HomeMy WebLinkAboutOrdinance 26483-09-2023 (2)ORDINANCE NO. 26483-09-2023
AN ORDINANCE ADJUSTING APPROPRIATIONS IN THE WATER AND
SEWER COMMERCIAL PAPER FUND BY INCREASING APPROPRIATIONS IN
TRINITY RIVER VISION, PHASE 1 PROJECT (CITY PROJECT NO. C00969) IN
THE AMOUNT OF $1,518,400.00 AND DECREASING APPROPRIATIONS IN THE
W&S COMMERCIAL PAPER PROJECT (CITY PROJECT NO. UCMLPR) BY
THE SAME AMOUNT; 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 depaitinents for Fiscal Year 2022-2023 in the
Budget of the City Manager, there shall also be adjusted appropriations in the Water and Sewer Commercial
Paper Fund by increasing appropriations in the Trinity River Vision, Phase 1 project (City Project No.
C00969) in the amount of $1,518,400.00 and decreasing appropriations in the W&S Commercial Paper
project (City Project No. UCMLPR) by the same amount.
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 25773-09-2022 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said prior ordinances and appropriations are hereby expressly repealed.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: CITY SECRETARY
DBlack (Sep 29, 2023 12:36 CDT)
Douglas W. Black Jannette S. Goodall
Senior Assistant City Attorney City Secretary
ADOPTED AND EFFECTIVE: September 26, 2023
MAYOR AND COUNCIL COMMUNICATION MAP
6OWSTRAVA8KHAFUNDING
' PROPOSED 12-INCH L-1111
RELOCATION
PROPOSED 12-INCH
WATER LINE RELOCATION
PROPOSED 66/54-INCH
SANITARY SEWER
PROPOSED 66/60-INCH
SANITARY SEWER
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/26/23
LOG NAME: 60WSTRAVA8KHAFUNDING
SUBJECT
M&C FILE NUMBER: M&C 23-0836
(CD 2 and CD 9) Adopt a Resolution Expressing Official Intent for the City to Reimburse Itself with Proceeds of Future Debt and/or Payments from
the Tarrant Regional Water District for the Trinity River Vision — Central City Project, Adopt Appropriation Ordinance in the Amount of $1,518,400
to Fund Amendment No. 8 for Water and Sanitary Sewer Main Relocations for the Trinity River Vision - Central City Project and the Trinity Uptown
Service Area Phase 8 to Effect a Portion of Water's Contribution to and Amend the Fiscal Years 2023-2027 Capital Improvements Program,
Adopt Appropriation Ordinance in the Amount of $43,530.00 for Additional Project Costs for Storm Water and Franchise Utility Relocations for the
Trinity River Vision — Central City Project and Trinity Uptown Service Area Phase 8
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds of future debt and/or annual payments from
the Tarrant Regional Water District for the Trinity River Vision — Central City project;
2. Adopt the attached appropriation ordinance adjusting appropriations in the W&S Commercial Paper Fund by increasing appropriations in
the Trinity River Vision, Phase 1 project (City Project No. C00969) in the amount of $1,518,400.00 and decreasing appropriations in the
W&S Commercial Paper project (City Project No. UCMLPR) by the same amount to effect a portion of Water's Contribution to the Fiscal
Years 2023-2027 Capital Improvement Program;
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Specially Funded Projects Fund in the
amount of $43,530.00, from available funds, for the purpose of funding the Storm Water and Franchise Utility Relocations for the Trinity River
Vision — Central City project and Trinity Uptown Service Area Phase 8 project (City Project No. C00969); and
4. Amend the Fiscal Years 2023-2027 Capital Improvement Program.
DISCUSSION:
On June 13, 2023, the City Council authorized Amendment No. 8 in the amount of $1,418,400.00 and the Mayor and Council Communication
(M&C) authorized additional project costs for a total amount of $1,518,400.00 for the Water and Sanitary Sewer Main Relocations for the Trinity
River Vision - Central City project and the Trinity Uptown Service Area Phase 1A— Bridge and Channel Relocations project (M&C 23-0507).
The fiscal information/certification for M&C 23-0507 stipulated that there were sufficient funds available in the project at the time to fund the
$1,518,400.00. However, subsequent to its approval, it was determined by Water Department staff that the funding, in fact, was not available. It is
therefore necessary to appropriate funding in the amount of $1,518,400.00 for Amendment No. 8.
In addition, $43,530.00 is necessary to cover additional project costs for the Storm Water and Franchise Utility Relocations for the Trinity River
Vision - Central City project and the Trinity Uptown Service Area Phase 1A— Bridge and Channel Relocations.
This project will have no impact on the Water Departments operating budget when complete.
