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Home My WebLink AboutOrdinance 20379-09-2012Ordinance No. 20379 -09 -2012 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN VARIOUS FUNDS IN THE AMOUNT OF $98,315,060.00, FROM THE SALE OF CITY OF FORT WORTH, TEXAS, GENERAL PURPOSE REFUNDING AND IMPROVEMENT BONDS, SERIFS 2012, FOR THE PURPOSE OF FUNDING VARIOUS PROJECTS IN THE 2004 AND 2008 BOND PROGRAM; 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 Street Improvements Fund in the amount of $15,344,060.00, in the SH121T Southwest Parkway Fund in the amount of $1,500,000.00, in the New Development Fund in the amount of $185,000.00, in the Street Light and Signal Improvements Fund in the amount of $750,000.00 and the Street Improvements 2008 Fund in the amount of $80,536,000.00, from the sale of City of Fort Worth, Texas, General Purpose Refunding and Improvement Bonds, Series 2012, for the purpose of funding various projects in the 2004 and 2008 bond program. 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 -09 -2011 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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. Ai' VED A Tn FORM AND LEGALITY: Assistant City At me ADOPTED AND EFFECTIVE: Sotember 11, 2012 City of Fort Worth, Texas Mayor and Council Communication �COIIJNC 10 Approyed6rv,911�1/2011�,,,.,,Oidinance� d;,,, DATE: Tuesday, September 11.2O12 REFERENCE NO.: G-17660 LOG NAME: 1312 GO APPR Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Street Improvements Fund, the SH121T Southwest Parkway Fund, the New Development Fund, the Street Light and Signal Improvements Fund and the Street Improvements 20O8 Fund in the Combined Amount nf $98.315.0OODO from the Sale of General Purpose Refunding and Improvement Bonds, Series 2012, to Fund Projects inthe2O04and20U8BondPrVQramsA\LLCOUNC|LO|STFl|CTS\ It is recommended that the City DISCUSSION: receipts and appropriations in the Street Improvements Fund, the SH121T Southwest Parkway Fund, the New Development Fund, the Street Light and Signal Improvements Fund, and the Street Improvements 2008 Fund in the combined amount of $98,315,060.00 from the sale of General Purpose Refunding and Improvement Bonds, Series 2012, for the purpose of funding projects from the 2004 and 2008 Bond |n February 2O04.a six year, $273,500,000.00 bond program was approved bvvoters. Four years later, voters approved another bond program in the amount of $150,000,000.00. On July 24,2012.(MQC G-17637)City Council authorized the parameter sale of City nf Fort Worth, Texas, General Purpose Refunding and Improvement Bonds, Series 2012, in an amount not to exceed $1O2.O0O.00O.00tofund capital projects authorized forboth the 2004 and 2008 Bond Programs and to refund two future balloon payments. The bonds were sold nn Wednesday, August 22,2012inaocordance with the parameters set forth in the authorizing ordinance approved on July 24, 2012. Because the bonds were sold in the public market ata premium, the sale of$155,485.000inbonds generated $159.811'190.85. After deducting the costs of issuance and underwriters' discount, the City will receive $158.752.O91.2Oin net usable proceeds. Approximately $6O million 0f this amount will heset aside for the refunding of existing debt. The remaining proceeds of $98,315,060.00 will be appropriated through the attached ordinance. FISCAL INFORMATION / CERTIFICATION: The Financial Management Services Director certifies that as a result of the sales of City of Fort Worth, Texas, General Purpose Refunding and Improvement Bonds, Series 2O12. and the adoption ofthe attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, of the General Debt Service Fund, and the current capital budgets, as appropriated, of the Street Improvements Fund, the SH121T Southwest Parkway Fund, the New Development Fund, the Street Light and Signal Improvements Fund. and the Street Improvements 2008 Fund. FUND CENTERS: TO Fund /Account/Centers FROM Fund /Account/Centers C200 485312 201239990100 $13,344,419.00 C200 485312 201399990100 $499,641.00 C200 485312 201989990100 $1,500,000.00 C202 485312 171779990100 $185,000.00 C201 485312 201329990100 $750,000.00 C221 485312 201219990100 $1,500,000.00 C204 485312 201219990100 $800,000.00 C204 485312 201239990100 $52,500,000.00 C204 485312 201399990100 $2,000,000.00 C204 485312 201409990100 $21,736,000.00 C204 485312 201719990100 $2,500,000.00 C204 485312 201989990100 $1,000,000.00 GD06 485312 0132000 $435,402.17 C200 541200 201239990100 $13,344,419.00 C200 541200 201399990100 $499,641.00 C200 541200 201989990100 $1,500,000.00 C202 541200 171779990100 $185,000,00 C201 541200 201329990100 $750.000.00 C221 541200 201219990100 $1,500,000.00 C204 541200 201219990100 $800,000.00 C204 541200 201239990100 $52,500,000.00 C204 541200 201399990100 $2,000,000.00 C204 541200 201409990100 $21,736,000.00 C204 541200 201719990100 $2,500,000.00 C204 541200 201989990100 $1,000,000.00 CERTIFICATIONS: Submitted for City Manager's Office by: Susan Alanis (8180) Originating Department Head: Lena Ellis (8517) Additional Information Contact: James Mauldin (2438) Logname: 1312 GO APPR Page 2 of 2