HomeMy WebLinkAboutOrdinance 13620Ordinance No ~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
CAPITAL PROJECTS RESERVE FUND IN THE AMOUNT OF $200,000 00 FROM AVAILABLE
FUNDS FOR THE PURPOSE OF FUNDING THE THIRD ANNUAL PAYMENT OF LOTS 2, 3 AND
6B, HIRSCHFIELD ADDITION, 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 m 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 Capital Projects Reserve Fund in
the amount of $200,000 00 from available funds for the purpose of funding the third annual payment of Lots 2, 3, and 6B,
Hirschfield Addition.
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. 13540 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repealed.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
Assistan Attorney
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Date
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Adopted
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Effective
City o, f 'Fort Worth, Texas
n-~Ayar And C,aunc~l C,ar»mun~cAt~an
DATE REFERENCE NUMBER LOG NAME PAGE
10/20/98 **G-12360 30-LONE 1 of 2
SUBJECT APPROPRIATION ORDINANCE TO APPROPRIATE FUNDS FOR THIRD ANNUAL
PAYMENT FOR LOTS 2, 3 AND 6B, BLOCK 2, HIRSCHFIELD ADDITION (OLD LONE
STAR GAS BUILDING)
RECOMMENDAT
It is recommended that the City Council
1 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Capital Projects Reserve Fund by $200,000 00 from available funds, and
2 Authorize the transfer of $200,000 00 from the Capital Projects Reserve Fund to the Specially
Funded Capital Projects Funds, and
3 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Specially Funded Capital Projects Fund by $200,000 00 from available funds
DISCUSSION
The City of Fort Worth entered into a purchase contract with the ENSERCH Corporation for the
purchase of Lots 2, 3 and 66, Block 2, Hirschfield Addition on October 3, 1995 This action was
approved through M&C L-11628
The contract required $10,000 00 earnest money and a payment of $191,007.56 be made at the time of
closing Three equal annual payments of $200,000 00 bearing no interest on the unpaid balance are to
be paid on or before November 30th of each year, beginning in 1996 The total purchase price of the
property was $800,000 00
The first annual payment was approved by City Council on January 21, 1997 (M&C G-11733) The
second annual payment in the amount of $200,000 00 was approved by City Council on November 11,
1997 (M&C G-12061) The third and final payment in the amount of $200,000 00 is now due, on or
before November 30, 1998
City of Fort Worth, Texas
Ayar and Caunc;l ~,ammunecnt~an
~~
DATE ~
10/20/98 REFERENCE NUMBER
**G-12360 LOG NAME
30-LONE PAGE
2 of 2
SUBJECT APPROPRIATION ORDINANCE TO APPROPRIATE FUNDS FOR THIRD ANNUAL
PAYMENT FOR LOTS 2, 3 AND 6B, BLOCK 2, HIRSCHFIELD ADDITION (OLD LONE
STAR GAS BUILDING)
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon approval of the above recommendations and adoption of the
attached appropriation ordinances, funds required for this payment will be available in the current
capital budget, as appropriated, of the Specially Funded Capital Projects Fund The cash balance in
the Capital Projects Reserve Fund after this transfer will be $3,029,870 00
MG k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
1) GG10 472001 013010001000 $200,000.00 ~PROy~O
Mike Groomer 6140 1) GC10 538070 013010001000 $200,000.00
NCIL
Originating Department Head: 2) GC35 472010 030019001000 $200,000 00 CITY COU
3) GC35 472010 030019001000 $200,000.00
3) GC35 541250 013110001000 $200,000.00 OCT M d
A. Douglas Rademaker 6157 (from) ~
)
2) GC10 538070 01301000100 $200,000.00 ~
l~~l
Additional Information Contact: City Secretary of the
City of Fort Worth, Texa9
A. Douglas Rademaker 6157
Adopted Ordi~~anr~ I o. _ ~
~,~p~~~ ~~cil~~nir~ ion