Loading...
HomeMy WebLinkAboutOrdinance 14642=~, ~ °Y .;; Ordinance No AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE 1998 STREET IMPROVEMENT CAPITAL IMPROVEMENT PROJECT IN THE AMOUNT OF $5,131,276, THE 1998 PARKS AND COMMUNITY SERVICES CAPITAL IMPROVEMENT PROJECT IN THE AMOUNT OF $2,228,724, AND IN THE 1998 FIRE SERVICES CAPITAL IMPROVEMENT PROJECT IN THE AMOUNT OF $900,000 FROM THE SALE OF GENERAL PURPOSE BONDS, SERIES 2001 FOR THE PURPOSE OF FUNDING VARIOUS 1998 CAPITAL IlVIPROVEMENTS, 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 vanous City departments for the Fiscal Year 2000-01 and in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the 1998 Street Improvement Capital Improvement Project in the amount of $5,131,276, the 1998 Parks And Community Services Capital Improvement Project in the amount of $2,228,724, and in the 1998 Fire Services Capital Improvement Project in the amount of $900,000 from the sale of General Purpose Bonds, Series 2001 for the purpose of funding vanous 1998 capital improvements. SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way irripair the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain in full force and effect. SECTION 3 That this ordinance shall be cumulative of Ordinance No. 14286 and all other ordinances and appropriations amending the same except m those instances where the provisions of this ordinance are in direct conflict with such other ordinances and appropriations, inwhich instance said conflicting provisions of said prior ordinances and appropnations are hereby expressly repealed. SECTION 4 This ordinance shall take effect upon adoption. APPRO AS TO FORM AND LEGALITY Assistant City Atto ey ADOPTED AND EFFECTIVE. W/$~b r. _ ~~ W ~ . ~ 2001 BOND SALE PROJECT NAME LIMITS BOND SALE 2001 29th St. NE Runnels to Hutchinson 100,300 Hutchinson St. NE 29th St. to NE 28th St. 125,800 Dryden Rd. Carolyn to Stadium Dr 142,800 East Lane Malvey to 1-30 Service Rd. 42,500 Edgehill Rd. Hilldale to Crestmore Rd. 73,100 Malvey Ct Westricge to Malvey Ave. 37,400 Dalford Fairview to Belknap 86,000 Maurice Belknap to Seaman 189,000 Flemming Dr Rickenbacker Pl. to Plaza Cir 244,000 Wonder Dr Cranbury to Trail Lake Dr 220,000 Bryce Ave. Clover Ln. to Tremont Ave. ] 76,800 Pershing Ave. Ashland to Camp Bowie Blvd. 34,576 Chenault St. Brandies to Covello Ave. 235,000 Rosedale St. W Mistletoe to Forest Park Blvd. 114,000 Shaw St. W Hemphill St. to E. Dead End 50,000 TOTAL NEIGHBORHOOD STREETS 1,871,276 Buckingham Rd. (Partial Recon) FAA Blvd. To Trinity 50,000 Cambridge (Partial Recon) FAA Blvd. To Trinity 100,000 Diplomacy Blvd. (Partial Recon) FAA Blvd. To Trinity 100,000 FAA Blvd. (Partial Recon) Amon Carter to Empire 100,000 Hemphill/Lamar/Taylor (Plan/Design) Connection 500,000 Jennings Underpass (Plan/Design) At UPRR 100,000 Sylvania Dr Riverside Dr to 500 ft north 50,000 Berry Street Streetscape 440,000 Camp Bowie/7th StreetlUniversity Dr (Streetscape) 60,000 FW Linkage Study; Streetscape (N.Main) 500,000 TOTAL ARTERIAL STREETS & URBAN DESIGN 2,000,000 Trinity Blvd., Arlington-Bedford Rd. to FM 157 960,000 Southwest Parkway Prelim. Design & Proj Facilitator 300,000 TOTAL REGIONAL PROJECTS -CITY'S PARTICIPATION 1,260,000 TOTAL STREETS AND STORM DRAIN IMPROVEMENTS 5,].3].,276 FAR NORTH FORT WORTH COMMUNITY PARK 650,000 HARMON FIELD SPORTS COMPLEX 250,000 ROLLING HILL SOCCER COMPLEX 700,000 SOUTHEAST COMMUNITY CENTER 428,724 SYCAMORE YOUTH SPORTS COMPLEX 200,000 TOTAL PARKS & COMMUNITY SERVICES 2,228,724 FIRE STATION -ALLIANCE CORR.