HomeMy WebLinkAboutOrdinance 13325Ordinance No. ~ .3 ~ o~ .j
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AN ORDINANCE APPROPRIATING $5,588,203 00 TO THE GENERAL FUND, AND DECREASING THE
UNRESERVED, UNDESIGNATED GENERAL FUND BALANCE BY THE SAME AMOUNT FOR THE
PURPOSE OF PROVIDING FUNDING FOR THE PURCHASE OF THE FORMER TARRANT COUNTY
CONVENTION CENTER AND ASSOCIATED PROPERTIES, 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 in the Budget of the City
Manager, there shall also be increased appropriations in the General Fund, in the amount of $5,588,203.00; thereby decreasing the
unreserved, undesignated Fund balance by the same amount for the purpose of providing funding for the purchase of the former Tarrant
County Convention Center and associated properties.
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 judgement 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instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 A O FORM ND LEGALITY
Asses City Attorney
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Date
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Adopted
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Effective
City of Fort Worth, Texas
~1-~Ayor And Caunc~l ammun~cAt~an
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DATE
1/27/98 REFERENCE NUMBER
G-12122 LOG NAME
13APPR0 PAGE
1 of 1
SUBJECT SUPPLEMENTAL APPROPRIATION ORDINANCE FOR 1997-98 EXPENDITURES IN
THE GENERAL FUND FOR THE CONVENTION CENTER
BECOMMENDATION
It is recommended that the City Council adopt the attached supplemental appropriation ordinance
increasing appropriations in the General Fund by $5,588,203 and decreasing the unreserved,
undesignated fund balance by the same amount to fund the operation of the Convention Center
DISCUSSION
On October 28, 1997, the City Council adopted Resolution No 2352 authorizing the purchase of the
former Tarrant County Convention Center and associated properties.
The purchase price was $16,138,264, payable over twenty years in semiannual installments as set forth
in Exhibit C to the installment sale contract. Therefore, the City of Fort Worth will make principal and
interest payments as set forth in the Schedule each February and August 15 Moreover, the purchase
price is supported by a fair market value appraisal obtained by the City and County
While the Convention Center is in transition from County ownership to City ownership, temporary
management of the Center by the County was authorized through a management agreement of the
adopted Resolution This agreement indicated that the County would operate the Center as the City's
independent contractor, of whom the City of Fort Worth would reimburse for customary and necessary
expenses of management and operation
This appropriation includes $890,000 for electricity that will be charged to Non-Departmental throughout
FY98 Also included is an appropriation of $47,927 for grounds maintenance work to be performed at
the Convention Center by the Parks & Community Services Department.
This increase in expenditures if offset by the projected revenues of $3,360,000 for the Convention
Center, thus giving a net increase of $2,228,203 in expenditures to the General Fund
FISCAL INFORMATION/CERTIFI .a-rlnnl
The Director of Fiscal Services certifies that upon adoption of the attached appropriation ordinance,
funds are available in the current operating budget, as appropriated, of the General Fund
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Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
GG01 various 0252000 $4;650,276 ~®~~D
Mike Groomer 6140 GG01 535020 0902501 $ 890,000 ~~~ ~~uNC'~
Originating Department Head: GG01 various 0807021 $ 47,927
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B. Don Magness 8152 (from)
Additional Information Contact:
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Clifford Blackwell 8510
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