HomeMy WebLinkAboutOrdinance 11995~. ..
Ordinance No
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE WILL ROGERS IMPROVEMENTS FUND IN THE AMOUNT OF $7,154,782 72 FOR
THE PURPOSE OF FUNDING CONSTRUCTION OF A NEW LIVESTOCK FACILITY AND
ARENA AT THE WILL ROGERS MEMORIAL CENTER; PROVIDING FOR A SEVERABILITY
CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AND
REPEALING ALL PRIOR ORDINANCES IN CONFLICT HEREWITH
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 1994-95 and in the Budget of the City Manager, there shall also be
increased estimated receipts and appropriations in the Will Rogers Improvements
Fund in the amount of $7,154,782 72 for the purpose of funding the construction of
a new livestock facility and arena at the Will Rogers Memorial Center
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 11645 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ordinances and appropriations are hereby expressly repealed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
~ ~ ,c
~¢VCit A orney
G ` /~s~
Date
Adopted
Effective
City of Fort Worth, Texas
Mayor and Council ~,ommunication
DATE REFERENCE NUMBER LOG NAME PAGE
06/13/95 **G11119 . 13sELS 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION OF FUNDS RECEIVED FROM SOUTHWESTERN
EXPOSITION AND LIVESTOCK SHOW FOR CONSTRUCTION OF NEW LIVESTOCK
FACILITY AND ARENA
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached supplemental appropriations ordinance increasing the estimated receipts
and appropriations in the Will Rogers Improvements Fund by $7,154,782 72 from increased
revenues, and
2 Authorize the expenditure of 57,154,782 72 for the purpose of constructing the new
livestock facility and arena at the Will Rogers Memorial Center
DISCUSSION
On December 13, 1994 (M&C C-14610), Council awarded the construction contract for the new
livestock facility and arena at the Will Rogers Memorial Center The financing plan for the
livestock facility and arena included substantial contributions from the Southwestern Exposition
and Livestock Show The Southwestern Exposition and Livestock show has agreed to contribute
its share of the funding on the following schedule, based on the contractor's estimated draws
for the project and the Exposition's own financial requirements
May 15, 1995 51,000,000 00
August 15, 1995 500,000 00
October 19, 1995 1,500,000 00
January 15, 1996 4,154,782.72
TOTAL 57,154,782 72
The full amount of the revenue to be received from the Southwestern Exposition and Livestock
Show has been recorded A receivable (GC66 122001 000660650070) has been created in the
Will Rogers-lrnprovement Fund to which the scheduled payments will be applied
~ s 'Z t'
~ t
~..
tl.~
-~1 Printed on recycled paper
City of Fort Worth, Texas
Mayor and Council C~cr~nmunication
DATE
06/13/95 REFERENCE NUMBER
**G11119 LOG NAME
13SELS PAGE
2 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION OF FUNDS RECEIVED FROM SOUTHWESTERN
EXPOSITION AND LIVESTOCK SHOW FOR CONSTRUCTION OF NEW LIVESTOCK
FACILITY AND ARENA
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that, upon the adoption of the attached supplemental
appropriations ordinance, funds for this expenditure will be available in the current capital budget
of the Will Rogers Improvement Fund The Department of Fiscal Services is responsible for the
collection of these funds
CB a
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
(1) GC66 488100 020660650070 $7,154,782.72 gppROVEQ
Charles Boswell 8500 (2) GC66 541200 020660650070 7,154,782.72 ` ,
Originating Department Head: ~~~
~®~~~'~
Y
Charles Boswell 8500 (from) d~N ~$ ~~~
(2) GC66 541200 020660650070 7,154,782.72
For Additional Information ~~ ~-~. J
Contact: City Sgasehtp of tha
Cit
f F
~
Charles Boswell 8500 y o
ort
oxtlt,Tcsxn$
Adopted. Ordnance No. ~-t~`°~ ~~ Printed on recycled paper