HomeMy WebLinkAboutOrdinance 13756Ordinance No -~~~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
WATER CAPITAL PROJECTS FUND IN THE AMOUNT OF $2,050,527 00 AND IN THE SEWER
CAPITAL PROJECTS FUND IN THE AMOUNT OF $1,821,314 00 FROM AVAILABLE FUNDS FOR
THE PURPOSE OF FUNDING THE PAYMENT ON PRINCIPAL AND INTEREST DEBT
ASSOCIATED WITH IMPACT FEE PROJECTS, PROVIDING FOR A SEVERABILITY CLAUSE,
MAKING THIS ORDINANCE CUMULATIVE 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 1998-99 and in the Budget of
the City Manager; there shall also be increased estimated receipts and appropriations in the Water Capital Projects Fund in the
amount of $2,050,527 00 and m the Sewer Capital Projects Fund in the amount of $1,821,314 00 from available funds for the
purpose of funding the payment on principal and interest debt associated with impact fee 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 jurisdiction, such decision, opinion or judgment shall in no way impair the remaming 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. 13540 and all other ordinances and appropnations amending the
same except in those instances where the provisions of this ordinance are in direct conflict with such other ordmances and
appropriations, in which instance said conflicting provisions of said prior ordmances and appropriations are hereby expressly
repealed.
SECTION 4
This ordinance shall take effect and be in full force and effect after the date of its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
2~
Assistant i y Attorney
J~ ~/~
Date
.~o~-i~
Adopted
v5 3 o~-iq
Effective
City of Fort Worth, Texas
M~Ayar And Council CammunicAt~on
DATE REFERENCE NUMBER LOG NAME PAGE
3130!99 **G-12522 60REVENUE 1 of 1
SUBJECT TRANSFER 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 $2,050,527 and $1,821,314 in the Sewer Capital
Project Fund from available funds, 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 for water and wastewater, it was determined that using impact
fee revenues could lower the rate increase needed to have sufficient revenue to cover FY99 budgeted
expenditures While the impact fee ordinance prohibits 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
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 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 revenue will be available to pay principal
and interest on existing revenue bonds used to fund impact fee eligible projects
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon adoption of the attached appropriation ordinance, funds will be
available for transfer in the current capital budgets of the Water Capital Project Fund and Sewer Capital
Project Fund to the Water and Sewer Operating Fund
MG j
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
1) PS58 488343 070580200040 $ 582,820 00
Mike Groomer 6140 1) PS58 538040 070580200040 $ 582,820 00
Originating Department Head: 1) PS58 488353 070580200050 $1,238,494.00 PPROVED
1) PS58 538040 070580200050 $1,238,494.00 A
tt
1) PW53 488013 060530200040 $ 635,663.00 CITY COUNC
1) PW53 538040 060530200040 $ 635,663 00
1) PW53 488023 060530200050 $1,414,864.00 1~+e R :~ ~
1) PW53 538040 060530200050 $1,414,864 00 )
2) PE45 488023 0601000 $2,050,527 00 ~
,, ~,~f'i~hl
2) PE45 488353 0701000 $1,821,314 00 City ~e~ry of the
'
Lee Bradley, 7r 8207 (from) exaa
City of Fort Worth,l
2) PS58 538040 070580200040 $ 582,820 00
Additional Information Contact: 2) PS58 538040 070580200050 $1,238,494 00
2)PW53 538040 060530200040 $ 635,663.00
Lee Bradley, Jr 8207 2) PW53 538040 060530200050 $1,414,864 00
adapted Ordrnan~e Nop