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HomeMy WebLinkAboutOrdinance 15717 Ordinance No. AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE MUNICIPAL AIRPORTS FUND IN THE AMOUNT OF $348,173.00 AND DECREASING THE UNRESERVED RETAINED EARNINGS IN THE MUNICIPAL. AIRPORTS FUND IN THE AMOUNT OF $348,173.00 FROM AVAILABLE FUNDS, FOR THE PURPOSE OF TRANSFERRING SAID FUNDS TO THE CAPITAL PROJECTS RESERVE FUND; 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 Municipal Airports Fund in the amount of $348,173.00 and decreasing the unreserved retained earnings in the Municipal Airports Fund in the amount of $348,173.00 from available funds, for the purpose of transferring said funds to the Capital Projects Reserve Fund. 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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. APPROVED AS TO FOR~~1 AND LEGALITY: r~C~OPIEG hNG ErFLCTCVE: pity of Fart Worth! Texas Mayor and Council Communication COUNCl~ ACTION: Approved on 1012112003 -Ordinance #15717 DATE: Tuesday, October 21, 2003 LOG NAME: 13GSIA2003 REFERENCE NO.: *'~G-14127 SUBJECT: Supplemental Appropriation to the Municipal Airports Fund and Transfer to the Capital Projects Reserve Fund RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached supplemental appropriation ordinance increasing appropriations in the FY2002- 2003 budget by $348,173 in the Municipal Airports Fund and decreasing the unreserved retained earnings of the Municipal Airports Fund by the same amount; and 2. Approve the transfer of $348,173 from the Municipal Airports Fund to the Capita! Projects Reserve Fund in FY2002-2003. DISCUSSION: In June 1980, the Gity entered into an agreement to sell the Greater Southwest International Airport {GSIA}. On May 9, 1979 {M&C G-4167}, the Gity Gouncil approved the establishment of four priorities for the sale of GSIA listed below: a} Resolve all appropriate claims for the federal government {Federal Aviation Administration}; and b} ©efease outstanding revenue bonds; and c} Repay General Fund advances by transferring proceeds to the Gapital Projects Reserve Fund; and d} Earmark any additional proceeds to go into the Capital Projects Reserve Fund to be utilized specially for future airport improvements. "T E a . -, r t i Y ~ P ~ ( ~. 1'. .. ~ .~ _+ 1 {~n J;.1(-;"- ~~ tF~a jd~C ~~Oi,CZ'~S f0( BOO.; 'JU°~C UCFOSItt~'~ in~0 ifl~ ~~~U"l t.1~,2. %~.I~r'`,OfiS FU!'i'~ !l, i~1C- dnlOli'1i of 5~4~. ~ 3. To make this amount available for use in the Capital Project Reserve Fund. a supplemental appropr-ia±ion crrlinance !s necessary I`t tTri~Pri P' ~ i(i~.'~ L~ `~}~(~ : ry ~ t* n FISCAL INF4RMATIC}NICERTIFICATIQN: The Finance Director certifies that upon the adoption of the supplemental appropriation ordinance, funds will be available in the current operating budget, as appropriated, of the Municipal Airports Fund. The cash balance in the Capital Projects Reserve Fund after this transfer will be $2,468,265. T4 Fund/AccountlCenters FROM FundlAccountlCenters PE40 538074 4554444 X348173.44 PE40 538474 4554444 $348,173.44 GC14 472444 013014441444 $348.173.40 .~.~... Submitted for City Manger's Office by_ Richard Zavala {Acting} {6183} Originating Department Head: Jim Keyes {8517) Additional Information Contact: Judy Walton {8334) C ~r,,,.,,,,~. ~ ~r~c+T n ~r~n~