HomeMy WebLinkAboutOrdinance 21481-09-2014 r
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Ordinance No.21481-09-2014
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AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE WATER CAPITAL PROJECT FUND IN THE AMOUNT
OF $3,623,005.00, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF PAYING
DEBT ASSOCIATED WITH IMPACT FEE ELIGIBLE PROJECTS; PROVIDING FOR
A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF j
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:
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SECTION 1.
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That in addition to those amounts allocated to the various City departments for Fiscal Year 2013-2014 in the
Budget of the City Manager,there shall also be increased estimated receipts and appropriations in the Water
Capital Project Fund in the amount of$3,623,005.00, from available funds, for the purpose paying debt
associated with impact fee eligible projects.
SECTION 2.
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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. 20952-09-2013 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in i
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions
of said prior ordinances and appropriations are hereby expressly repealed.
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SECTION 4.
This ordinance shall take effect upon adoption.
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APPROVED AS TO FORM AND LEGALITY: CITY SECRET' S
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Assist City Attorney Mary J.Ka r {
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'. ADOPTED AND EFFECTIVE: September 23,2014
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City of Fort Worth, Texas
Mayor and Council Communication
.COUNCIL ACTION Approved on 9/23/2014 Ordnance Nos 21;480 09 201:4 & 21:481.=09. .°
DATE: Tuesday, September 23, 2014 REFERENCE NO.: G-18324
LOG NAME: 60IMPACT FEE TRANSFER 2014
SUBJECT:
Adopt Appropriation Ordinances Increasing Estimated Receipts and Appropriations in the Amount of
$3,623,005.00 in the Water Capital Projects Fund and in the Amount of$2,639,672.00 in the Sewer Capital
Projects Fund and Authorize Transfer in the Total Amount of$6,262,677.00 to the Water and Sewer
Operating Fund for the Purpose of Paying Debt Associated with Impact Fee Eligible Projects (ALL
COUNCIL DISTRICTS)
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RECOMMENDATION:
It is recommended that the City Council:
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1. Adopt the attached appropriation ordinances increasing estimated receipts and appropriations in the
Water Capital Project Fund in the amount of$3,623,005.00 and in the Sewer Capital Project Fund in the
amount of$2,639,672.00 from impact fees; and
2. Authorize the transfer in the amount of$3,623,005.00 from the Water Capital Project Fund and in the
amount of$2,639,672.00 from the Sewer Capital Project Fund to the Water and Sewer Operating Fund in ?
the total amount of$6,262,677.00 for the purpose of paying debt associated with impact fee eligible
projects.
DISCUSSION:
During the retail cost of service studies, it was determined that the use of impact fee revenues could lower
the amount of water and sewer service revenue required to balance Fiscal Year 2013-2014 budgeted
revenues and expenditures. While Section 35-70.9 (b) of the City Code "Use of proceeds of impact fee
accounts" prohibits the use of impact fees for operating expenses, the proceeds can be used to pay
principal and interest on debt associated with projects eligible to be funded by impact fees. By transferring
the total amount of$6,262,677.00 ($3,623,005.00 from Water Impact Fee revenue and $2,639,672.00
from Wastewater Impact Fee revenue) to the Water and Sewer Operating Fund, sufficient revenues will be
available to pay principal and interest on existing revenue bonds used to fund impact fee eligible projects.
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FISCAL INFORMATION /CERTIFICATION: i
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinances, funds will be available in the current FY14 j
operating budget, as appropriated, of the Water and Sewer Fund and Water and Sewer Capital Project
Funds.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
1) PS58 441012 070580200050
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Logname: 60IMPACT FEE TRANSFER 2014 Page 1 of 2
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$2,639,672.00 2) PS58 538040 070580200050 $2,639,672.00
1) PS58 538040 070580200050 $2,639,672.00 2) PW53 538040 060530200050 $3,623,005.00
1) PW53 488023 060530200050 $3,569,182.11 1
1) PW53 538040 060530200050 $1,623,005.00
2) PE45 476053 0601000 $3.623.005.00 j
2) PE45 476058 0701000 $2.639,672.00
1) PW53 441012 01353020050 $53,822.89
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CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: S. Frank Crumb (8207)
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Additional Information Contact: Jan Hale (8438) I
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Logname: 60IMPACT FEE TRANSFER 2014 Page 2 of 2