HomeMy WebLinkAboutOrdinance 12930Ordinance No. ~~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
WATER CAPITAL PROJECTS FUND IN THE AMOUNT OF $2,050,527 00 AND IN THE SEWER
CAPTTAL PROJECTS FUND IN THE AMOUNT OF $1,821,314 00 FROM AVAILABLE FUNDS AND
TRANSFER OF SAID AMOUNTS TO THE WATER AND SEWER OPERATING FUND FOR THE
PURPOSE OF FUNDING PAYMENTS OF PRINCIPAL AND INTEREST ON EXISTING DEBTS,
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 vanous City departments for the Fiscal Year 1996-97 and m the Budget of
the City Manager, there shall also be increased estimated receipts and appropriations in the Water Capital Projects Fund in the
amount of $2,050,527 00 and in the Sewer Capital Projects Fund in the amount of $1,821,314 00 from available funds and
transfer of said amounts to the Water and Sewer Operating Furid for the purpose of funding payments of principal and interest
on existing debts.
ti.~~
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 judgement shall in no way irripair 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. 12629 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
appropnahons, in which instance said conflicting provisions of said prior ordinances and appropnations 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repealed.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
f~~
Assistant Attorney
Date
Adopted
Effective
City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
03/25/97 **G-11830 60FEES 1 of 1
SUBJECT TRANSFER IMPACT FEE REVENUES TO OPERATING BUDGET
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached appropriations ordinance increasing estimated receipts and
appropriations in the amount of 52,050,527 in the Water Capital Project Fund and
51,821,314 in the Sewer Capital Project Fund, and
2 Authorize the transfer of 52,050,527 from the Water Capital Projects Fund and
51,821,314 from the Sewer Capital Project Fund to the Water and Sewer Operating Fund
DISCUSSION
During the FY 97 retail rate cost of service studies, it was determined that using Impact Fee
revenues would decrease the amount of water and wastewater rate increase needed to have
sufficient revenues to cover FY97 budgeted expenditures While the Impact Fee ordinance
prohibits Impact Fees from being used for operating expenses, they can be used to pay principal
and interest on existing debt that has been associated with projects that are eligible to be funded
by Impact Fees These Impact Fee revenues were considered when calculating the amount of
debt to be budgeted in the Water and Sewer Operating Fund that are transferred monthly to the
Debt Service Fund By transferring 53,871,841 (52,050,527 from Water Impact Fee revenues
and 51,821,314 from Wastewater Impact Fee revenues) to the Water and Sewer Operating
Fund, a sufficient amount of revenues will be available to pay principal and interest on existing
revenue bonds that were used to fund Impact Fee eligible projects
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that upon approval of the above recommendation and
adoption of the attached appropriations ordinance, funds will be available in the Water and Sewer
Operating Fund
MG m
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
Mike Groomer 6140
Originating Department Head: 1)PS58 488343 070580200040 $ 582,820
1>PSSB s38o7o o7os8o2oo040 $ s82,s2o APPROVED
1)PS58 488353 070580200050 $1,238,494 pr~ CO~At
rp
1)PS58 538070 070580200050 $1,238,494 ~
'~j tL
1)PW53 488013 060530200040 $ 635,663 ~~
1)PW53
538070
060530200040
$ 635,663 ~~
{~9~
1)PW53 488023 060530200050 $1,414,864 ~
~
1)PW53
538070
060530200050
$1,414,864 _"'~'~~%
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City g~r•t
~r Of thv
l
2)PE45 472053 0601000 $2,050,527 i
Y Of Fort Wpr~ T~s
2)PE45 472053 0701000 $1,821,314
Lee Bradley, Jr 8207 (from)
2)PS58 538070 070580200040 $ 582,820
For Additional Information 2)PS58 538070 070580200050 $1,238,494
Contact: 2)PW53 538070 060530200040 $ 635,663
Lee Bradley, Jr 8207 2)PW53 538070 060530200050 $1,414,864
Printed on Bagdad Paper /~ /a,~
Adopted Ordinance No. C~