HomeMy WebLinkAboutOrdinance 15012F~
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Ordinance No. / ~~ ~~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE WATER CAPITAL PROJECT FUND IN THE AMOUNT
OF $2,050,527 AND THE SEWER CAPITAL PROJECT FUND IN THE AMOUNT OF
$1,821,314 IN ORDER TO UTILIZE IMPACT FEE REVENUES TO PAY PRINCIPAL
AND INTEREST ON EXISTING REVENUE BONDS USED TO FUND IMPACT FEE
ELIGIBLE PROJECTS, 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 Fiscal Year 2001-02 m the
Budget of the City Manager, there shall also be increased estunated receipts and appropriations in the Water
Capital Fund Protect Fund in the amount of $2,050,527 and the Sewer Capital Project Fund in the amount of
$1,821,314 in order to utilize unpact fee revenues to pay principal and interest on existing revenue bonds used
to fund impact fee eligible projects.
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 junsdiction, such decision, opinion or judgment shall in no way impair
the remaining pomons, 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ordinances and appropriations are hereby expressly repealed.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.
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
ADOPTED AND EFFECTIVE. ~Cl.tr ~ ~~ ~~
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City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
3/19/02 **G-13552 601MPACT 1 of 2
suB~ECT APPROPRIATION ORDINANCE AND TRANSFER OF .IMPACT FEE REVENUES TO
OPERATING FUND
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 $2,050,527, and $1,821,314 in the Sewer Capital
Project Fund from impact fees, and
2 Authorize the transfer of $2,050,527 from the Water Capital Project Fund and $1,821,314 from the
Sewer Capital Project Fund to the Water and Sewer Operating Fund
DISCUSSION
During the retail cost of service studies, it was determined that the use of impact fee revenues could
lower the amount of surplus reserve funds needed to have sufficient revenues to cover FY2000
budgeted expenditures While the impact fee ordinance prohibits the use of impact fee revenues for
operating expenses, they can be used to pay principal and interest on debt associated with projects
eligible to be funded by impact fees
The 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 By transferring
$3,871,841 ($2,050,527 from Water Impact Fee revenues and $1,821,314 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
City of Fort Worth, Texas
Mayor and Council Communication
DATE
3/19/02 REFERENCE NUMBER
**G-13552 LOG NAME
601MPACT PAGE
2 of 2
SUBJECT APPROPRIATION ORDINANCE AND TRANSFER OF IMPACT FEE REVENUES TO
OPERATING FUND
FISCAL INFORMAT{ON/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
BG k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to) ~
1)PS58 488343 070580200040 $ 582,820.00
Bridgette Garrett/Acting 6140 1) PS58 538040 070580200040 $ 582,820.00
Originating Department Head: 1) PS58 488353 070580200050 $1,238,494.00
1) PS58 538040 07D580200050 $1,238,494.00
1}PW53 488013 060530200040 $ 635,663.00
1) PW53 538040 060530200040 $ 635,663.00
1) PW53 488023 060530200050 $1 414,864.00
1) PW53 538040 060530200050 $1 414,864.00
2) PE45 488023 0601000 $2,050,527.00
2) PE45 488353 0701000 $1,821,314.00
Dale Fisseler 8207 (from) APPROVED 03/19/02
2) PS58 538040 070580200040 $ 582,820.00 ORD.# 15012
Additional Information Contact: 2) PS58 538040 070580200050 $1,238 494.00
2} PW53 538040 060530200040 $ 635,663.00
Dale Fisseler 8207 2) PW53 538040 060530200050 $1 414 864.00