HomeMy WebLinkAboutOrdinance 20945-09-2013 Ordinance No, 20945-09-201.3
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE PUBLIC' EVENTS CAPITAL PROJECTS FUND IN THE
AMOUNT OF $11,000,000.00, FROM THE SALE OF COMBINATION TAX AND
REVENUE CERTIFICATES OF OBLIGATION, SERIES 201313, FOR THE PURPOSE
OF FUNDING VARIOUS CAPITAL IMPROVEMENT PROJECTS AT 'ME WILL
ROGERS MEMORIAL CENTER; 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 20.12-2013 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 $11,000,000.00, from the sale of Combination Tax and
Revenue Certificates of Obligation, Series 2013B, for the purpose of funding various capital improvement
projects at the Will Rogers Memorial Center.
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. 20411-09-2012 and all other ordinances and
appropriations arnendLing the sarne 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of said prior ordinances and appropriations are hereby expressly repealed.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:
rz
A i City A, o-ney 1�)DN) f�i t k?J)� Mary J. Ka set I acre
ss st
ADOPTED AND EFFECTIVE: September 17-2013
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/17/2013 Ordinance No. 20945-09-2013
DATE: Tuesday, September 17, 2013 REFERENCE NO.: G-18007
LOG NAME: 1313 WRMC CO APPR
SUBJECT:
Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Public Events
Capital Projects Fund in the Amount of$11,000,000.00 from the Sale of Combination Tax and Revenue
Certificates of Obligation, Series 20138, for the Purpose of Funding Capital Improvements to Will Rogers
Memorial Center (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the Public Events Capital Projects Fund in the amount of$11,000,000.00
from the sale of Combination Tax and Revenue Certificates of Obligation, Series 2013B, for the purpose
of funding design and construction of capital improvements to the Will Rogers Memorial Center and
paying issuance costs.
DISCUSSION:
On August 20, 2013, (M&C G-17982, Ordinance No. 20878-08-2013) the City Council authorized the
parameter sale of City of Fort Worth, Texas, Combination Tax and Revenue Certificates of Obligation
(COs), Series 20136, in the amount not to exceed $13,000,000.00 to fund capital projects. The COs were
sold on August 22, 2013, in accordance with the parameters set forth in the authorizing ordinance.
Because the COs were sold at a premium, the sale amount of$11,140,000.00 generated the amount of
$11,143,158.10. After deducting issuance costs and underwriter's discount in the amount of$143,158.10,
as authorized by Ordinance No. 20878-08-2013, the City will receive the amount of$11,000,000.00 in net
proceeds, which will be appropriated through the attached ordinance.
This financing will fund capital projects, including a promenade for campus connectivity, renovation of
cattle barns and the milking parlor and building a multi-purpose pavilion to include a covered horse
exercise arena.
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 budget, as appropriated, of the Public Events
Capital Projects Fund.
FUND CENTERS:
TO Fund/Account/Centers
Logname: 1313 WRMC CO APPR Page 1 of 2
C234 485313 0246010 $11,000,000.00 FROM Fund/Account/Centers
0234 541200 0246010 $11,000,000.00
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 WRMC CO APPR Page 2 of 2