HomeMy WebLinkAboutOrdinance 18832-09-2009Ordinance No 18832-09-2009
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE 2007 CRITICAL CAPITAL PROJECTS FUND IN THE
AMOUNT OF $40 184 000 00 IN THE STREET IMPROVEMENTS 2004
OVERRUNS FUND IN THE AMOUNT OF $200 000 00 IN THE INFORMATION
SYSTEMS 20.04 OVERRUN FUND IN THE AMOUNT OF $619 000 00 AND IN
THE NEW EQUIPMENT PURCHASES FUND IN THE AMOUNT OF
$16 182 000 00 FROM THE SALE OF COMBINATION TAX AND LIMITED
SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 2009 FOR
THE PURPOSE OF FUNDING VARIOUS PROJECTS FROM THE 2007
CRITICAL CAPITAL NEEDS PROGRAM, COST OVERRUNS FROM THE 2004
CIP AND REIMBURSING THE GENERAL FUND FUND BALANCE FOR
VARIOUS EQUIPMENT PURCHASES 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 2008-
2009 in the Budget of the City Manager there shall also be increased estimated receipts and
appropriations in the 2007 Critical Capital Projects Fund in the amount of $40 184 000 00 in the
Street Improvements 2004 Overruns Fund in the amount of $200 000 00 in the Information
Systems 2004 Overrun Fund in the amount of $619 000 00 and in the New Equipment Purchases
Fund in the amount of $16,182,000 00 from the sale of Combination Tax and Limited Surplus
Revenue Certificates of Obligation, Series 2009 for the purpose of funding various projects from the
2007 Critical Capital Needs Program and cost overruns from the 2004 CIP and reimbursing the
General Fund Fund Balance for various equipment purchases.
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 18283 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
APPR VED AS TO FORM AND LEGALITY
Assistant City Attorney
ADOPTED AND EFFECTIVE September 22, 2009
~ City of Forf Worth, Texas
Mayor and Council Communication
e ~ _ - ~:
COUNCIL ACTION: Approved on' 9/22/2009 ;Ord. No. 18832-09-2009 ;,
DATE Tuesday September 22 2009
LOG NAME 1309 CO APPR
REFERENCE NO G-16710
SUBJECT
Adopt Appropriation Ordinance in the Amount of $57 185 000 00 for Proceeds from the Combination Tax
and Limited Surplus Revenue Certificates of Obligation Series 2009 for the Purpose of Funding Various
Projects for Capital Improvements and Reimbursement to the General and Other Funds
RECOMMENDATION
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the amount of $57 185 000 00 plus Costs of Issuance from the sale of
Combination Tax and Limited Surplus Revenue Certificates of Obligation Series 2009 for the purpose of
funding various projects from the 2007 Critical Capital Needs Program cost overruns from the 2004
Capital Improvements Project; reimbursing General Fund fund balance for the purchase of fire equipment;
and reimbursing the Equipment Note Authority for prior purchases of fire equipment, software and a
vehicle for the Transportation and Public Works Department.
DISCUSSION
On September 1 2009 the City Council approved an ordinance authorizing the sale of $56 545 000 00 in
Combination Tax and Limited Surplus Revenue Certificates of Obligation Series 2009 Because the
Certificates were sold at a premium the sale generated revenues of $57 185 000 00 plus Costs of
Issuance that will be appropriated through the attached Ordinance
This financing will fund Critical Capital projects including arterial and neighborhood streets Southwest
Communication Tower Integrated Program Management and Enhanced Community Facilities
Agreements as well as cost overruns from the 2004 bond program such as bridges and the Rolling Hills
Tower
Also included in this financing are reimbursements from prior purchases primarily of fire equipment.
Formerly smaller capital items such as fire equipment, Transportation and Public Works Department
(TPW) vehicles and expensive software programs were funded via the Equipment Note Authority with the
authority to be .reimbursed at a later date when debt was issued A change in the process was made in
Fiscal Year 2009 with the Fire Department's annual purchase of fire equipment being funded out of the
General Fund fund balance with an accompanying reimbursement resolution This issuance of Certificates
of Obligation reimburse both the Equipment Note Authority and the General Fund fund balance
The br ~akdown by program is as follows
2007 Critical Capital Program $40 184 000 00
2004 Bond Program Cost Overruns $819 000 00
New Fire Equipment $4 000 000 00.
Equipment Note Reimbursement (rounded) $12,182,000.00
Logname 1'>309 CO APPR Page 1 of 3
Total Sale
$57 185 000 00
FISCAL INFORMATION /CERTIFICATION
The Financial Management Services Director certifies that upon sale of the Combination Tax and Limited
Surplus Revenue Certificates of Obligation Series 2009 and approval of attached appropriation
ordinance funds will be available in the 2007 Critical Capital Projects Fund New Equipment Purchases
Fund Street Improvements 2004 Overrun Fund and the Information Systems 2004 Overrun Fund
FUND CENTERS
TO Fund/Account/Centers
FROM Fund/Account/Centers
C295 485219 201239990100 $4,332,091.00
C295 485219 201409990100 $29,000,000.00
G295 485219 201249990100 2 000 000.00
C295 485219 201719990100 $500,000.00
C295 485219 201759990100 $200,000.00
C295 485219 171779990100 $1,000,000.00
C295 485219 021029990100 $50,000.00
C295 485219 041039990100 $200,000.00
C295 485219 201959990100 $2,182,000.00
C295 485219 201989990100 $719,909.00
C203 485219 201269990100 $200.000.00
P252 485219 041019990100 $619,193.00
0295 541200 201239990100 $4,332,091.00
C295 541200 201409990100 $29,000,000.00
C295 541200 201249990100 $2,000,000.00
C295 541200 201719990100 $500,000.00
C295 541200 201759990100 $200,000.00
C295 541200 171779990100 $1,000,000.00
C295 541200 021029990100 $50,000.00
C295 541200 041039990100 $200,000.00
C295 541200 201959990100 $2,182,000.00
C295 541200 201989990100 $719,909.00
0203 541200 201269990100 $200,000.00
P252 541200 041019990100 $619,193.00
G193 485XXX 004193004020 $5,754,191.00
G193 485XXX 036193036080 $3,111,721.00
G193 485XXX 036193036090 $7,250,681.00
G193 485XXX 020193020020 $65,214.00
GD06 553010 0132000 $209,705.50
GD06 485XXX 0132000 $166,099.51
Logname 1.309 CO APPR
Page 2 of 3
CERT11=1CATIONS
Submitted for City Manager's Office bv:
Originating Department Head.
Additional Information Contact:
Karen Montgomery (6222)
Lena Ellis (8517)
James Mauldin (2438)
Logname• 1309 ~'O APPR Page 3 of 3