HomeMy WebLinkAboutOrdinance 13531Ordinance No. ~ 3 } j
AN ORDINANCE APPROPRIATING $611,224 00 TO THE AIRPORTS FUND AND
DECREASING THE UNRESERVED, UNDESIGNATED, RETAINED EARNINGS BY THE
SAME AMOUNT AND TRANSFER OF SAID FUNDS TO THE CAPITAL PROJECT RESERVE
FUND FOR THE PURPOSE OF REPAYMENT OF PRIOR YEAR GENERAL FUND
ADVANCES, 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 addifion 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 appropriation in the Airports Fund in the amount of
$611,224 00; thereby decreasing the unreserved, undesignated, Retained Earnings by the same amount and transfer of
said funds to the Capital Projects Reserve Fund for the purpose of repayment of prior year General Fund advances.
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 iii 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are hereby expressly repealed.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.
APPR UED AS TO FORM AND LEGALITY
Assistant City Atto
7'-/0 - 9A
Date
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Adopted -~
Effective
City of Font Worth, ~'exas
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DATE REFERENCE NUMBER LOG NAME PAGE
7/21!98 **G-12277 13AIRPORT 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO AIRPORTS FUND AND TRANSFER TO
CAPITAL PROJECTS RESERVE FUND
It is recommended that the City Council
Adopt the attached. appropriation ordinance increasing appropriations by $611,224 in the Airports
Fund and decreasing the unreserved, retained earnings of the Airports Fund by the same amount
from available funds, and
2. Approve the transfer of the same $611,224 from the Airports Fund to the Capital Projects Reserve
Fund
DISCUSSION
In June of 1980, the City of Fort Worth entered into an agreement to sell the Greater Southwest
International Airport (GS1A) On May 9, 1979, as the City was anticipating the sale of GSIA, the City
Council established four priorities for the sale proceeds (M&C G-4167)
1 Resolve all appropriate claims with the Federal Aviation Administration,
2. Defease outstanding revenue bonds,
3 Repay General Fund advances by transferring proceeds to the Capital Projects Reserve Fund,
and
4 Any additional proceeds go into the Capital Projects Reserve Fund to be earmarked especia{ly
for future airport improvements.
This transfer is to satisfy the third of these priorities by earmarking these proceeds specifically for
repayment to the General Fund for prior year advances. These monies will be recorded into the Capital
Projects Reserve Fund Unspecified project.
On June 2, the sale proceeds for 1998 were deposited into the Airports Operating Fund in the amount
of $611,224 To make this amount available for use in the Capital Projects Reserve Fund, a
supplemental appropriation ordinance is necessary
City of Fort Worth, Texas
~~Ay~r gyred ~nc~l ~,~m~n~c~t~~n
DATE
7/21 /98 REFERENCE NUMBER
**G-12277 LOG NAME
13AI RPORT PAGE
2 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO AIRPORTS FUND AND TRANSFER TO
CAPITAL PROJECTS RESERVE FUND
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon the adoption of the supplemental appropriation ordinance,
funds will be available in the current operating budget, as appropriated, of the Airports Fund The cash
balance in the Capital Projects Reserve Fund after this transfer will be $3,589,675
CB.j
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
PE40 538070 0554000 $611,224 APPROVED
Charles Boswell 8511 GC10 472040 013010001000 $611,224 C~T~ ~~` lpp~~~
Originating Department Head: ! V ~V
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Jim Keyes 8517 (from) J
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PE40 538070 0554000 $611,224 ~
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Additional Information Contact: ~
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Citq 5ecr~atary of the
'~exas
t Worth
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Cit
Judy Walton 8334 ,
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Adopted Ordinance No,