HomeMy WebLinkAboutOrdinance 20502-11-2012Ordinance No, 20502 -1 1-2012
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN VARIOUS FUNDS LISTED BELOW IN THE AMOUNT OF
$116,053.35, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF BANKING AND
CONSULTANT SERVICES PROVIDED IN CONJUNCTION WITH THE CITY'S GAS
LEASE PROGRAM; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING AI.,L
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 Lake
Worth Gas Lease Capital Improvement Fund in the amount of $13,168.48; the Park Gas Lease Project Fund
in the amount of $3,189.68; the Capital Projects Reserve Fund in the amount of $18,974.18; in the Airports
Gas Lease Capital Project Fund in the amount of $27,266.98; in the Golf Gas Lease Capital Project Fund in
the amount of $2,191.54, in the Water and Sewer Gas Lease Capital Projects Fund in the amount of
$1,483.84; in the Park System Endowment Gas Lease Fund in the amount of $3,183.91; in the Water and
Sewer Endowment Gas Lease Fund in the amount of $491.76; in the Aviation Endowment Gas Lease Fund
in the amount of $27,249.62 and the General Endowment Gas Lease Fund in the amount of $18,853.36 for a
total amount of $116,053.35, from available funds, for the purpose of banking and consultant services
provided in conjunction with the City's Gas Lease 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. 20411-09-2012 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of said prior ordinances and appropriations are hereby expressly repealed.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 City Attorney J
ADOPTED AND EFFECTIVE: November 12, 2012
�
City of Fort Worth/ Texas
Mayor and Council Communication
' on 11/12/2012
DATE: Monda�Nmmmber12.2012 REFERENCE NO . G-1773S
LOG NAME: US2O5O GAS LEASE CONSULTANT FEES
SUBJECT:
Adopt Ordinance to Properly Record Fees in the Amount nf$110.05335 Paid to JPK4orgon Chose Bank,
N.A., in Fiscal Year 2011-2012 for Banking and Consultant Services Provided in Conjunction with the City's
Gas Lease Program (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in Fiscal Year 2012in the following funds inthe amount of$110.053.35from
available funds for banking and consultant services provided in conjunction with the City's Gas Lease
1. Lake Worth Gas Lease Capital Improvement Fund in the amount of $13,168.48;
2. Park Gas Lease Project Fund in the amount of$3.180.08;
3. Capital Projects Reserve Fund inthe amount of$18.074.18;
4. Airports Gas Lease Project Fund inthe amount of$27.26O.Q8;
5. Golf Gas Lease Capital Project Fund inthe amount of$2.101.54;
6. Water and Sewer Gas Lease Capital Projects FundintheomountOf$1'483.84;
7. Park System Endowment Gas Lease Fund in the amount of$3.183.01;
8. Water and Sewer Endowment Gas Lease Fund in the amount of$4Q1.76;
9. Aviation Endowment Gas Lease Fund in the amount of$27.24Q.62;and
10. General Endowment Gas Lease Fund inthe amount of$18.853.30.
DISCUSSION:
Since the inception of the City's Gas Lease Program in 2004, the City has entered into banking service
and c8nSu|kgni services contracts in support of the activities of the program. Fees associated with these
contracts have been taken from bonus and royalty revenues. PeriVdims||y, it is necessary tOappropriate
these previously approved contract fees os part Of the City's financial management activities. The action of
thisK4@yorandCounCi|Communioetion(yN&C) vvi||bei0appnJpriotethefeesforocoountingpurposeson|y
and will not further reduce gas lease program revenues.
In March 2004, the City of Fort Worth entered into an Alternative Assets Agency Account Agreement (City
Secretary Contract No. 29698) with Bank One Trust Company which was succeeded by JPMorgan Chase
Bank, N.A. for banking and leasing consultant services to be provided in conjunction with the City's Gas
Lease Program. Since 2004, the JPMorgan Chase Bank, N.A. contract has been re-negotiated and
revised nn several occasions and currently the contract provides only banking services.
In October 2008, (M&C C-23126) the City Council authorized the JPMorgan Chase banking services
contract (City Secretary Contract No. 41146)in which fees for asset management are $10'UOO.00per
month during the term of the contract.
[ogn,me: 062050 GAS LEASE CONSULTANT FB2D Page lof 3
In Fiscal Year 2011 -2012, total Gas Lease Program revenues were $23,239,128.45. For accounting
purposes only, this Mayor and Council Communication appropriates $116,053.35 for the banking and
consultant services provided as part of the Gas Lease Program through the end of Fiscal Year 2012.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that upon adoption of the attached appropriation
ordinance, funds will be available in the current capital budgets, as appropriated, of the Lake Worth Gas
Lease Capital Improvement Fund, Park Gas Lease Project Fund, Capital Projects Reserve Fund, Airports
Gas Lease Project Fund, Golf Gas Lease Capital Project Fund, Water and Sewer Gas Lease Capital
Projects Fund, Park System Endowment Gas Lease Fund, Water and Sewer Endowment Gas Lease
Fund, Aviation Endowment Gas Lease Fund and General Endowment Gas Lease Fund.
FUND CENTERS:
TO Fund /Account/Centers
C246
446200
601159990100
$13168.48
C246
531260
601159990100
$13,168.48
C282
446200
801929932500
8233
C282
531260
801929932500
$82.3 3
C282
446200
801929990300
$3,107,35
C282
531260
801929990300
$3,107.35
GC10
446200
006060001000
$18,974J8
GC10
531260
006060001000
$18,974.18
P240
446200
551929990100
$27,266.98
P240
531260
551929990100
$27,266.98
P243
446200
801929990100
$2,191.54
P243
531260
801929990100
$2,191.54
P245
446200
601149990100
$991.88
P245
531260
601149990100
$991.88
P245
446200
601149990300
$491.96
P245
531260
601149990300
$491.96
T122
446200
080192003371
$3,101.73
T122
531260
080192003371
$3,101.73
T122
446200
080192993251
$82.18
T122
531260
080192993251
$82.18
T124
446200
060124099901
$491.76
T124
531260
060124099901
$491.7 6
T125
446200
055125099901
$27,249.62
T125
531260
055125099901
$27,249.62
T127
446200
006127099901
$18,853.36
T127
531260
006127099901
$18,85336
CERTIFICATIONS:
FROM Fund /Account/Centers
Lognazne: 062050 GAS LEASE CONSULTANT FEES Page 2 of 3
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Fernando Costa (6122)
Randle Harwood (6101)
Jean Petr (8367)
Shirley Talley (2592)
Logname: 062050 GAS LEASE CONSULTANT FEES Page 3 of 3