labor, and equipment necessary for the acquisition of the Project. Section 12. USE OF CITY'S PUBLIC PROPERTY. By these presents, City authorizes use by the Authority of streets and general utility or sewer easements of City for construction, operation and 8. maintenance of the Project, so long as such use by the Authority does not interfere with any lawful use by the City, and subject to all of City's Ordinances respecting the manner of such use and restoration of lands, pavement or improvements resulting from exercise of the rights provided in this Section. Section 13. FORCE MAJEURE. If, by reason of Force Majeure, any party hereto shall be rendered unable wholly or in part to carry out its obligations under this agreement then such party shall give notice and full particulars of such Force Majeure in writing to the other parties within a reasonable time after occurrence of the event or cause relied upon, and the obligation of the party giving such notice, so far as it is affected by such Force Majeure, shall be suspended during the continuance of the inability then claimed, except as hereinafter provided, but for no longer period, and any such party shall endeavor to remove or overcome such inability with all reasonable dispatch. The term Force Majeure as employed herein, shall mean acts of God, strikes, lockouts, or other industrial disturbances, acts of public enemy, orders of any kind of the Government of the United States or the State of Texas or any civil or military authority, insurrections, riots, epidemics, landslides, lightning, earthquake, fires, hurricanes, storms, floods, washouts, droughts, arrests, restraint of government and people, civil disturbances, explosions, breakage or accidents to machinery, pipelines or canals, or other causes not reasonably within the control of the party claiming such inability. It is understood and agreed that the settlement of strikes and lockouts shall be entirely within the discretion of the party having the difficulty, and that the above requirement that any Force Majeure shall be remedied with all reasonable dispatch shall not require the settlement of strikes and lockouts by acceding to the demands of the opposing party or parties when such settlement is unfavorable to it in the judgment of the party having the difficulty. It is specifi- cally excepted and provided, however, that in no event shall any Force 9. Majeure relieve the City of its obligation to make payments to the Authority as required under Section 7 of this Contract. Section 14. REGULATORY BODIES. This Contract and the Project shall be subject to all valid rules, regulations, and laws applicable thereto passed or promulgated by the United States of America, the State of Texas, or any governmental body or agency having lawful jurisdiction or any authorized representative or agency of any of them. Section 15. TERM OF CONTRACT. That the term of this Contract shall be for the period during which the Authority's Bonds, or any Bonds issued to refund same, are outstanding and unpaid. IN WITNESS WHEREOF, the Authority and the City, acting under authority of their respective governing bodies have cuased this Contract to be duly executed in several counterparts, each of which shall constitue an original, all as of the 19th day of July, 1974, which is the date of this Contract. TRINITY RIVER AUTHORITY OF TEXAS By General Manager ATTEST: Secretary, Board of Directors (SEAL) CITY OF FORT WORTH, TEXAS By Mayor ATTEST: City Secretary (SEAL) APPROVED AS TO FORM AND LEGALITY City Attorney LINE 4 City of Fort Worth, Texas 'A"'FF Mayor and Council Communication TE REFERENCE SUBJECT: Contracts with Burleson, Crowley PAGE NUMBER and Trinity River Authority for Financing4 �a '915/74 C-2908 of Village Creek Collector Extension i °r -On October 18, 1971, (M&C C-,2098), the City Council was advised of a proposed 1�1 plan to construct the Village Creek Sanitary Sewer Collector to the Burleson and Crowley Sewage Treatment Plants and the proposed method of financing, including the use of Trinity River Authority Bonds. The employment of consulting engineers was authorized to prepare plans and specifications. On February 28, 1972 (M&C CT2180) , the City Council authorized Sanitary Sewer Service Contracts with. Burleson and Crowley, and execution of an agree- ment with the Trinity River Authority for a loan to aid in financing of the Village Creek Sewer Extension to Burleson and Crowley. Under the provisions of the contracts with the two cities, Burleson and Crowley were to share in the repayment of the Trinity River Authority loan, with Burleson to pay 74 per cent of the semi-annual payments required to repay the loan, and the City of Crowley to repay the remaining 26 per cent of the semi-annual payments required for the loan retirement. At that time, it was necessary for the City of Fort Worth to enter into an agreement with the Trinity River Authority for a loan in the amount of 25 per cent of the project cost in order to qualify the City for a 55 per cent federal grant. Therefore, based on the then estimated eligible project cost of $2,080,000, it was anticipated that the TRA loan to be repaid by the cities of Burleson and Crowley would amount to $520,000. Passage of Public Law 92-500, known as the 1972 Amendments to the Water Pollution Control Act, entitled the City of Fort Worth to a 75 per cent grant to apply toward construction of the Village Creek Collector Sewer Extension to Burleson and Crowley. An immediate application was made for increase of the federal grant obtained for the Village Creek Collector Sewer Extension to $1,591,500, which was 75 per cent of the estimated eligible project cost of $2,122,000 at that time. The increase in federal grant was accepted by the City in the increased amount of $1,591,500 on January 9, 1973. On November 5, 1973 (M&C C-2649), the City Council approved award of a contract for the Village Creek Collector Sewer, Section 2, which was the final segment of the Collector