HomeMy WebLinkAboutOrdinance 13156Ordinance No. f ,3 ~ ~
AN ORDINANCE INCREASING THE ESTIMATED RECEII'TS AND APPROPRIATIONS IN THE
WATER AND SEWER COMMERCIAL PAPER FUND IN THE AMOUNT OF $25,000,000.00
THROUGH THE EXECUTION OF THE THIRD AMENDED AND RESTATED CREDIT
AGREEMENT, 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 1996-97 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 $25,000,000 00 through the execution of the Third Amended and Restated Credit Agreement.
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. 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
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repealed.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
`~
Assistant Attorney
"/9/9~
Date
~-1~ 97
Adopted
q-i~-~?
Effective
City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
09/16/97 **G-11995 601NCREA 1 of 1
SUBJECT APPROPRIATION ORDINANCE FOR 525,000,000 00 COMMERCIAL PAPER CREDIT
LINE
RECOMMENDATION
It is recommended that the City Council adopt the attached appropriation ordinance increasing.
estimated receipts and appropriations by 525,000,000 00 in the Water and Sewer Commercial
Paper Funds
DISCUSSION
On July 27, 1997, the City Council adopted Ordinance No 13108 (M&C C-16195), authorizing
the execution of a Third Amended and Restated Credit Agreement This agreement, among the
City, The Sakura Bank and the Canadian Imperial Bank of Commerce, allows for increasing the
credit facility supporting the Water and Sewer System's Commercial Paper program from 550
million to 575 million
It is necessary to appropriate the 525,000,000 00 increase in the credit line in order to begin
allotting to specific capital projects These items will be brought to the City Council as contract
awards and/or change orders are required
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that funds are available in the Commercial Paper Funds
for the recommended appropriation as a result of the executed agreement
MG m
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
~~~
Mike Groomer 6140. ~~T~ ~~~~
Originating Department Head:
SEP ~.~ 1997
Lee Bradley, Jr 8207 (from}
PW77 488102 060770159010 $12,500,000 00 (~.~'r-+~~~si a~
For Additional Information PS46 488102 070460139010 $12,500,000.00 City ~~ r'f tb
"tex:~s
City of :~cz4 1~'ort:
Contact: PW'77 541300 060770159010 $12,500,000.00 ,
Lee Bradley Jr 8207 PS46 541300 070460139010 $12,500,000.00
t ~ i~ ~,~i~(f`,S~P,S~i`~~ i°y lee .t...!``~G
Printed on Recyded Paper '