HomeMy WebLinkAboutOrdinance 12278r
r
Ordinance No ~~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS RND APPROPRIATIONS IN
THE SPECIALLY FUNDED CAPITAL PROJECTS FUND IN THE AMOUNT OF
$191, 008 00 FOR THE PURPOSE OF FUNDING THE PURCHASE OF LOTS 2, 3 AND
6B, BLOCK 2, HIRSCHFIELD ADDITION; 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
Specially Funded Capital Projects Fund in the amount of $191,008 00 for the
purpose of funding the purchase of lots 2, 3 and 6B, Block 2, Hirschfield
Addition
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ordinances and appropriations are hereby expressly repealed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
APPR AS TO FORM AND LEGALITY
G/~
Assistant City Attor y
Date
~~~~ ~~~~
Adopted
Effective
City of Fort i~ortl~ Texas
Mayor and Council Communication
NUMBER L-11656 ~ NAME
11 /28/95
30HIRSC ~ 1 of 2
SUBJECT I APPROPRIATION ORDINANCE AND PURCHASE OF LOTS 2, 3 AND 6B, BLOCK 2,
HIRSCHFIELD ADDITION
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached appropriations ordinance increasing estimated receipts and
appropriations in the Capital Projects Reserve Fund by 5191,008 00 from increased
revenues, and
2 Authorize the transfer of 5191,008 00 from the Capital Projects Reserve Fund to the
Specially Funded Capital Projects Fund, and
3 Adopt the attached appropriations ordinance increasing estimated receipts and
appropriations in the Specially Funded Capital Projects Fund by 5191,008 00 from
increased revenues, and
4 Approve the purchase of Lots 2, 3, and 6B, Block 2, Hirschfield Addition and its
improvements, and
5 Authorize the City Manager to sign and record the appropriate instruments
DISCUSSION
Grantor ENSERCH Corporation
The City entered into a purchase contract with the ENSERCH Corporation for the above-
referenced property on October 3, 1995, which was approved through Mayor and Council
Communication L-1 1628 The contract states that closing occur on or before November
30, 1995 The contract required 510,000 earnest money and that amount has been
delivered to Rattikin Title Company A payment of 5191,007 56 shall be made at the time
of closing The contract provides that there will be three equal annual payments of
5200,000, bearing no interest on the unpaid balance, to be paid on or before November
30, of each year, beginning in 1996 The total purchase price of the property is
5800,000
e
L'~• Printed on recycled paper
City of Fort Worth, Texas
Mayor and Council Communication
DATE
11 !28!95 REFERENCE
NUMBER L-11656 LOG
NAME
30HIRSC PAGE
2 of 2
SUBJECT APPROPRIATION ORDINANCE AND PURCHASE OF LOTS 2, 3 AND 6B, BLOCK 2,
HIRSCHFIELD ADDITION
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinances, funds required for this project will
be available in the current capital budget of the Specially Funded Capital Projects Fund
The cash balance in the Capital Projects Reserve Fund after this transfer will be
54,456,496 00
MG b
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by• Ito1
(1-GC 10 472040 013010001000 S 191,008
Mike Groomer 614 11) 1 5 01 01 010 0 191, 0
Originating Department Nead (21(31GC35 472010 030019001000 5191,008
(3)GC35 541250 030019001000 5191,008
A. Douglas Rademaker 6157 (from)
(21GC10 538070 013010001000 5191,00
For Additional Information
Contact:
A. Douglas Rademaker 6157