(FS#8) 600,000 FIRE STATION - BRYANT IRVIN 300,000 TOTAL FIRE SERVICES 900,000 TOTAL 2001 BOND SALE 8,260,000 Page 1 of 1 City of Fort Worth, Texas A ar Anil L,aunc~l Can~mun~cAt~iun ~~ ~ DATE REFERENCE N LOG NAME PAGE 6/5/01 **G-13257 13GP-BONDS 1 of 2 SUBJECT CAPITAL IMPROVEMENT PROGRAM PROJECT APPROPRIATION ORDINANCE FOR PROCEEDS FROM SALE OF GENERAL PURPOSE BONDS, SERIES 2001 AND CRITICAL CAPITAL PROJECTS APPROPRIATION ORDINANCE FOR PROCEEDS FROM SALE OF CERTIFICATES OF OBLIGATION, SERIES 2001 RECOMMENDATION In order to appropriate funds resulting from the March 2001 Bond Sale to enable staff to expend these funds on bond projects and critical capital projects, it is recommended that the City Council 1 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by $8,260,000 for Capital Improvement Projects as follows, and • STREET IMPROVEMENTS *1998 Capital Improvement Program Neighborhood Streets $1,871,276 Arterial Street and Urban Design $2,000,000 Regional Projects -City's Part $1,260,000 • PARKS AND COMMUNITY SERVICES *1998 Capital Improvement Program $ 2,228,724 • FIRE SERVICES *1998 Capital Improvement Program $ 900,000 ''See attached listing of proposed projects. 2 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by $5,125,000 for Critical Capital Projects as follows • STREET IMPROVEMENTS I-30/Lancaster Realignment Project $1,125,000 Traffic Signals Unspecified $4,000,000 DISCUSSION In early ;D;ecember 2000, staff presented the "Un/Underfunded Capital Needs Strategy" to the City Council, which the City Council endorsed This report identified some unfunded and underfunded capital needs' in the amount of $44 6 million that were in immediate need of funding, before the formulation of the next Capital Improvements Program These projects were comprised of two components. a)1 Projects in the 1998 and 1993 Capital Improvements Program, where it was anticipated that allotted funds would be inadequate for completion, and b) Other capital projects which had not been anticipated, along with several federal/regional projects in transportation, parks, and aviation whereby City participation was required City of Fort Worth, Texas ~-~A~ar And Caunc~( an~tirtun~cA~ian C DATE REFERENCE NUMBER LOG NAME PAGE 6/5/01 **G-13257 13GP-BONDS 2 of 2 suB.lECT CAPITAL IMPROVEMENT PROGRAM PROJECT APPROPRIATION ORDINANCE FOR PROCEEDS FROM SALE OF GENERAL PURPOSE BONDS, SERIES 2001 AND CRITICAL CAPITAL PROJECTS APPROPRIATION ORDINANCE FOR PROCEEDS FROM SALE OF CERTIFICATES OF OBLIGATION, SERIES 2001 This report also recommended a financing plan to address these needs Based on updated service models, it was determined that these critical capital projects could be accommodated without a tax rate increase, but it would be necessary to extend the implementation of some of the projects to Year 2004 At the same time, staff reported that while it was feasible to issue the remaining 1998 Capital Improvements Program funds, it would also be necessary and feasible to issue $44 6 million in Certificates of Obligation over the next four years to cover these needs as they materialize As a result, by using a combination of Certificates of Obligation and voted funds in each of the next four years, the critical needs could be addressed Staff also presented a Specific Project Implementation Plan for these projects. Accordingly, on February 27, 2001, the City Council authorized the sale of $8,260,000 in General Purpose Bonds, Ordinance No 14531, and $5,125,000 in Certificates of Obligation, Ordinance No 14532, specifically for funding these critical projects outlined in the report. FISCAL INFORMATION/CERTIFICATION The Finance Director certifies that funds are available as a result of the March 2001 bond sale for the recommended appropriations. CB k Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) 1)C115 541200 020115040901 $1,871,276 Charles Boswell 8511 1) C115 541200 020115023901 $2,000,000 Originating Department Head: 1)C115 541200 020115021901 $1,260,000 1)C181 541200 020181051010 $2,228,724 1) C132 541200 020132011037 $ 600,000 ~R©v~~ 1) C132 541200 020132011039 $ 300,000 CITY COUI~~IL 2)C116 541200 020116021101 $1,125,000 2)C116 541200 020116031901 $4,000,000 JUN 5 2001 Jim Keyes 8517 (from) 1) C115 485201 020115040901 $1,871,276 ~~a,_. ~ Additional Information Contact: 1) C115 485201 020115023901 $2,000,000 ~ ~J Cit S 1 C1 ecretor, ~ ~~ y ) 15 485201 020115021901 $1,260,000 City of FortWortA.?exas 1)C181 485201 020181051010 $2,228,724 1)C132 485201 020132011037 $ 600,000 1)C132 485201 020132011039 $ 300,000 2) C116 485201 020116021101 $1,125;000 Judy Walton 8334 2) C116 485201 020116031901 $4,000,000 Atlar~ted Ordlnan~c sta. ~~.. Adopted ~r+ilnanct pia, -~~~