HomeMy WebLinkAboutOrdinance 13511r
ORDINANCE NO ~ 3 Sfl
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE STATE REVOLVING FUND-SEWER IN THE
AMOUNT OF $60,980,000 FROM BOND PROCEEDS SOLD TO THE TEXAS
WATER DEVELOPMENT BOARD FOR THE PURPOSE OF FUNDING SEWER
SYSTEM PROJECTS, PROVIDING FOR A SEVERABILITY CLAUSE, 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 the Fiscal Year 1997/98 and u1 the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
State Revolving Fund -Sewer in the amount of $60,980,000 from bond proceeds sold to the Texas Water
Development Board for the purpose of funding the following projects: West Fork Interceptor - WF4, West Fork
Interceptor - WF5, Inflow and Infiltration Abatement Projects, and Loan Origination Fee, Cost of Issuance,
Insurance, etc..
SECTION 2.
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and appropriations are hereby expressly repealed.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 from and after the date of its passage, and it is so
ordained.
APPROVED AS TO FORM AND LEGALITY
L. ~,_
Assistant Attorney
9-/~%'~
Date
~~
Adopted
-~- 7~
Effective
City of Fort Worth, Texas
M,'Ayar And Caunc~l ~ommunicAtian
DATE REFERENCE NUMBER LOG NAME PAGE
7/7/98 **G-12260 60BONDS 1 of 1
SUBJECT APPROPRIATION ORDINANCE FOR $60,980,000 WATER AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE BONDS SERIES 1998
RECOMMENDATION
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations by $60,980,000 in the State Revolving Fund-Sewer for Sewer System
projects as follows.
West Fork Interceptor - WF4 $ 3,735,000 00
West Fork Interceptor - WF5 $ 5,540,000 00
Inflow and Infiltration Abatement projects (AO) $50,389,898 00
Loan origination fee, Cost of issuance, Insurance, etc. $ 1,315.102.00
TOTAL $60,980,000 00
DISCUSSION
On April 28, 1998 (M&C G-12196), the City Council approved Ordinance No 13429, authorizing the sale
of $60,980,000 Water and Sewer Subordinate Lien Revenue Bonds to the Texas Water Development
Board
The $60,980,000 bond proceeds are to be used for projects as indicated in the recommendation above
The lower interest rates received will greatly assist the City of Fort Worth in meeting the requirements of
the U S Environmental Protection Agency Administrative Order All funds are being appropriated into
unspecified accounts to be transferred and used to reimburse applicable expenses previously funded with
commercial paper or identified on contracts brought before City Council for award
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that funds are available in the State Revolving Fund-Sewer as a result of
the June bond sale for the recommended appropriations
MGj
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by• (to)
PE42 488112 070420169010 $60,980,000.00
Mike Groomer 6140 PE42 541200 070420169010 $60,980,000 00
Originating Department Head. 4~4 ~ ~~1~;;~~`~;~
Lee Bradley, Jr 8207
(from) a
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Additional dnformation Contact: i:~% ~~ !,,': ,_,,, J
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Lee Bradley, Jr 8207 E,.?~;- ~,` ~ , : t?"r<t1i, Y~zss~
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