HomeMy WebLinkAboutOrdinance 21916-09-2015 ORDINANCE NO. 21916-09-2015
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
LAKE WORTH GAS LEASE CAPITAL IMPROVEMENT FUND, PARK GAS WELL LEASES FUND,
CAPITAL PROJECTS RESERVE FUND, AIRPORTS GAS LEASE PROJECT FUND, GOLF GAS
LEASE CAPITAL PROJECT FUND, WATER AND SEWER GAS LEASE CAPITAL PROJECTS
FUND, PARK SYSTEM ENDOWMENT GAS LEASE FUND, WATER AND SEWER ENDOWMENT
GAS LEASE FUND, AVIATION ENDOWMENT GAS LEASE FUND AND GENERAL
ENDOWMENT FUND IN AN AMOUNT UP TO $192,000.00 FROM AVAILABLE FUNDS, FOR THE
PURPOSE OF FUNDING BANDING AND TRUST SERVICES ASSOCIATED WITH COLLECTION
AND MANAGEMENT OF THE CITY-OWNED MINERAL INTEREST REVENUES; 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 2014-2015 in the Budget of the
City Manager, there shall also be increased estimated receipts and appropriations in the Lake Worth Gas Lease Capital
Improvement Fund, Park Gas Well Leases Fund, Capital Projects Reserve Fund, Airports Gas Lease Project Fund, Golf
Gas Lease Capital Project Fund, Water and Sewer Gas Lease Capital Projects Fund, Park System Endowment Gas Lease
Fund, Water and Sewer Endowment Gas Lease Fund,Aviation Endowment Gas Lease Fund and General Endowment Gas
Lease Fund in the amount of$192,000.00 from available funds, for the purpose of funding for banking and trust services
associated with the collection and management of the City-owned mineral interest revenues.
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. 21457-09-2014 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 FORM AND LEGALITY:
s
hrista ynolds, Sr. Assi t t City ttoi ey, Mary J.K `, ctaYy
ADOPTED AND EFFECTIVE: September 29,2015
Ordinance No. 21916-09-2015
Page 1 of 1
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 912912015 -;Ordinance No. 21916-09-2015
DATE: Tuesday, September 29, 2015 REFERENCE NO.: **G-18561
LOG NAME: 13GAS LEASE CONSULTANT FEES FY2015
SUBJECT:
Adopt Appropriation Ordinance to Properly Record Fees in an Amount Up to $192,000.00 Paid to Wells
Fargo Bank, N.A., City Secretary Contract No. 45281 in Fiscal Year 2015 for Banking Services Provided in
Conjunction with Management of the City's Mineral Revenues (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in Fiscal Year 2015 in the following funds for a total amount up to $192,000.00
to properly record fees attributed to the various funds for banking services provided in conjunction with
management of the City-owned mineral interest properties:
1. Lake Worth Gas Lease Capital Improvement Fund
2. Park Gas Well Leases Fund
3. Capital Projects Reserve Fund
4. Airports Gas Lease Project Fund
5. Golf Gas Lease Capital Project Fund
6. Water and Sewer Gas Lease Capital Projects Fund
7. Park System Endowment Gas Lease Fund
8. Water and Sewer Endowment Gas Lease Fund
9. Aviation Endowment Gas Lease Fund
10. General Endowment Gas Lease Fund
DISCUSSION:
In December 2012, (M&C P-11467) the City Council approved City Secretary Contract No. 45281 with
Wells Fargo Bank, National Association for a five year term based on a monthly fee of$16,000.00 for
banking and trust services associated with the collection and management of the City-owned mineral
interest revenues from multiple gas companies.
The banking fee is proportionately taken on a monthly basis from the various funds as outlined above per
the current Financial Management Policy Statements. For accounting purposes only, this Mayor and
Council Communication appropriates up to $192,000.00 in fees for Fiscal Year 2015 to the various funds
for the banking services provided by Wells Fargo Bank, N.A. and does not further reduce the mineral
revenues in Fiscal Year 2015.
These appropriations will be accounted for in Fiscal Year 2015 since that is the period in which the bank
fees were incurred and the final actual fees will be determined and provided to Financial Management
Services (FMS) on or before October 15, 2015. FMS will prepare and record the associated entries for
the distribution of bank fees.
Logname: 13GAS LEASE CONSULTANT FEES FY2015 Page 1 of 2
FISCAL INFORMATION /CERTIFICATION:
The Financial Management Services Director certifies that upon adoption of the attached appropriation
ordinance, funds will be available in the Lake Worth Gas Lease Capital Improvement Fund, Park Gas Well
Leases Fund, Capital Projects Reserve Fund, Airports Gas Lease Project Fund, Golf Gas Lease Capital
Project Fund, Water and Sewer Gas Lease Capital Projects Fund, Park System Endowment Gas Lease
Fund, Water and Sewer Endowment Gas Lease Fund, Aviation Endowment Gas Lease Fund and General
Endowment Gas Lease Fund.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:
Aaron Bovos 8517
Submitted for City Manager's Office bv: )
Originating Department Head: Aaron Bovos (8517)
Additional Information Contact: Loraine Coleman (8542)
Logname: 13 GAS LEASE CONSULTANT FEES FY2015 Page 2 of 2