HomeMy WebLinkAboutOrdinance 21905-09-2015 ORDINANCE NO. 21905-09-2015
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE TEXAS WATER DEVELOPMENT BOARD CLEAN
WATER STATE REVOLVING FUND WATER AND SEWER SYSTEM, SERIES 2015
FUND IN THE AMOUNT OF $37,134,467.00, SUBJECT TO RECEIPT OF THE
FUNDS FROM THE TEXAS WATER DEVELOPMENT BOARD'S CLEAN WATER
STATE REOLVING FUND, FOR THE PURPOSE OF FUNDING PEAK FLOW
MANAGEMENT FACILITES AT THE VILLAGE CREEK WATER RECLAMATION
FACILITY AND BIG FOSSIL PARALLEL RELIEF SANITARY SEWER MAINS;
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 Texas
Water Development Board Clean Water State Revolving Fund Water and Sewer System, Series 2015 Fund
in the amount of$37,134,467.00, subject to receipt of the funds from the Texas Water Development Board's
Clean Water State Revolving Fund, for the purpose of funding Peak Flow Management Facilities at the
Village Creek Water Reclamation Facility and Big Fossil Parallel Relief Sanitary Sewer Mains.
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of said prior ordinances and appropriations are hereby expressly repealed.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:
Denis k.. McEI ,Asst. City Attorney airy J. se ,Cit ecretary
ADOPTED AND EFFECTIVE: September 29,2015
Ordinance No. 21905-09-2015
Page l of 1
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9129/2015 - Ordinance No. 21905-09-2015
I I I I I I I I I I I I I I I I I I I I I uu1imiliol
DATE: Tuesday, September 29, 2015 REFERENCE NO.: **G-18568
LOG NAME: 60CWSRF APPROPRIATION 2015
SUBJECT:
Adopt Ordinance Appropriating $37,,134,467.00 from Sale of Revenue Bonds t o t he Texas Water
Development Board to Provide Peak Flow Management Facilities at the Village Creek Water Reclamation
Facility and the Big Fossil Parallel Relief Sanitary Sewer Main, Parts 1 and 3 (ALL COUNCIL DISTRICTS)
.......... . ...... ..............
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the Texas Water Development Board Clean Water State Revolving Fund
Water and Sewer System, Series 2015 Fund by $37,134,467.00 from the sale of Water and Sewer
System Revenue Bonds, Series 2015 to the Texas Water Development Board under the Clean Water
State Revolving Fund.
DISCUSSION:
On August 12, 2014, the City Council authorized the filing of an application with the Texas Water
Development Board (TWDB) requesting financial assistance from the TWDB in the amount of
$39,000,000.00 under the Clean Water State Revolving Fund (CWSRF) to finance the construction of the
Peak Flow Management Facilities at the Village Creek Water Reclamation Facility and construction of the
Big Fossil Parallel Relief Sanitary Sewer Main, its 1 and 3 (Resolution No. 4347).
On November 20, 2014, the TWDB approved the City's request for financial assistance, agreeing to buy
revenue bonds at a subsidized, low-interest rate. On May 19, 2015 (MC G-18483), the City Council
authorized the issuance and sale of the revenue bonds to the 'TWDB in the amount of$39,000,000.00 as
Water and Sewer System Revenue Bonds, Series 2015..
From the Series 2015 proceeds, $708,395.00 was withheld by the "Texas Water Development Board to
pay its loan origination fee related to the bonds, and $1,157,,138.53 was used to fund the required debt
service reserve fund. Approval of this M&C will appropriate the remaining $37,134,467.00 for use in
funding the Peak Flow and Big Fossil projects.
I ...........
FISCAL INFORMATION CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above recommendation
and adoption oft attached appropriation ordinance„ funds will be available in the capital budget, as
appropriated, of the Texas Water Dvelopment Board Clean Water State Revolving Fund Water and Sewer
System, Series 2015 Fund.
FUND CENTERS,
Lognarne: 60CWSR.F APPROPRIATION 201.5 Page 1. oft
TO Fund/Account/Centers FROM Fund/Account/Centers
P267 485708 701139990100 $37,134,467.00
P267 541200 701139990100 $37,134,467.00
CERTIFICATIONS:
Submitted for City Manager's Office by: Jay Chapa (6122)
Originating Department Head: John Carman (8246)
Additional Information Contact: Jan Hale (8438)
Logname: 60CWSRF APPROPRIATION 2015 Page 2 of 2