HomeMy WebLinkAboutOrdinance 19408-10-2010 Ordinance No. 19408-10-2010
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS
IN THE PUBLIC EVENTS CAPITAL PROJECTS FUND IN THE AMOUNT OF
$33,785,120.26 AND IN THE CONVENTION CENTER DEBT SERVICE FUND IN THE
AMOUNT OF $1,045,089.78, FROM THE SALE OF COMBINATION TAX AND REVENUE
CERTICATES OF OBLIGATION, FOR THE WILL ROGERS IMPROVEMENTS;
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
Public Events Capital Projects Fund in the amount of $33,785,120.26 and in the Convention Center Debt
Service Fund in the amount of$1,045,089.78, from the Sale of Combination Tax and Revenue Certificates
of Obligation, Series 2010, and Accrued Interest,for the Will Rogers Improvements.
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ordinances and appropriations are hereby expressly repealed.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 A FORM L
Assistatfftity Afiop6ey,'
ADOPTED AND EFFECTIVE: October 2010
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 1 011 2120 1 0, - Ord.
DATE: Tuesday, October 12, 2010 REFERENCE NO.: C-24538
LOG NAME: 25WRMCAPPROPRIATION/DESIGNDEVELOPMENT
SUBJECT:
Adopt an Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Public Events Capital
Projects Fund in the Amount of$33,785,120.26 and in the Convention Center Debt Service Fund in the Amount of
$1,045,089.78, from the Sale of Combination Tax and Revenue Certificates of Obligation, Series 2010, and Accrued
Interest, for the Will Rogers Improvements, and Authorize a Design Procurement Agreement in an Amount Up to
$1,350,000.00 with Events Facilities Fort Worth, Inc.
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Public Events Capital Projects Fund in the amount of$33,785,120.26 and in the Convention Center Debt
Service Fund in the amount of$1,045,089.78, from the sale of Combination Tax and Revenue Certificates
of Obligation, Series 2010, and accrued interest, for the Will Rogers Improvements; and
2. Authorize the City Manager to execute a design procurement agreement in an amount up to
$1,350,000.00 with Event Facilities Fort Worth, Inc.
DISCUSSION:
On June 22, 2010, (M&C G-16967) the City Council adopted the ordinance providing for the issuance of
City of Fort Worth, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2010 in an
aggregate principal amount not to exceed $34,685,000.00; establishing parameters regarding the sale of
the Certificates of Obligation (CO); approving the execution of a Purchase Agreement and ordaining other
matters relating to the subject. The amount available for funding was increased due to accrued interest in
the amount of$145,210.04 resulting in total funds for the project of$34,830,210.04.
Amount of Bonds: $34,685,000.00
Accrued Interest from 6/15-7/27/10 $145,210.04
Total: $34,830,210.04
The estimated costs included the development, design, construction and equipping of a multi-purpose
facility located in the Will Rogers Memorial Center including the modification, renovation and improvement
of a parking garage and related infrastructure and utilities; the modification, renovation and improvement
of livestock/equestrian/events facilities; the construction of one or more building tunnels and connector
canopies; the purchase and installation of a security system, landscaping, communications systems,
lighting systems; the purchase of furnishings, fixtures, equipment and system related thereto; public art
enhancements; as well as the costs of financing and capitalized interest and other related
expenses. Proposals for the new construction of the Multi-Purpose Facility were received on September
16, 2010 and are currently being evaluated. Construction is expected to begin on the facility in February
Logname: 25WRMCAPPROPRIATION/DESIGNDEVELOPMENT Page 1 of 2
2011.
Event Facilities Fort Worth, Inc., (EFFW) provided certain services related to long term planning for the
Will Rogers Memorial Complex, including retaining an architect and other professional disciplines
including engineering services for the design of utilities, roads, drainage, surveyors, geotechnical labs,
parking system consultants, landscape architects, and project management necessary to perform the
design of a new Multi-Purpose Equestrian and Parking Facility structure to be located on City owned
property at the Will Rogers Memorial Complex. EFFW agreed to provide such services in support of the
WRMC campus and various events on behalf of the long term planning for the campus by EFFW. The
City has agreed to reimburse EFFW an amount up to $1,350,000 for actual costs.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinance, funds will be available in the current capital budget,
as appropriated, of the Public Events Capital Projects Fund and in the current operating budget, as
appropriated, of the Convention Center Debt Service Fund.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
1) C234 485810 241069990100 $33,785,120.26 2) C234 531200 247060162730 $1,350,000.00
1) D100 485810 0132000 $145,210.04
1) D100 552010 0132000 $885,089.78
1) D100 554010 0132000 $160,000.00
1) C234 511060 247060162730 $10,000.00
1) C234 511080 247060162780 $75,000.00
1) C234 531060 247060162730 $20,000.00
1) C234 531060 247060162780 $300,000.00
1) C234 531200 247060162730 $1,654,235.00
1) C234 535020 247060162770 $858,250.00
1) C234 539120 247060162730 $185,275.00
1) C234 541200 247060162780 $27,013,367.26
1) C234 541330 247060162780 $3,175,700.00
1) C234 541200 247060162790 $493,293.00
1) D100 485810 0132000 $899,879.74
CERTIFICATIONS:
Submitted for City Manager's Office by. Thomas Higgins (6192)
Originating Department Head: Kirk Slaughter (2501)
Additional Information Contact: Betty Tanner (2502)
Logname: 25WRMCAPPROPRIATION/DESIGNDEVELOPMENT Page 2 of 2