HomeMy WebLinkAboutOrdinance 14830.W..ra ., / ~~o
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Ordinance No.
AN ORDINANCE APPROPRIATING $373,675 TO AIRPORTS FUND AND INCREASING THE
DEFICIT OF THE AIRPORT FUND FOR THE PURPOSE OF PROVIDING REPAYMENT OF
PRIOR YEAR GENERAL FUND ADVANCES, PROVIDING FOR A SEVERABILITY
CLAUSE, MAKING THIS ORDINANCE CUMULATNE OF PRIOR ORDINANCES AND
REPEALING ALL PRIOR ORDINANCES IN CONFLICT HEREWITH, AND PROVIDING AN
EFFECTNE 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 2000-01 and in the
Budget of the City Manager, there shall also be increased appropriations in the General Fund in the amount of
$373,675, thereby increasing the deficit of the Fund for the purpose of repayment of prior year General Fund advances.
SECTION 2.
That should any portion, secfion 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. 14286 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, mwhich instance said conflicting provisions of said prior ordinances and appropriations
are hereby expressly repealed.
SECTION 4
This ordinance shall take effect upon adoption.
APPROV S TO F AND LEGALITY
City Attorne / / /
ADOPTED AND EFFECTIVE. ` ~ l a~ I ~
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City of'Fort Worth, Texas
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DATE REFERENCE NUMBER LOG NAME PAGE
10/23/01 **~~13411 13AlRPORTS 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO MUNICIPAL AIRPORTS FUND AND
_ TRANSFER TO CAPITAL PROJECTS RESERVE FUND
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached supplemental appropriation ordinance increasing appropriations by $373,675 00
in the Municipal Airports Fund and increasing the deficit of the Municipal Airports Fund, and
2. Approve the transfer of the same $373,675 00 from the Municipal Airports Fund to the Capital
Projects Reserve Fund
DISCUSSION
In June 1980, the City entered into an option agreement to sell the Greater Southwest International
Airport (GSIA) to Centreport Joint Venture On May 9, 1979 (M&C G-4167), as the City was
anticipating the sale of GSIA, the City Council established the following four priorities for the sale
proceeds
a) Resolve all appropriate claims for the Federal Aviation Administration, and
b) Defease outstanding revenue bonds, and
c) Repay General Fund advances by transferring proceeds to the Capital Projects Reserve Fund,
and
d) Allocate any additional proceeds to go into the Capital ProjectsyReserve Fund, to be earmarked
specifically for future airport improvements
The transfer from the Municipal Airports Fund to the Capital Projects Reserve Fund is to satisfy priority
c) above by earmarking these proceeds specifically for repayment to the General Fund for prior year
advances These monies will be recorded into the Capital Projects Reserve Fund unspecified project.
The option payment for 2001 was deposited on August 24, 2001 into the Municipal Airports Operating
Fund in the amount of $373,675 00 To make this amount available for use in the Capital Projects
Reserve Fund, a supplemental appropriation ordinance is necessary
The remaining payments. due to the City under this agreement are as follows
June 5, 2002
June 5, 2003
$373,675 00
$348,173 40
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City of Fort Worth, Texas
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DATE
10/23/01 REFERENCE NUMBER
**G-13411 LOG NAME
13AIRPORTS PAGE
2 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO MUNICIPAL AIRPORTS FUND AND
TRANSFER TO CAPITAL PROJECTS RESERVE FUND
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon the adoption of the supplemental appropriation ordinance,
funds will be available in the current operating budget, as appropriated, of the Municipal Airports Fund
The cash balance in the Capital Projects Reserve Fund after this transfer will be $1,213,817
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Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
PE40 538070 0554000 $373,675 00
Charles Boswell 8511 GC10 472040 013010001000 $373,675.00 APPROVED
Originating Department Head: ~j~ l ~ CQVNIr~t.
Jim Keyes 8517 (from) ACT 23 2001
PE40 538070 0554000 $373,675 00
Additional Information Contact: ~~i,~,,,, ~~~J
City Secretary of t1Ae
Judy Walton 8334 City of £ost worth, Tex?+s
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