HomeMy WebLinkAboutOrdinance 16024Ordinance No ~ '~-~J" -
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE SPECIALLY FUNDED CAPITAL PROJECTS FUND IN THE AMOUNT OF $500 000
CONTINGENT UPON RECEIPT OF FUNDS FROM INSURANCE REIMBURSEMENT
FOR THE PURPOSE OF FUNDING DEDUCTIBLE COSTS FOR STORM RELATED
DAMAGE TO CITY PROPERTIES; 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 2003-2004 in the
Budget of the City Manager there shall also be increased estimated receipts and appropriations in the
Specially Funded Capital Projects Fund in the amount of $500 000 for the purpose funding deductible costs
for storm related damage to City properties.
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 15636 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ordinances and appropriations are hereby expressly repealed.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 S T O D LEGALITY
ssi t ity ttorney
ADOPTED AND EFFECTIVE. ~~~
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved. on 7/6/2004 Ordinance No 16024
DATE Tuesday July 06 2004
LQG NAME 13SPECIAL FUND REFERENCE NO *G-14413
SUBJECT
Authorize Transfer of $250 000 from the Property and Casualty Insurance Fund to the Specially
Funded Capital Projects Fund to Cover Deductible Costs for Storm Related Damage to City
Property and Adoption of Appropriation Ordinance
RIECOMMENDATION
It lis recommended that the City Council.
1 Authorize the transfer of $250 000 from the Property and Casualty Insurance Fund to the Specially
Funded Capital Projects Fund for the deductible portion of the recent storm related damage to City
properties, and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Specially Funded Capital Projects Fund by an amount up to $500 000 contingent upon receipt of funds
from insurance reimbursement.
DISCUSSION
The recent storm related damage to several City properties caused over $450 000 in damage according to
the insurance adjuster's estimates The City's deductible is $250 000 for this type of claim If the
relplacement cost for the damage is less than the deductible any remaining funds will be returned to the
Property and Casualty Insurance Fund The deductible amount will be appropriated immediately upon
approval of this Mayor and Council Communication (M&C) The remaining amount will be appropriated as
actual funds are received from the insurance company
Although the appropriation ordinance is for up to $500 000 only the amount of the deductible and the actual
amount received from the insurance company will be appropriated If the total costs exceed $500 000 an
additional M&C will be submitted to authorize the additional appropriation
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon approval of the above recommendations and adoption of the
attached appropriation ordinance funds will be available in the current operating budget, as appropriated in
the Specially Funded Capital Projects Fund.
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TO Fund/Account/Centers FROM Fund/Account/Centers
GC35 472071 020040041260 $250,000.00 FE71 538070 0137140 $250.000.00
GC35 488359 020020041260 $250.000.00
GC35 5 (VARIOUS) 020040041260 $500.000.00
Submitted for City Manager's Office bv• Charles Boswell (8511)
Originating Department Head Jim Keyes (8517)
Additional Information Contact: Sue Haupt (7761)
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