HomeMy WebLinkAboutOrdinance 20943-09-2013 Ordinance Nu
AN' ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS DV THE VARIOUS FUNDS LISTED 0N" 3ECTIDN ONE ONTHE
AMOUNT OF $48.895,000.00, FROM THE SALE DF COMBINATION TAX AND
REVENUE CERTIFICATES OF OBLIGATION, SERIES 2Ol3A, FOR THE PURPOSE
OF FUNDING VARIOUS CAPITAL IMPROVEMENT PROJECTS AND
REIMBURSEMENT 7OTHE NEW EOU���� P0DC8�SB� FD�)' P8OVD}[NG
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FOR ASBV£8NF]lLD'yCLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT
BE05W[[8', AND PROVIDING AN EFFECTIVE DATE.
UBlTOkDAJNBDBy THE CITY COUNCIL 0F THE CITY OF FORT WORTH,
TEXAS:
SECTION l.
That in addition to those amounts allocated to the vafious City departments for Fiscal Year 2012-2013 in the
Budget of the City Manager, there aboU also he increased estimated receipts and appropriations in the 2007
Cdbcn/ Cuobu| Projects Fund b` the unx/uoi of$3,500,000.00, the New Equipment Purchases Fund in the
amount of $4,000,000.00, the Street boorovomco1a 2004 Overrun Fund in the amount of $36'045`000.00
and the Street bnonovcmerto 2000 Overrun Fund in the amount of $5.350.000.00` from the oulc of
Combination Tax and Revenue Certificates of Obligation, Series 2013A, for the purpose of funding various
capital improvement projects aod reimbursement to the New Equipment Purchases Fund.
SECTION 2.
Thu\
should any portion, section or part of a section of this ordinance he dwo)azmd invalid, inoperative or
void for any reason hya court Vfcompetent jurisdiction, such decision, opinion orjudgrueot shall iuooway
impair the remaining portions, sections, or parts of sections of this ondioancc, whiob said ,enouiojog
ynmvimioua nbaU ho and remain io full force and effect.
SECTION 3.
That tbia ordinance shall be cumulative of Ordinance No 20411'09'2012 and all other ondiuuoouw and
appropriations amending the suruc oxoop1 in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and approydu\iuuo, in vvbjob instance said conflicting provisions
nf said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED &STOFORM AN-) LEGALITY:
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ADOPTED AND EFFECTIVE: Septeq1bqr 17 2013
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ,ACTION: Approved on 9/17/2013 - Ordinance Nay. 20943-09.2013
DATE: Tuesday, September 17, 2013 REFERENCE NO.: G-18005
LOG NAME: 1313 GEN CO APPR
SUBJECT:
Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the 2007 Critical
Capital Projects Fund, the New Equipment Purchases Fund, the Street Improvements 2004 Overrun Fund
and the Street Improvements 2008 Overrun Fund in the Combined Amount of$48,895,000.00 from the
Sale of City of Fort Worth, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2013A,
for the Purpose of Funding Various Projects for Capital Improvements and Reimbursing Certain Equipment
Purchases (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the 2007 Critical Capital Projects Fund, the New Equipment Purchases
Fund, the Street Improvements 2004 Overrun Fund and the Street Improvements 2008 Overrun Fund in
the combined amount of$48,895,000.00 from the sale of City of Fort Worth, Combination Tax and
Revenue Certificates of Obligation, Series 2013A, for the purpose of funding various projects from the
2007 Critical Capital Needs Program, funding additional costs from the 2004 and 2008 Bond Programs,
reimbursing the New Equipment Purchases Fund for the purchase of fire equipment, additional arterial
and bridge projects and paying issuance costs.
DISCUSSION:
On August 20, 2013, (M&C G-17980, Ordinance No. 20876-08-2013) the City Council approved an
ordinance authorizing the sale of up to $74,000,000.00 in City of Fort Worth, Combination Tax and
Revenue Certificates of Obligation (COs), Series 2013A. The majority of the COs were sold on August
22, 2013, in accordance with the parameters set forth in the authorizing ordinance.
Because COs were sold at a premium, the sale in the amount of$46,095,000.00 generated the amount of
$49,261,801.55. After deducting the costs of issuance and underwriter's discount in the amount of
$366,801.55, as authorized by Ordinance No. 20876-08-2013, the City will receive the amount of
$48,895,000.00 in net usable proceeds, which will be appropriated through the attached ordinance. The
remainder of the total authorization will be used to fund the acquisition of the James Avenue Services
Center and will be appropriated through a separate council action once those COs are sold.
This financing will fund capital projects, including the Walsh Ranch Road project, arterials, bridges,
neighborhood streets, traffic signals, parks, enhanced Community Facility Agreements and public
art. Also included in this financing are reimbursements to the New Equipment Purchase Fund for fire
equipment purchases.
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 2007 Critical
Lognanie: 1.313 GEN CO APPR Page 1 of 2
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Capital Projects Fund, New Equipment Purchases Fund, Street Improvements 2004 Overrun Fund and
the Street Improvements 2008 Overrun Fund.
FUND CENTERS:
TO Fu nd/Accou nt/C enters FROM Fund/Account/Centers
C295 485213 201719990100 $2,500,000.00
C295 485213 171779990100 $1,000,000.00
C203 485213 201239990100 $30,645,000.00
C203 485213 201399990100 $5,400,000.00
G193 485213 036193036100 $4`000,000.00
C283 485213 801429990100 $170,000.00
C283 485213 801439990100 $1,400,000.00
C283 485213 801459990100 $2,500,000.00
C283 485213 801509990100 $500,000.00
C283 485213 801589990100 $780,000.00
C295 541200 201719990100 $2,500,000.00
C295 541200 171779990100 $1,000,000.00
C203 541200 201239990100 $30,645,000.00
C203 541200 201399990100 $5,400,000.00
G193 541200 036193036100 $4,000,000.00
C283 541200 801429990100 $170,000.00
C283 541200 801439990100 $1,400,000.00
C283 541200 801459990100 $2,500,000.00
C283 541200 801509990100 $500,000.00
C283 541200 801589990100 $780,000.00
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 GEN CO APPR Page 2 of 2