HomeMy WebLinkAboutOrdinance 20944-09-2013 Ordinance No. 2,0944-09-2013
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN VARIOUS FUNDS IN THE AMOUNT OF $11,500,000.00,
FROM THE SALE OF CITY OF FORT WORTH, TEXAS, GENERAL PURPOSE
REFUNDING AND IMPROVEMENT BONDS, SERIES 2013, FOR THE PURPOSE OF
FUNDING VARIOUS PROJECTS IN THE 2004 AND 2008 BOND PROGRAM;
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 I
That in addition to those amounts allocated to the various City departments for Fiscal Year 201.2-2013 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Street
hnprovements Fund in the amount of $3,735,980.00, in the Park briprovernents Fund in the amount of
$2,040,000.00, and the Street Improvements 2008 Fund in the amount of$5,724,020.00, from the sale of
City of Fort Worth, Texas, General Purpose Refunding and Improvement Bonds, Series 2013, for the
purpose of funding various projects in the 2004 and 2008 bond program.
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. 204 1 1-09-20 1 2 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of said prior ordinances and appropriations are hereby expressly repealed.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:
�
As stant i Attorney i ary J. Kayset, Seer
ADOPTED AND EFFECTIVE: September 17, 2013
City of Fort Worth, Texas
Mayor and council communication
COUNCIL ACTION: Approved on 91/17/2013 - Ordinance No. 20944-09-2013'
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DATE: Tuesday, September 17, 2013 REFERENCE NO.: G-18006
LOG NAME: 1313 GO APPR
SUBJECT:
Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Street
Improvements Fund, the Park Improvements Fund and the Street Improvements 2008 Fund in the
Combined Amount of$11,500,000.00 from the Sale of City of Fort Worth, Texas, General Purpose
Refunding and Improvement Bonds, Series 2013, to Fund Projects in the 2004 and 2008 Bond Programs
(ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the Street Improvements Fund, the Park Improvements Fund and the Street
Improvements 2008 Fund in the combined amount of$11,500,000.00 from the sale of City of Fort Worth,
General Purpose Refunding and Improvement Bonds, Series 2013, for the purpose of funding projects
from the 2004 and 2008 Bond Programs.
DISCUSSION:
In February 2004, a six year bond program in the amount of $273,500,000.00 was approved by
voters. Four years later, voters approved another bond program in the amount of $150,000,000.00.
On August 20, 2013, (M&C G-17981, Ordinance No. 20877-08-2013) the City Council authorized the
parameter sale of City of Fort Worth, Texas, General Purpose Refunding and Improvement Bonds, Series
2013, in the amount not to exceed $48,000,000.00 to fund capital projects authorized for both the 2004
and 2008 Bond Programs and to refund existing callable bond debt. The bonds were sold on August 22,
2013, in accordance with the parameters set forth in the authorizing ordinance.
Because the bonds were sold at a premium, the sale in the amount of $37,130,000.00 in bonds generated
the amount of$39,109,617.90. After deducting the costs of issuance and underwriters' discount in the
amount of$323,635.89, as authorized by Ordinance No. 20877-08-2013, the City will receive the amount
of$38,785,982.01 in net usable proceeds. The bulk of this amount ($27,285,980.01) will be set aside for
the refunding of existing debt. The remaining proceeds in the amount of$11,500,000.00 will be
appropriated through the attached ordinance for use in completing remaining streets and parks bond
projects.
With the delivery of the General Purpose Refunding and Improvement Bonds, Series 2013, all of the
bonds authorized by the voters in 2004 and 2008 will have been issued by the City.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the attached appropriation
ordinance, funds will be available in the current capital budgets, as appropriated, of the Street
Improvements Fund, the Park Improvements Fund and the Street Improvements 2008 Fund.
Logname: 1.313 GO APPR Page 1 of 2
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
C200 485313 201239990100 .$3,085,172.00
C200 485313 201989990100 $650,808.00
C280 485313 801459990100
C280 485313 201989990100 $40,000.00
C204 485313 201409990100 $4,619,400.00
C204 485313 201989990100 .$1,104,620.00
C200 541200 201239990100 $3,085,172.00
C200 541200 201989990100 $650,808.00
C280 541200 801459990100 $2,000,000.00
C280 541200 201989990100 $40,000.00
C204 541200 201409990100 $4,619,400.00
C204 541200 201989990100 .$1,104,620.00
CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Jay Chapa (8517)
Additional Information Contact: Lisa Parks (6630)
Logname: 1313 GO APPR Page 2 of 2