HomeMy WebLinkAboutOrdinances (O-94-957)-08/16/1994
ORDINANCE 0-94-957
AN ORDINANCE AMENDING PROVISIONS OF ORDINANCE 0-
89-741 BY MODIFYING AND LIMITING TRANSFERS,
FRANCHISE TAXES AND ADMINISTRATIVE CHARGES
BETWEEN THE WATER AND SEWER UTILITY FUND AND THE
GENERAL FUND
WHEREAS, the City Council desires to modify the provisions for transfers and
other changes between the Water and Sewer Utility Fund to the
General Fund.
NOW, THEREFORE, BE IT ORDAINED, as follows:
Sec. 1:
Sec. 2:
Sec. 3:
Sec. 4:
That the payment-in-Iieu-of-tax (PILOT) provided for in
Ordinance 0-89-741 shall end on October 1, 1994, and no
payments-in-lieu-of-taxes shall be paid by the Water and
Sewer Utility Fund to the General Fund of the City after
said day.
That the franchise tax paid by the Water and Sewer Fund
to the General Fund as established in Ordinance 0-89-741,
shall end as of October 1, 1995, and no additional franchise
taxes shall be charged or paid by the Water and Sewer
Utility Fund to the General Fund after said day.
That an Operating Transfer shall be paid from the Water
and Sewer Utility Fund to the General Fund for
administrative services provided the Water and Sewer
Utility Fund by the General Fund. Said transfer shall be
made during the last quarter of the fiscal year. The amount
of administrative services transfer shall be four percent
(4%) of the operating revenues as of September 30th of the
preceding fiscal year; provided, however, the dollar amount
transferred for the '94 - '95 fiscal year shall not exceed the
amount transferred for fiscal year '93 - '94. Further, the
dollar amount transferred for fiscal year '95 - '96 and all
subsequent fiscal years shall not exceed One Hundred
Thousand Dollars ($100,000) unless specifically increased
above that amount in each budget year by a Council
resolution.
All provisions of any ordinances of the City which are
inconsistent herewith, are hereby repealed.
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Ordinance 0-94-957
Page 2 of 2
AND IT IS SO ORDERED.
ThE! first reading and public hearing being conducted on the 194 day of
slfJ fy , 1994.
Th~ second reading and public hearing being conducted on the r2,} day of
H'1j/1Sf I 1994.
The third reading and public hearing being conducted on the / M f! day of
Ar:J US f , 1994.
ATTEST: CITY OF COLLEYVILLE
~!!~
City Secretary
?1E9-A)&M AND LEGALITY:
Ross T. Foster
City Attorney
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