HomeMy WebLinkAboutOrdinance 15532f~~~~,,
Ordinance No.
AN ORDINANCE INCREASING ESTIMATED RECEIPTS . AND
APPROPRIATIONS IN THE STREET IMPROVEMENTS FUND IN THE AMOUNT
OF $4,522,000 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING
CAPITAL NEEDS; 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 for Fiscal Year 2002-
2003 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Street Improvements Fund in the amount of $4,522,000 from available funds
for the purpose of funding capital needs.
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. 15184 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
APP OVED S TO F RM AND LEGALITY:
Assistan ity Attorney
ADOPTED AND EFFECTIVE: ~~~ ~~
City o, f '.k'oa~t ~Vo~th, Z'exas
M'Ayar And (~auncil Cammunicatian
DATE REFERENCE NUMBER LOG NAME PAGE
4/22/03 (7_~ 39~,~ 2000UNTRY ~ 1 of 2
suB~ECT APPROPRIATION ORDINANCES, APPROVAL OF POLICY REVISION AND USES OF
' THE SPECIAL ASSESSMENTS FUND
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt a revision to the policies and uses of the Special Assessment Fund to eliminate the current
mandated $3 million minimum for the principal purposes of this fund; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Special Assessments Fund in the amount of $4,522,000 from available funds; and
3: Approve the transfer of $4,522,000 from the Special Assessments Fund to the Street
Improvements Fund for the purpose of addressing capital needs; and
4. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Street Improvements Fund in the amount of $4,522,000 from available funds.
DISCUSSION:
On February 14, 1995 (M&C G-10979), City Council approved policies and alternative uses for the
Special Assessments Fund. This policy stipulated that at lease $3 million shall be retained in the
Special Assessments Fund for the principal purpose of covering paving assessments, up-front including
funding for streets bordering new developments. It further stipulated that when the fund balance
exceeds the $3 million minimum, the excess funds could be used for secondary alternative authorized
uses which are participation in City/Sate/Fedral projects. and other emergency uses subject to City
Council approval (e.g., cost over-runs on approved Capital Improvements Program (C1P).
Overall, because the fund is limited by bond covenants to street and drainage construction, these fund
could only be used to supplement capital improvements or other street construction programs.
Special Assessments Fund Policy Revision:
The practice of assessing citizens for neighborhood. streets for paving projects was discontinued in the
1998 .CIP: Paving assessment activities are now minimal; thus, the $3 million minimum for the principal
use to cover paving assessments is no longer necessary. Therefore, staff recommends elimination of
the $3 million minimum and designating the principal use of the Special Assessment Fund to include
funding administrative costs for the collection of previous paving assessments, up-front funding for
streets bordering new developments, participation in City/State/Federal projects, and other emergency .
uses subject to City Council approval (e.g., cost over-runs on approved street and drainage CIP
projects). Staff also recommends using the available balance of $4,522,000 at this time to address
additional funding needs of New Development projects.
It is noteworthy that $1.241 million of these Special Assessment funds are not available for new
projects, as they have been committed by City Council on previous Community Facilities Agreements
(CFA), which would leave $3,281,000 for new CFA commitments.
City of Fort WoNth, Texas
1
DATE
4/22/03 REFERENCE NUMBER
G-13956 LOG NAME
2000UNTRY PAGE
2 of 2
SUBJECT APPROPRIATION ORDINANCES, APPROVAL OF POLICY REVISION AND USES OF
THE SPECIAL ASSESSMENTS FUND
FISCAL INFORMATION/CERTIFICATION:
The Finance. Director certifies that upon approval and completion of the above recommendation and the
adoption of the attached appropriation ordinance, funds will be available, in the current capital budget,
as appropriated, of the Street Improvements Fund.
MO:r
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
2) GS94 488032 020940099050 $4,522,000.00
Marc Ott 8476 2) GS94 538070 020940099050 $4,522,000.00
Originating Department Head: 3&4) C115 ~ 472094 020115136901 $4,522,000.00
4) C115 541200 020115136901 $4,522,000.00
Robert Goode 7804 (from) APPROVED 04/22/03
3&4) GS94 538070 020940099050 $4,522,000.00 ORD.#1SS31 & 1SS32
Additional Information Contact:
Robert Goode 7804