Sewer System Extension to Burleson and Crowley. At that time, based on all bids received and contracts awarded, it was anticipated that the total project cost, exclusive of right-of-way, which is ineligible for federal participation, would be $2,132,000. There- fore, it was necessary to apply for an increase in the federal grant from $1,591,500 to $1,756,500, which would represent 75 per cent of the antici- pated increased eligible project cost of $2,132,000. However, due to the severe competition for federal funding under Public Law 92-500, it was not anticipated that the increase in federal grant would be received, and the Council was advised in M&C C-2649 that the adjusted estimated project DATE REFERENCE SUBJECT: Contracts with Burleson, Crowley PAGE NUMBE9/5/74. C-2908 and Trinity River Authority for Financing 2 ,f 4 of Vill age Creek GolleGter Extension cost share for Burleson and Crowley would be approximately $430,925. Assuming that the increased federal grant was not obtained, the Burleson and Crowley share of the estimated project cost at the time of approval of M&C C-2649 was $430,925, leaving the City of Fort Worth's project cost at $352,575. Subsequently, the requested increase in the federal grant amount to $1,756,500 was approved by EPA and accepted by the City of Fort Worth on November 21, 1973. Based on this amended federal grant participation, the Crowley and Burleson share of the net project cost was recomputed and determined to be $355,065. Based on the sharing of costs contained in the original contracts between the City of Fort Worth and the Cities of Burleson and Crowley, Burleson's 74 per cent share of this estimated project cost was $262,748, and Crowley's 26 per cent share was $92,317. The two cities were advised by letter of the reduction in their project cost, and it was suggested that the contracts between the City of Fort Worth and the cities of Burleson and Crowley be amended to reflect the lesser amount of project cost participation required by virtue of the increase in the federal grant participation. After review of the amended information, the City of Crowley determined that they wished to pay all but $50,000 of their project cost share in cash, setting their loan requirements at $50,000. Added to the City of Burleson loan share of $262,748, this made a loan requirement total of $312,748. The percentage of participation of the two cities in the semiannual loan payments would thus be changed to Burleson, 84 per cent and Crowley, 16 per cent, Accordingly, amendments to the contracts between the City of Fort Worth and the Cities of Burleson and Crowley were prepared to reflect the facts that the loan to be obtained from TRA would amount to approximately 13 per cent of the project cost of the Village Creek Collector Sewer Extensions to Burleson and Crowley, and that the City of Crowley's share of the semi-annual payments required for repayment of that loan would be 16 per cent, while the City of Burleson's share of such payments would be 84 per cent. These contract amendments have been submitted to and approved by the governing bodies of the City of Crowley and the City of Burleson, and are now submitted for approval by the City Council of the City of Fort Worth. To recapitulate, the following tabulation is presented to represent the anticipated final participation costs and the estimated total project cost of the Village Creek Collector Sewer Extension to Burleson and Crowley. DATE REFERENCE SUBJECT: Contracts with Burleson, Crowley7PA13ENUMBER and Trinity River Authority for Financin9/5/74 C-2908 of Village Creek Collector Extension �-- Total Estimated Project Cost (including right-of-way at $33,000) $2,402,073.13 Less the Federal Grant as accepted on November 21, 1973 $1,756,500.00 Net estimated project cost $ 645,573.13 Less Fort Worths share of the project cost at 45 percent $ 290,507.91 Net Burleson and Crowley's estimated share of the project cost $ 355,065.22 Less $42,316.96 to be paid by Crowley in cash $ 42,316.96 Net amount of TRA loan requirement $ 312,748.26 In order to cover the cost of preparing and selling bonds, the amount of the loan to be obtained from TRA is $325,000. The contract between the City of Fort Worth and the Trinity River Authority will require sale by the Authority of bonds in the amount of $325,000, with $315,000 to be delivered to the City of Fort Worth, leaving approximately $10,000 to defray the costs of issuance of bonds by the Trinity River Authority of Texas. The bonds will provide for an interest rate of 6 3/4 per cent for maturities 1976 through 1985, and 7 per cent for maturities 1986 through 1995, with the bonds to be retired in 1995. The bonds are subject to redemption at any time on or after August 1, 1984, but such premature redemption would require substantial penalties through August 1, 1988, After that time they may be redeemed without penalty. Therefore, it is not anticipated that the bonds will be redeemed prior to their normal maturity date. Recommendation It is recommended; 1) An ordinance be adopted to authorize a Waste Disposal Contract with the Trinity River Authority of Texas and that a resolution be adopted to approve the bond resolution of the Authority pursuant to the contract; and 2) The amendment in the contract between the City of Fort Worth and the City of Crowley (City Secretary No. 7064), and the amendment in the contract between the City of Fort Worth and the City of Burleson (City Secretary No. 7065), be approved, changing the percentage of the project cost to be financed by 1 DATE REFERENCE SUBJECT: Contracts with Burleson, Crowley PAGE NUMBER and Trinity River Authority for Financing 9/5/74 C--2908 of Village Creek Collector Extension 4 °f 4 a TRA loan, and changing the percentage of each city`s partici- pation in the semiannual payments required to retire that loan. RNL/f SUBMITTED BY: DISPOSITIO COUNCIL: PRO Y APPROVED ❑ OTHER (DESCRIBE) GJ) lt�41at )1,lalloe, CITY SECRETARY DATE CITY MANAGER i/��