HomeMy WebLinkAbout(0167) REC_3_AO_STORMWATER_DEBT_REFUND_52006 (1).PDFOrdinance No.
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
STORMWATER DEBT SERVICE FUND IN THE AMOUNT OF $57,000,000.00, SUBJECT
TO THE SALE OF THE BONDS AND RECEIPT OF PROCEEDS, FOR THE PURPOSE OF
FUNDING THE REQUIRED ESCROW TO REFUND EXISTING DEBT, WITH SUCH
AMOUNT SUBJECT TO REDUCTION TO CONFORM TO FINAL FIGURES REFLECTED
IN BOND CLOSING DOCUMENTS; 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 2020-2021 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Stormwater Debt Service Fund in the amount of $57,000,000.00, subject to the sale of the bonds and receipt
of proceeds, for the purpose of funding the required escrow to refund existing debt, with such amount subject
to reduction to conform to final figures reflected in bond closing documents.
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 incorporated into the ordinance effecting the budget of the municipal government
of the City of Fort Worth for the ensuing Fiscal Year beginning October 1, 2020, and ending September 30,
2021, 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instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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:
Denis C. McElroy
Assistant City Attorney
ADOPTED AND EFFECTIVE:
Mary J. Kayser
City Secretary