HomeMy WebLinkAboutOrdinance 12457~~.
ORDINANCE NO ~~ /
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE CAPITAL IMPROVEMENTS FUND IN THE
AMOUNT OF $26,350,000.00 FROM INCREASED REVENUE FROM PROCEEDS
FROM THE SALE OF GENERAL PURPOSE BONDS, SERIES 1996 FOR THE
PURPOSE OF FUNDING STREET IMPROVEMENTS AND PARK AND
RECREATION IMPROVEMENTS, 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 1995/96 and in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Capital
Improvements Fund in the amount of $26,350,000.00 from increased revenue from proceeds from the sale of
General Purpose Bonds, Series 1996 for the purpose of funding Street Improvements and Park and Recreation
Improvements.
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 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. 12074 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and appropriations are hereby expressly repealed.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 from and after the date of its passage, and it is so
ordained.
APPROVED AS TO FORM AND LEGALITY
Assist Attorney
j/p~
Date
Adopted
Effective
City of Fort Wordy Texas
Mayor and Council Communication
DATE REFERENCE LOG NAME PAGE
NvMSER **G-11439
04/02/96 20BONDS 1 of 1
SIISJECT CIP PROJECT APPROPRIATIONS FOR PROCEEDS FROM SALE OF GENERAL
PURPOSE BONDS, SERIES 1996
RECOMMENDATIONS
It is recommended that the City Council appropriate 526,350,000 for CIP projects as follows
STREET IMPROVEMENTS
1986 CIP• Fund GS67 5 874,500
1990 CIP• Fund GS11 5 3,005,000
1993 CIP• Fund C111 5 19,956,895
Fund C 112 5 600,000
Fund C 113 5 1,438,105
PARK AND RECREATION IMPROVEMENTS
1986 CIP• Fund GC05 5 475,500
TOTAL 526,350,000
DISCUSSION
The City Council authorized the sale of 526,350,000 General Purpose Bonds on December 19,
1995 (M&C G-1 1345) for Capital Improvements These bonds were sold on January 23, 1996
(M&C G-11383) to Merrill Lynch at a true interest rate of 5 0189%
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that funds are available as a result of the January bond
sale for the recommended appropriations '
MG a
ubmitted for City Manager's FUND ACCOUNT CENTER AMOUNT CIT SECRETARY
Office by: (to)
0 7 ~
GS11 3,005 I
~
GS67 $874,500. ~~ ~0~~( `~
~+
Mike Groomer 6140 C111 19,956,895.
Originating Department Head: C112 600,000. AFR ~ ,~96
C113 1,438,105.
Hugo A. Malanga 7800 (from) ~
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For Additional Information City SeCrstatry e~ ~
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Hugo A. Malanga 7800
Printed on Recycled Paper Adopted Orr~j~<<~~~~~. "~~•