HomeMy WebLinkAboutOrdinance 13406.~
~~
Ordinance 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 ON EXISTING
REVENUE BONDS TO FUND IMPACT FEE ELIGIBLE PROJECTS, PROVIDING FOR A
SEVERABILITY CLAUSE, MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES,
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 1997-98 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 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 on existing revenue bonds 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 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. 13111 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repealed.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 and be in full force and effect and after the date of its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
~ t~
Assistan ty Attorney
3 /~6/9~
Date
Adopted
Effective
City of Fort Worth, Texas
M'Ayar and C,auncil CommunicAt~an
DATE REFERENCE NUMBER LOG NAME PAGE
3/31/98 **G-12170 60FEE 1 of 1
SUBJECT APPROPRIATION ORDINANCE AND TRANSFER OF 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, 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 FY98 retail cost of service studies, it was determined that using impact fee revenues could
lower the rate increase needed to have sufficient revenues to cover FY98 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 revenues will be available to pay principal and
interest on existing revenue bonds used to fund impact fee eligible projects.
FISCAL. INFORMATION/CERTIFICATION
The Director of Fiscal Services 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
the Sewer Capital Project Fund to the Water and Sewer Operating Fund
MG.m
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
1)PS58 488343 070580200040 $ 582,820
Mike Groomer 6140 1) PS58 538040 070580200040 $ 582,820
Originating Department Head: 1) PS58 488353 070580200050 $1,238,494
1)PS58 538040 070580200050 $1,238,494 ^
Lee Bradley, Jr 8207 1) PW53 488013 060530200040 $ 635,663 ~,/
1) PW53 538040 060530200040 $ 635,663 MAR $1
PW53
1
4
8
23
06
5
2
00
0
1
414
64 ~9~
) 0
8 30
5
0
0 ,
$
,8
1) PW53 538040 060530200050 $1,414,864 ~_ ,~
1~~~~
2) PE45 472053 0601000 $2,050,527 F
2) PE45 472058 0701000 $1,821,314 rth, S'exn~
Cih cI F
(from)
2)PW53 538040 060530200040 $ 635,663
Additional Information Contact: 2) PW53 538040 060530200050 $1,414,864
2)PS58 538040 070580200040 $ 582,820
Lee Bradley, Jr 8207 2) PS58 538040 070580200050 $1,238,494
~~opted ~td-ct~st M+~ . _ ~,