HomeMy WebLinkAboutOrdinance 15009Ordinance No. ' ~ OO
AN ORDINANCE APPROPRIATING $39,972.39 TO THE GENERAL FUND, AND
DECREASING THE UNRESERVED, UNDESIGNATED GENERAL FUND BALANCE
BY THE SAME AMOUNT FOR THE PURPOSE OF PROVIDING FUNDING FOR AN
INTERLOCAL AGREEMENT BETWEEN THE TOWN OF NORTHLAKE AND THE
CITY OF FORT WORTH; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING
THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AND REPEALING
ALL 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 the Fiscal Year 2001-02 and in
the Budget of the City Manager, there shall also be increased appropriations in the General Fund, in the
amount of $39,972.39; thereby decreasing the unrestricted, undesignated Fund Balance by the same amount,
for the purpose of providing funding for an interlocal agreement between the Town of Northlake and the City
of Fort Worth.
SECTION 2.
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. 14745 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repealed.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 FO AND LEGALITY:
C A ey
ADOPTED AND EFFECTIVE:.. IVI,~ l~~~a-
City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
3/19/02 **G-13548 13NORTHLAKE 1 of 2
sua~ECT APPROPRIATION ORDINANCE AND AUTHORIZE THE CITY MANAGER TO PAY THE
TOWN OF NORTHLAKE FOR AN INTERLOCAL AGREEMENT
RECOMMENDATION
It is recommended that the City Council
Adopt the attached appropriation ordinance increasing appropriations in the General Fund in the
amount of $39,972.39 and decreasing the unreserved, undesignated fund balance by the same
amount; and
2 Authorize the City Manager to pay the Town of Northlake for an Interlocal Agreement in the amount
of $39.,972 39
DISCUSSION
On October 2, 1997 (M&C C-16343), the City Council authorized an Interlocal Agreement between the
Town of Northlake and the City of Fort Worth The revenues derived from this area are to cover
increased expenses incurred by the Town of Northlake as a result of construction, activities and
operation of the Texas Motor Speedway facility, and the provision of municipal government services
In order to obtain the land necessary for the development of the Texas Motor Speedway, the City of
Fort Worth entered into this Interlocal Agreement with the Town of Northlake This area was formerly in
the Town of Northlake's extraterritorial jurisdiction (ETJ) The City of Fort Worth agreed to split certain
revenues, if any, derived solely from the area outside the ring road (Victory Circle) adjacent to IH35
The split with the Town of Northlake is on a 50/50 basis
'Revenues to be shared are limited to increased ad valorem taxes (excluding the portion of the annual
Fort Worth rate necessary for general obligation debt service), general sales taxes (excluding any
special levy such as the Transportation Authority, Crime Control and Prevention District or future similar
special levy), and new hotel occupancy taxes which result from development in the defined area
The Revenue Office of the Finance Department has researched the revenue collected by the City in the
area of the former Northlake ETJ from 1997 through 2001 and calculated the amount of revenue to be
shared The Town of Northlake has concurred in the amount.
City of Fort Worth, Texas
Mayor and Council Communication
DATE
3/19/02 REFERENCE NUMBER
**G-13548 LOG NAME
13NORTHLAKE PAGE
2 of 2
SUBJECT APPROPRIATION ORDINANCE AND AUTHORIZE THE CITY MANAGER TO PAY THE
TOWN OF NORTHLAKE FOR AN INTERLOCAL AGREEMENT
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 General Fund After this action, the
unaudited, unreserved, undesignated fund balance of the General Fund will be $35,229,778 00
CB k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
GG01 539120 0905500 $39,972.39
Charles Boswell 8511
Originating Department Head:
Jim Keyes 8517 (from) APPROVED 03/19/02
GG01 539120 0905500 $39,972.39 ORD.# 15009
Additional Information Contact:
Linda Brown 6030