HomeMy WebLinkAboutOrdinance 19382-10-2010 Ordinance No. 19382-10-2010
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN VARIOUS FUNDS IN THE AMOUNT OF $46,568,468.44,
FROM THE SALE OF COMBINATION TAX AND REVENUE CERTIFICATES OF
OBLIGATION, SERIES 2010A, FOR THE PURPOSE OF FUNDING VARIOUS
PROJECTS FOR CAPITAL IMPROVEMENTS AND REIMBURSEMENT TO THE
NEW EQUIPMENT FUND; 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 2010-
2011 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 $1,965,000.00, ERP
Capital Project Fund in the amount of$37,931,295.10, the New Equipment Purchases Fund in the
amount of $4,155,000.00, the General Debt Service Fun in the amount of $354,915.23, the Golf
Debt Service Fund in the amount of $24,476.61, the Parking Garage Capital Project Fund in the
amount of $2,120,000.00 and in the Parking Building Debt Service Fund in the amount of
$17,781.50, for the purpose of funding various projects from the 2007 Critical Capital Needs
Program; funding costs related to Phase II of the Enterprise Resource Planning (ERP) system
allocated to the General Fund and Golf Fund; reimbursing General Fund fund balance for the
purchase of fire equipment; and capital improvement projects for the Parking Fund.
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.19355 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 TO FORM AND LEGALITY:
Assistant C y Attorney
ADOPTED AND EFFECTIVE: October 5, 2010
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 10/512010 Ord, No. 19382,40-2010
DATE: Tuesday, October 05, 2010 REFERENCE NO.: G-17074
LOG NAME: 1310 CO APPR
SUBJECT:
Adopt an Appropriation Ordinance in the Amount of$46,568,468.44 for Proceeds from the Sale of
Combination Tax and Revenue Certificates of Obligation, Series 2010A, for the Purpose of Funding
Various Projects for Capital Improvements and Reimbursement to the New Equipment Purchases Fund
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the amount of$46,568,468.44 for proceeds from the sale of Combination
Tax and Revenue Certificates of Obligation, Series 2010A, for the purpose of funding various projects
from the 2007 Critical Capital Needs Program; funding costs related to Phase II of the Enterprise
Resource Planning (ERP) system allocated to the General Fund and Golf Fund; reimbursing General
Fund fund balance for the purchase of fire equipment; and capital improvement projects for the Parking
Garage Capital Project Fund.
DISCUSSION:
On September 14, 2010, the City Council approved an ordinance authorizing the sale of$42,595,000.00
in Combination Tax and Revenue Certificates of Obligation, Series 2010A. Because the Certificates were
sold at a premium, the sale generated revenues of$46,401,468.44 plus Costs of Issuance (estimated at
$167,000.00)that will be appropriated through the attached Ordinance.
This financing will fund Critical Capital projects, including Integrated Program Management, Enhanced
Community Facilities Agreements, and Public Art. Also included in this financing are reimbursements to
the New Equipment Purchase Fund for fire equipment purchases.
In addition to capital projects listed above, the certificates will also fund capital projects for Parking and the
portions of the costs for Phase II of ERP that are allocated to the General Fund and the Municipal Golf
Fund.
The breakdown by program is as follows:
2007 Critical Capital Program $1,965,000;
'ERP - General Fund i $35,055,000;
.....____
ERP Golf Fund $2,835,000
New Fire Equipment i $4,155,000 j
Parking Fund Projects $2,120-0001
Total Sale $46,130,000;
Logname: 1310 CO APPR Page 1 of 3
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that based on the sale of the Combination Tax and
Revenue Certificates of Obligation, Series 2010A, and approval of the attached appropriation ordinance,
funds will be available in the current operating budgets, as appropriated, of the General Debt Service
Fund, the Golf Debt Service Fund, and the Parking Building Debt Service Fund, and in the current capital
budgets, as appropriated, in the 2007 Critical Capital Projects Fund, New Equipment Purchases Fund,
ERP Capital Project Fund, and Parking Garage Capital Project Fund.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
C295 485310 171779990100 $1,000.000.00
C295 485310 201719990100 $390,000.00
C295 485310 201959990100 $554,000.00
C295 485310 201989990100 $21,000.00
C296 485310 131030136180 $37,931,295.10
G193 485310 036193036100 $4,155,000.00
GD06 485310 0132000 $354,915.23
D102 485310 0132000 $24,476.61
PE62 485310 0132000 $17,781.50
P259 485310 201079990100 $2,120,000.00
C295 541200 171779990100 $1,000,000.00
C295 541200 201719990100 $390,000.00
C295 541200 201959990100 $554,000.00
C295 541200 201989990100 $21,000.00
GD06 554010 0132000 $149,061.89
D102 554010 0132000 $10,263.28
PE62 554010 0132000 $7,674.83
C296 51XXXX 131030136180 $2,237,776.00
C296 521010 131030136180 $18,340.00
C296 522030 131030136180 $1,146.00
C296 522500 131030136180 $152,977.00
C296 524010 131030136180 $42,985.00
C296 531020 131030136180 $2,012.00
C296 531450 131030136180 $21,161.00
C296 532200 131030136180 $16,379.00
C296 533120 131030136180 $12,036.00
C296 535060 131030136180 $4,893.00
C296 537100 131030136180 $825,442.00
C296 539120 1310301361_8.0 X28 129-370.10
C296 541320 131030136180 $2,598,179.00
Logname: 1310 CO APPR Page 2 of 3
C296 541440 131030136180 $3,868,599.00
P259 5XXXXX 201079990100 $2,120,000.00
G193 541360 036193036100 $4,155,000.00
GD06 5XXXXX 0132000 $230,173.34
CERTIFICATIONS:
Submitted for City Manager's Office b3c Karen Montgomery (6222)
Originating Department Head: Lena Ellis (8517)
Additional Information Contact: James Mauldin (2438)
Logname: 1310 CO APPR Page 3 of 3