HomeMy WebLinkAboutOrdinance 13287c'
Ordinance No. { ~ ~ ~ ~/
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
WATER AND SEWER COMMERCIAL PAPER FUND IN THE AMOUNT OF $65,000,000 00 FROM
THE SALE OF BONDS FOR THE PURPOSE OF FUNDING THE WATER AND SEWER CAPITAL
IMPROVEMENTS; 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 and Sewer Commercial
Paper Fund in the amount of $65,000,000.00 from the sale of bonds for the purpose of funding water and sewer capital
improvements.
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 duect 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repealed.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
L~
Assistant Attorney
~v 1L4 ~9~
Date
%-~-~<~
Adopted
Effective
City of Fort Worth, Texas
M'Ayar and Council CammunicAt~on
DATE REFERENCE NUMBER LOG NAME PAGE
1/6/98 G-1204 60REFUND 1 of 1
SUBJECT APPROPRIATION OF $65,000,000 00 PROCEEDS FROM WATER AND SEWER
SYSTEM REVENUE REFUNDING AND IMPROVEMENT BONDS, SERIES 1997
RECOMMENDATION
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations by $65,000,000 00 in the Water and Sewer Commercial Paper Funds from
proceeds of the sale of Water and Sewer System Revenue Refunding and Improvement Bonds, Series
1997
I2ISCUSSION
On November 11, 1997, the City Council adopted Ordinance No. 13226, the Fifth Supplemental
Ordinance authorizing the issuance and sale of City of Forth Worth, Texas, Water and Sewer System
Revenue Refunding and Improvement Bonds, Series 1997 An amount of $49.3 million of the proceeds
is being used to retire commercial paper, thus freeing up our line of credit. The remaining $15 7 million
will be distributed to projects where contracts have been awarded by the City Council, through the line of
credit authorization
FISCA
INF
R
O
MATION/CERTIFICATION
L
The Director of Fiscal Services certifies that funds are available in the Water and Sewer Commercial
Paper Funds for the recommended appropriations as a result of the December bond sale.
MG m
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
PW77 488102 060770159010 $23,000,000.00 ~~~
Mike Groomer 6140 PS46 488102 070460139010 $42,000,000.00 ~;,~
(~
T
Originating Department Head: PW77 541200 060770159010 $23,000,000.00 9
4
~~// ! p "~'
PS46 541200 070460139010 $42,000,000.00
~,~ ~~
?~'~~
Lee Bradley, Jr 8207 (from) °
~
f ~~~~
Additi
l I
ti
f
C
t .~:r..r.e;..
ona
n
orma
on
on
act: City i;~'~t~iry od ttt®
City of Fart worth ~`
Lee Bradley, Jr 8207
Adopted Ordmano® No. ~ ~~ '7