HomeMy WebLinkAboutOrdinance 12244Ordinance No
AN ORDINANCE APPROPRIATING 510,000,000 00 TO THE WATER AND SEWER OPERATING
FUND, AND DECREASING THE UNRESERVED, UNDESIGNATED WATER AND SEWER OPERATING
FUND BALANCE BY THE SAME AMOUNT FOR THE PURPOSE OF PROVIDING CASH FINANCE FOR
MISCELLANEOUS SEWER PROJECTS, 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 appropriations in the Water and Sewer Operating Fund in
the amount of 510,000,000 00; thereby decreasing the unrestricted, undesignated Fund Balance by the same
amount, for the purpose of providing cash finance for miscellaneous sewer projects
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appropriations are hereby expressly repealed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
;~~~~~~ ~
Assistan 'ty Attorney
~ r ~l~~Q~
Date
J ~ ` y n ,~
Adopted (~
Effective
City of Fort Worth, Texas
Mayor and Council Communication
DATE
LOG NAME I PAGE
1 1 /7/95 **G-11291 60CASH 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO CASH FINANCE MISCELLANEOUS SEWER
PROJECTS
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached supplemental appropriations ordinance increasing the Water and Sewer
Operating Fund appropriations by S 10,000,000 and decreasing the Unreserved,
Undesignated Retained Earnings of the Water and Sewer Operating Fund by the same
amount, and
2 Transfer S 10,000,000 from the Water and Sewer Operating Fund to the Sewer Commercial
Paper Fund, and
3 Adopt the attached appropriations ordinance increasing estimated receipts and
appropriations by $10,000,000 in the Sewer Commercial Paper Fund from increased
revenues
DISCUSSION
During the 1995 Retail Cost of Service Studies, it was determined that a proposed rate increase
could be reduced if Unreserved, Undesignated Retained Earnings were used to cash finance
sewer capital projects that would otherwise require debt financing In order to postpone a bond
sale to convert Commercial Paper to Revenue Bonds, it is necessary to make S 10,000,000
available for immediate use These funds will be used to finance sewer rehabilitation projects
that will be competitively bid and presented to Council before contracts are awarded
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies, that upon adoption of the supplemental appropriations
ordinance, approval of the funds transfer, and adoption of the appropriation ordinance, funds will
be available in the current capital budget of the Sewer Commercial Paper Fund to cash finance
projects due to start prior to January 1, 1996
~I W r F.
City of Fort -~orth, Texas
Mayor and Council Communication
DATE
1 1 /7/95 REFERENCE NUMBER
**G-11291 LOG NAME
60CASH PAGE
2 of 2
sUSJECT SUPPLEMENTAL APPROPRIATION TO CASH FINANCE MISCELLANEOUS SEWER
PROJECTS
The Unreserved, Undesignated Retained Earnings of the Water and Sewer Operating Fund will
be 5216,626,634 00 after this supplemental appropriation action is complete
MG a
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
(1) Pl"s45 538070 0709020 $10,000 000.00
Mike Groomer 6140 (2) PS46 541200 070460459010 $10,000 000 00 APPROVED
Originating Department Head: (3) PS46 .541200 070460459010 $10,000,000.00 CITY COUNCIL
Lee Bradley, Jr 8207 (from) lYOV '~ 1995
(2) PIAS 538070 0709020 $10,000,000.00
For Additional Information ~lcd,t~ ~il,e~l,ta(./
Contact: City Secretary of the
oi_ Port Wor4h, TOX!!6
Cit
Lee Bradley Jr 8207 y
Adopted Ordnance No. Adopted Ordnance No..~