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HomeMy WebLinkAboutOrdinance 12396Ordinance No ~~~ AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE WHOLESALE AND RETAIL WATER IMPACT FEES IN THE AMOUNT OF $2,050,527 00 AND IN THE WHOLESALE AND RETAIL WASTEWATER IMPACT FEES IN THE AMOUNT OF $1,821,314 00 FOR THE PURPOSE OF FUNDING PAYMENT OF PRINCIPAL AND INTEREST ON EXISTING REVENUE BONDS; 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 Wholesale and Retail Water Impact Fees in the amount of $2,050,527 00 and in the Wholesale and Retail Wastewater Fees in the amount of $1,821,314 00 for the purpose of funding payment of principal and interest on existing revenue bonds 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 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed SECTION 4 This ordinance shall take effect and be in full force and effect and after the date of its passage, and it is so ordained APPROVED AS TO FORM AND LEGALITY Assist City Attorney ~6 `9,~ Date ~/ d ~ ~~~ Adopted Effective City of Fort i~ortl~ Texas Mayor and Council Communication DATE REFERENCE NUMBER LOG NAME PAGE 02/13/96 ~~ 6011VlPACT 1 of 2 SUBJECT TRANSFER IMPACT FEE REVENUES TO OPERATING FUND RECOMMENDATION It is recommended that the City Council 1 Adopt the attached appropriations ordinance increasing estimated receipts and appropriations in Wholesale and Retail Water Impact Fees in the amount of 52,050,527 and in Wholesale and Retail Wastewater Impact Fees in the amount of 51,821,314 00 and, 2 Authorize the transfer of 52,050,527 from Wholesale and Retail Water Impact Fees and 51,821,314 from Wholesale and Retail Wastewater Impact Fees to the Water and Sewer Operating Fund DISCUSSION During the FY 1996 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 FY 1996 budgeted expenditures While the Impact Fee ordinance prohibits Impact Fees from being used for operating expenses, however they can be used to pay principal and interest on existing debt which is associated with eligible capital projects These Impact Fee revenues were considered when calculating the amount of debt to be budgeted in the Water and Sewer Operating Fund as payment to the Debt Service Fund 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 will provide sufficient revenues to pay principal and interest on existing revenue bonds that were used to fund Impact Fee eligible projects Printed on Recyded Paper City of Fort Worth Texas Mayor and Council Communication DATE 02/13/96 REFERENCE NUMBER **G-11393 LOG NAME 601MPACT PAGE 2 of 2 SUBJECT TRANSFER IMPACT FEE REVENUES TO OPERATING FUND FISCAL INFORMATION/CERTIFICATION The Director of Fiscal Services certifies that upon approval and completion of the above recommendation, and adoption of the attached appropriations ordinance, funds will be available in the current capital budgets, as appropriated, of the Water and Sewer Operating Fund MG a Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) 2) PE45 472053 0601000 $2,050,527.00 2) PE45 472058 0701000 $1,821,314 00 1) PS58 488343 070580200040 $582,820 00 1) PS58 538040 070580200040 $582,820 00 1) PS58 488353 070580200050 $1,238,494.00 gppROVEA 1) PS58 538040 070580200050 $1,238,494 00 I TY CC~C~ f~~ f ~, 1) PW53 488013 060530200040 $635,663 00 I'~ ~s Mike Groomer 6140 1) PW53 538040 060530200040 $635 663 00 {~ Originating Department Head: 1) PW53 488023 060530200050 $1 414,864 00 ~~ 1) PW53 538040 060530200050 $1414,86400 C-'~gSeorelaryoftttet Lee Bradley, Jr 8207 (from) ity of Fort ~dorth, ?ex8s 2) PS58 538040 070580200040 $582,820 00 For Additional Information 2) PS58 538040 070580200050 $1,238,494.00 Contact: 2) PW53 538040 060530200040 $635,663.00 Lee Bradley, Jr 8207 2) PW53 538040 060530200050 $1,414,864 00 Printed on Regded Paper Adopted Ordinance N0.