This project is anticipated to be repaid from a series of annual reimbursements from the Tarrant Regional Water District (TRWD) as part of the
Trinity River Vision — Central City Project. In the event any bond -eligible costs are not fully reimbursed by TRWD, those costs would be anticipated
to be included in a future revenue bond issue for the Water & Sewer Fund. Available cash within the Water and Sewer portfolio and the City's
portfolio along with the appropriation authority authorized under the Callable Commercial Paper Program (CP) will be used to provide interim
financing for this project until repaid by the annual payments from TRWD and/or debt is issued. Once payment is received from TRWD and/or debt
associated with the unreimbursed portions of this project is sold, those funds will be used to reimburse the Water and Sewer portfolio and the
City's portfolio in accordance with the attached reimbursement resolution. Under federal law, debt must be issued within approximately three
years in order for these expenses to be reimbursable. Adoption of the attached resolution does not obligate the City to sell bonds, but preserves
the ability of the City to reimburse itself from tax-exempt bond proceeds.
It is the practice of the Water Department to appropriate its CIP plan throughout the fiscal year, instead of within the annual budget ordinance, as
projects commence, additional funding needs are identified, and to comply with bond covenants. The actions in the M&C will appropriate funds in
support of the Water's portion of the City of Fort Worth's Fiscal Years 2023-2027 Capital Improvement Program, as follows:
60WSTRAVA8KHAFUNDING
Capital
Fund
Project
FY2023 CIP
Authority
Budget Change
Revised
FY2023
Name
Name
Appropriations
(Increase/Decrease)
Budet
9
W&S
Capital
Projects —
Fund
56002
C00969
— Trinity
River
Phase 1
$0.00
This M&C
$1,518,400.00
$1,518,400.00
Funding for the Trinity River Vision, Phase 1 project is depicted below:
Fund
Existing
Appropriations
Additional
Appropriations
Project Total*
W&S Capital
Projects - Fund
56002
$2,457,887.00
$0.00
$2,457,887.00
Specially Funded
Projects — Fund
39007
$5,809,127.94
$43,530.00
$5,852,657.94
Water Capital -
Fund 59601
$14,404,708.40
$0.00
$14,404,708.40
Sewer Capital
Legacy - Fund
59607
$7,769,673.12
$0.00
$7,769,673.12
Stormwater
Capital Projects -
Fund 52002
$0.00
$0.00
$0.00
Water/Sewer Bond
2016 — Fund
56005
$6,855,400.00
$0.00
$6,855,400.00
Water & Sewer
Bond 2015A—
Fund 56007
$6,167,422.45
$0.00
$6,167,422.45
W&S Rev Bonds
Series 2021 —
Fund 56019
$443,312.00
$0.00
$443,312.00
W&S Rev Bonds
Series 2022 —
Fund 56020
$407,022.00
$0.00
$407,022.00
W&S Commercial
Paper — Fund
56022
$0.00
$1,518,400.00
$1,518,400.00
Project Total
$44,314,552.91
$1,561,930.00
$45,876,482.91
Funding is currently available in the Commercial Paper project within the W&S Commercial Paper Fund and in Unspecified-AII Funds within the
Specially Funded Projects for the purpose of funding the Trinity River Vision, Phase 1 project.
Out of the $1,418,400.00 amendment amount, $1,175,653.00 (Water: $126,350.00; Sewer $1,049,303.00) is considered Trinity River Vision
(TRV)-related work, which is eligible for funding from Tax Increment Reinvestment Zone No. 9 (TRVA TIF) pursuant to the TRVA Project Plan.
Having met its $26.6 million commitment to the TRV Project, the City will be reimbursed the amount of $1,175,653.00 by the Tarrant Regional
Water District (TRWD) upon project completion, in accordance with the provisions of the executed Interlocal Agreement between the City and the
TRWD (City Secretary Contract No. 43425, as amended). Staff will record a receivable every month for reimbursable expenses, and the TRV
Program Manager in the Fort Worth Lab will be responsible for collecting the full reimbursement from TRWD from a series of annual
reimbursements.
This project is located in COUNCIL DISTRICTS 2 and 9.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that funds are currently available in the Commercial Paper project within the W&S Commercial Paper Fund and in
the Unspecified-AII Funds project within the Specially Funded Projects Fund, and upon approval of the above recommendations and adoption of
the attached appropriation ordinances, funds will be available in the W&S Commercial Paper Fund and the Specially Funded Projects Fund for the
Trinity River Vision, Phase 1 project. Prior to any expenditure being incurred, the Water and Transportation & Public Works Departments have the
responsibility of verifying the availability of funds.
Submitted for City Manager's Office by: Dana Burghdoff 8018
Originating Business Unit Head: Chris Harder 5020
Additional Information Contact: Liam Conlon 6824
Expedited