HomeMy WebLinkAboutOrdinance 11420~;,
ORDINANCE N0. D
AN ORDINANCE AMENDING THE 1991-92 ASSESSMENT ROLL AND
ASSESSMENT ORDINANCE FOR FORT WORTH IMPROVEMENT DISTRICT N0.
1; REDUCING THE ASSESSMENT AGAINST TWO PARCELS OF PROPERTY
OWNED BY AETNA LIFE INSURANCE CO.; AUTHORIZING A REFUND OF
OVERPAID ASSESSMENTS; DIRECTING THE CITY SECRETARY TO ENGROSS
AND ENROLL THIS ORDINANCE; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council of the City of Fort Worth has
heretofore directed that certain improvements andlor services (the
"Improvements") be provided in the Fort Worth Improvement District
No. 1 (the "District") during the 1991-1992 fiscal year; and
WHEREAS, the City Council held a special benefit hearing and
levied assessments against parcels of property in the District and
the owners thereof for a portion of the cost of such Improvements
during the 1991-1992 fiscal year, which assessments were levied by
the Council pursuant to the Public Improvement District Assessment
Act. V.T.C.A., Local Government Code, Section 372.001 et seq.; and
WHEREAS, such assessments were levied by the City Council
through the adoption of an assessment roll and an assessment
ordinance; and
WHEREAS, the City Council's decision concerning the amount of
such assessments was based on the appraised value of the parcels of
property as determined by the Tarrant Appraisal District on January
1, 1991; and
WHEREAS, Aetna Life Insurance Co. filed suit iVo. 96-136$64-91
against the Tarrant Appraisal District in the 96th District Court
of Tarrant County, appealing from the 1991 appraised value
established by the Tarrant Appraisal District for Lots 2 and 3,
Block 111, Fort Worth Original Town and Lots 1-16, Block 112, Fort
Worth Original Town, which property is located in the District; and
WHEREAS, judgment was entered in such suit and the judgment
reduced the appraised value of the said parcels of property; and
WHEREAS, it is necessary to amend the assessment roll and
assessment ordinance which levied the FY 1991-1992 assessments
against such property and the owners thereof to reflect the new
appraised values established by the 96th District Court and the
assessments based thereon;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
That the assessment roll and ordinance which levied
assessments against parcels of property and the owners thereof on
behalf of Fort Worth Improvement District No. 1 during the 1991-
1992 fiscal year be and are hereby amended by changing the
assessment levied against the following parcels of property and the
owners thereof to read as follows:
Acct./Owner
00005649
Aetna Life
Insurance Co.
00005711
Aetna Life
Insurance Co.
Legal
Description
Lots 2 & 3
Block 111,
Fort Worth
Original Town
Lots 1-16
Block 112,
Fort Worth
Original Town
Appraised
Value
$1,680,652.00
$3,329,247.00
Assessment
$1,344.52
$2,663.40
II.
That the amount of any previously paid FY 1991-1992
assessments against the respective parcel of property and the
owners thereof in excess of the amended assessment amount shall be
refunded to the property owners.
III.
That except as heretofore and hereby amended, the assessment
roll and assessment ordinance approved and adopted by the City
Council for Fort Worth Improvement District No. 1 for the 1991-1992
fiscal year shall remain unchanged and shall continue in full force
and effect.
IV.
The City Secretary is hereby directed to engross and enroll
this ordinance by copying the caption of same in the Minute Book of
the City Council of Fort Worth, Texas, and by filing the complete
ordinance in the ordinance records of said City.
V.
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.
PASSED AND APPROVED this ~ day of (~-c~e~-. , 1993.
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APPROVED AS TO FORM AND LEGALITY:
City Attorney
Date : ~ "' Z ~ "` ~ 3
EFFECTIVE:
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+tA5fER FILE 1
ACCOUNTING 2 /7~~~ ~~ ~®~ ~~,.TO~~~ ~~~~~
iRANSPURI'ATIpN~PUBLIC WORKS~111 ^`J W
.N O f ER NUtv11N l: 7 R.uyor ~cy-~ Cour~!cil Communication
t:auda3~ D TE REFERENCE NUMBER LOG NAME PAGE
1,0/12/93 **G-14372 13AMEND 1 of 2
SU~JEGT AMENDMf=NT TO FY 1991-92 ASSESSMENT ROLL FOR FORT WORTH
IMPROVEMENT DISTRICT NO 1 AND APPROVAL OF REFUNDS
RECOMMENDATION.
It is recommended that the City Council
1 Adopt the attached ordinance which amends the FY 1991-92 assessment roll for Fort
Worth Improvement District No 1, and
2 Authorize the Finance Department to refund, to Aetna Life Insurance Co 51,954 67 in
overpaid assessments on account 00005649 and 54,296 04.in overpaid assessments on
account 0000571 1 -
.DISCUSSION
\In Cause No. 96-136864-91, in the 96th District Court, Aetna Life Insurance appealed the 1991
assessed valuations set by the Tarrant Appraisal District for Lots 2 and 3, Block 1 1 1, Fort Worth
Original Town (account 00005649) and Lots 1-16, !Block 112, Fort Worth Original Town
(account 0040571 i) On February 19, 1993, an agreed judgment which reduced the assessed
valuation for the two ;properties was entered in the suit..
These properties are in -Fort Worth Improvement District No 1 Adoption of the attached
ordinance would make the following amendment to the 1991-92 assessment roll for PID ~No 1
Account 'OOb05'64'9 Aetna .LifeInsurance Company
Old Value 54,123,986,00 Assessment ,Paid
New Value '51,680,652 00 Assessment Dine
Refund
Account 0000'5711 Aetna Life 'Insurance Company
Old Value 58,699,300'00 Assessment Paid
New Value '53,329,247 00 Assessment Due
Refund
5 3, 2'9'9 19
5 '1..344.'6 2
51,9'54 '67
5 6,'9.5.9 44
52,663.40
54,29'6 X04
•-~~ iPririted on recycled paper
City of Fort Worth, Texas
Mayor and Council Communication
DATE
10/12/93 REFERENCE NUMBER
**G-10372 LOG NAME
13AMEND PAGE
2 of 2
SUBJECT AMENDMENT TO FY 1991-92 ASSESSMENT ROLL FOR FORT WORTH
IMPROVEMENT DISTRICT NO 1 AND APPROVAL OF REFUNDS
FISCAL INFORMATION/CERTIFICATION.
The Director of Fiscal Services certifies that the revenues being refunded by this action have
been collected and that the funds required for this refund are available in the Special Assessment
Fund
CBI
Submitted for City 11-Yannger's F[JND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
APPROVED
Charles Boswell 8500 CITY CO
Originating Department head:
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Charles Boswell 8500 (from) 1 ~~
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GS87 488342 002100092000 56,250.71 ~_ ,~~~~J
For Additional Information LG~~.e.sJ
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