HomeMy WebLinkAboutOrdinance 19383-10-2010 Ordinance No. 19383-10-2010
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN VARIOUS FUNDS IN THE AMOUNT OF $21,428,710.30,
FROM THE SALE OF CITY OF FORT WORTH, TEXAS, GENERAL PURPOSE
BONDS, SERIES 2010, FOR THE PURPOSE OF FUNDING VARIOUS 2004
BOND PROGRAM PROJECTS; 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 New Development fund in the amount of $735,000.00, in the SH121T
Southwest Parkway Fund in the amount of$20,397,700.00, in the Street Improvements fund in the
amount of$47,300.00, and in the General Debt Service Fund in the amount of$248,710.30, from
the sale of City of Fort Worth, Texas, General Purpose Bonds, Series 2010, for the purpose of
funding various 2004 bond program projects.
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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
APPROVE A FOR AND LEGALITY:
ssistant City Attorney
ADOPTED AND EFFECTIVE: October 5. 2010
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 10/5/2010 . Ord. Nq. 19383-10-2010
DATE: Tuesday, October 05, 2010 REFERENCE NO.: G-17075
LOG NAME: 1310 GO APPR
SUBJECT:
Adopt an Appropriation Ordinance in the Amount of$21,428,710.30 for Proceeds from City of Fort Worth,
Texas, General Purpose Bonds, Series 2010, to Fund Projects in the 2004 Bond Program
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the amount of$21,428,710.30 from the sale of City of Fort Worth, Texas,
General Purpose Bonds, Series 2010, for the purpose of funding 2004 Bond Program projects.
DISCUSSION:
In February 2004, a six year, $273,500,000.00 bond program was approved by voters. On March 30,
2004, (M&C C-20014) the City Council authorized $125,000,000.00 in commercial paper authority to be
used as interim funding for the 2004 bond program and to show immediate benefits to the citizens who
approved the bond program.
On September 14, 2010, City Council approved the sale of$20,590,000.00 of City of Fort Worth, Texas,
General Purpose Bonds, Series 2010, to fund capital projects authorized for the 2004 Bond Program.
Because the bonds were sold in the public market at a premium, the sale generated proceeds of
$21,326,710.30 plus costs of issuance (estimated at$102,000.00)that will be appropriated through the
attached ordinance. Of the $21,428,710.30 in proceeds, $20,000,000.00 will make available previously
appropriated authority of the Commercial Paper Program.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that as a result of the sales of City of Fort Worth,
Texas, General Purpose Bonds, Series 2010, and the adoption of the 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 SH121 T Southwest Parkway Fund, the Streets
Improvement Fund, and the New Development Fund.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
C202 485210 171779990100 $20,000.00
C202 485210 061779990100 $715,000.00
C221 485210 201989990100 $397,700.00
C_200 485210_20198.9990100 $47-300.00
C221 485210 303XXXXXXXXX $20,000,000.00
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GD06 485210 0132000 $248,710.30
C202 541200 171779990100 $20,000.00
C202 541200 061779990100 $715,000.00
C221 541200 201989990100 $397,700.00
C200 541200 201989990100 $47,300.00
C221 5XXXXX 303XXXXXXXXX $20,000,000.00
GD06 554010 0132000 $102,000.00
GD06 5XXXXX 0132000 $146,710.30
CERTIFICATIONS:
Submitted for City Manager's Office by: Karen Montgomery (6222)
Originating Department Head: Lena Ellis (8517)
Additional Information Contact: James Mauldin (2438)
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