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HomeMy WebLinkAboutOrdinance 16303-02-2005Ordinance No.,, ~~~~~~~ AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE WATER CAPITAL PRO,lECT FUND 1N THE AMOUNT OF $25,ddd,000 FROM INTEREST EARININGS; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR 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 far Fiscal Year 2404-2dd5 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Water Capital Project Fund in the amount of $25,ddd,ddd Pram interest earnings. SECTION 2. That should any portion, section ar part of a section of this ordinance be declared invalid, inoperative or void far any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in na way impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain in full farce and effect. SECTION 3. That this ordinance shall be cumulative of Ordinance Na. 16461 and ail 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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. R VEDA TO F~O^RM AND LEGALITY: m Assistant City Attorney ADOPTED AND EFFECTIVE: I ~ !%~.~~ Cif ®f F®r~ VI/c~r°~1~, T~~ca~ ar and ni rnrnn~cati®n COUNCIL ACTION: Approved on 2/22/2005 -Ordinance Na. 76303 DATE: Tuesday, February 22, 2005 LOG NAME: 601NTEREST REFERENCE NO.: ~`*G-74689 SUBJECT: Adopt Appropriation Ordinance far Water and Sewer Interest Fund REC©MMENDATION: It is recommended that the City Council adopt the attached, appropriation ordinance increasing estimated receipts and appropriations by $25,OOD,000.00 in the Water Capi#al Project Fund from interest earnings. ©ISCUSSION: In accordance with the ordinances that approved the sale of bonds, interest earned an bond proceeds can be used to pay debt service costs or to fund improvements as authorized by the bond ordinances. The bond ordinances authorized the expenditure of bond proceeds for improvement and extensions #o the wa#er and sewer system. Approval of this action will make available $25,000,000 of interest earnings accrued in the Water and Sewer Capital Project Funds for use in the funding of water capital improvements not previously funded with bond proceeds. FISCAL i!NFORMATIOTVlCERTIFICAT1011i': The Finance Director certifies that upon adoption of the attached appropriation ordinance, funds will be available in the current capital budget, as appropriated, of the Water Capital Projects Fund. TO Fa~rtdlAccountlCenters FROM FundlAccountlCenters P1s~ 441o1z asals~alasal $2s.oao.aao.oa P163 5412aa anal ssa159a1 ~zs.oao.ooo.oa SuE~mitted for City Manager"s Office b}~ Marc Ott (8476) Or%ginating Department Head; S. Frank Crumb (Acting} {8207) Additional Information Contact: S. Frank Crumb (Acting) {8207) Lo~name: 60INTEREST Pa€~e 1 of 1