HomeMy WebLinkAboutOrdinance 15878Ordinance No ~~~~~
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE WATER CAPITAL PROJECT FUND IN THE AMOUNT OF $4 550,527 00 AND THE
SEWER CAPITAL PROJECT FUND IN THE AMOUNT OF $4 016 663 00 FROM IMPACT
FEES FOR THE PURPOSE FUNDING THE PAYMENT OF PRINCIPAL AND INTEREST
ON EXISTING REVENUE BONDS; 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
Water Capital Project Fund in the amount of $4 550 527 00 and the Sewer Capital Project Fund in the
amount of $4,016 663 00 from Impact Fees for the purpose of payment of principal and interest on existing
revenue bonds.
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. 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ordinances and appropriations are hereby expressly repealed.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
APP VED AS TO FORM AND LEGALITY
Assistant it Attorney
ADOPTED AND EFFECTIVE. ~ ~ ~~ ~~
.-.
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 2/17/2004 Ordinance No 15878
DATE Tuesday February 17 2004
LOG NAME. 60TRANSFER
REFERENCE NO *G-14263
SUBJECT
Appropriation Ordinance and Transfer of Impact Fee Revenues to Operating Budget
RECOMMENDATION
It is recommended that the City Council:
1 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Water Capital Project Fund in the amount of $4 550 527 and $4 016 663 in the Sewer Capital Project Fund
from impact fees and
2. Authorize the transfer of $4 550 527 from the Water Capital Project Fund and $4 016 663 from the
Sewer Capital Project Fund to the Water and Sewer Operating Fund
DISCUSSION
In accordance with Chapter 395 of the Texas Local Government Code the Water Department began
collecting water and wastewater impact fees in 1990 During subsequent retail cost of service studies it
was determined that the use of impact fee revenues could be used to lower the amount of surplus reserve
funds needed to cover budgeted expenditures. While the impact fee ordinance prohibits the use for
operating expenses they can be used to pay principal and interest on debt associated with projects eligible
to be funded by impact fees As a result, impact fee revenues have been transferred to the operating
budget each year since 1995
By transferring $8 567 190 ($4 550 527 from water impact fee revenues and $4 016 663 from wastewater
impact fee revenues) 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 These impact fee
revenues were considered when calculating the amount of debt to be budgeted in the Water and Sewer
Operating Fund and transferred monthly to the Debt Service Fund
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon adoption of the attached appropriation ordinance funds will be
available in the current operating budget, as appropriated of the Water and Sewer Operating Fund
TO Fund/AccountlCenters
1 ) PS58 488343 070580200040 $1.340.961.00
1 ) PS58 538040 070580200040 $1.340.961.00
1 ) PS58 488353 070580200050 $2.675,702.00
1 ) PS58 538040 070580200050 $2.675.702.00
1) PW53 488013 060530200040 $1.635.663.00
Logname: 60TRANSFER
FROM Fund/AccountlCenters
2) PW53 538040 060530200040 $1.635,663.00
2) PW53 538040 060530200050 $2,914,864.00
2)PS58 538040 060580200040
2) PS58 538040 060580200040
$1,340.961.00
$2.675.702.00
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1) PW53 538040 060530200040 $1.635.663.00
1) PW53 488023 060530200050 $2.914.864.00
1) PW53 538040 060530200050 X2,914,864.00
2 ~PE45 488023 0601000 $4.550.527.00
2) PE45 488353 0701000 $4.016.663.00
Submitted for City Manager's Office bbl: Marc Ott (8476)
Originating Department Head. Dale Fisseler (8207)
Additional Information Contact: Dale Fisseler (8207)
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