HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 06/15/1999 - ITEMS RATIFYING THE ACTIONS OF THE WATER, WASTEWAT i
AGENDA ITEM SUMMARY ITEM NUMBER: 18 A-C
DATE: June 15, 1999
110 FORT COLLINS CITY COUNCIL STAFF'
' Steve Roy ;
SUBJECT:
Items Ratifying the Actions of the Water, Wastewater, and Stormwater Utility Enterprise Boards.
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RECOMMENDATION:
Staff recommends adoption of the Ordinances on First Reading.
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EXECUTIVE SUMMARY:
A. First Reading of Ordinance No. 103, 1999, Ratifying Appropriations of Bond Proceeds in 4
the Water Fund.
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B. First Reading of Ordinance No. 104, 1999, Ratifying Appropriations of Bond Proceeds in
the Wastewater Fund.
C. First Reading of Ordinance No. 105, 1999, Ratifying Appropriations of Bond Proceeds in
the Storm Drainage Fund.
The passage of Amendment 1 (the TABOR Amendment)by the Colorado voters in 1992,required
the City to form enterprises in order for its utilities to be able to issue municipal bonds without an
election. Since that time, all utility bonds have been issued by the appropriate utility enterprise.
Prior to 1999,the appropriation of all amounts relating to each bond issue was included in each bond
ordinance. However, the City Charter grants only the Council the power to appropriate funds.
Therefore,this action by the Council is recommended in order to ensure that bond proceeds for the
utilities have been properly appropriated. The accompanying ordinances ratify the previous actions
of the Utility Enterprise Boards with regard to appropriations relating to all water,wastewater,and
stormwater utility bonds issued between 1993 and 1998.
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• ORDINANCE NO. 103, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
RATIFYING APPROPRIATIONS OF BOND PROCEEDS
IN THE WATER FUND
WI AREAS, Section 19.3(b)of Article V of the City Charter provides that an enterprise of
the City may issue its own revenue bonds or other obligations on behalf of the City; and
WHEREAS, on October 7, 1997, the board of the City of Fort Collins, Colorado, Water
Utility Enterprise (the 'Board") adopted on second reading Ordinance No. I of the Board; and
WHEREAS, Ordinance No. 1 authorized the issuance of City of Fort Collins, Colorado,
Water Utility Enterprise, Water Revenue Bonds, Series 1997, dated October 1, 1997, in the
aggregate principal amount of$10,125,299.78 (the "1997 Bonds"); and
WHEREAS, Ordinance No. 1 by its terms appropriated the proceeds of the 1997 Bonds for
uses appropriate to the purposes of the 1997 Bonds; and
WHEREAS,the 1997 Bonds were issued,and the proceeds of the 1997 Bonds managed and
used in a manner consistent with the terms of Ordinance No. 1; and
WHEREAS, on December 1, 1998, the Board adopted on second reading Ordinance No.2
of the Board; and
WHEREAS. Ordinance No. 2 authorized the issuance of City of Fort Collins, Colorado,
Water Utility Enterprise, Water Revenue Refunding and Improvement Bonds, Series 1998, dated
December 1, 1998, in the aggregate principal amount of$31,580,000 (the "1998 Bonds"); and
WHEREAS, Ordinance No.2 by its terms appropriated the proceeds of the 1998 Bonds for
uses appropriate to the purposes of the 1998 Bonds; and
WHEREAS.the 1998 Bonds were issued,and the proceeds of the 1998 Bonds managed and
used in a manner consistent with the terms of Ordinance No. 2; and
WHEREAS, Section 19.3(b) of Article V of the City Charter further provides that an
enterprise board of the City shall not exercise powers reserved to the Council by the City Charter
or otherwise (other than the power to issue revenue bonds and other obligations); and
WHEREAS, under Section 9,Article V of the City Charter,the City Council is authorized
to make supplemental appropriations by ordinance at any time during the fiscal year,provided that
the total amount of such supplemental appropriations, in combination with all previous
appropriations for that fiscal year, do not exceed the then current estimate of actual and anticipated
revenues to be received during the fiscal year; and
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WHEREAS,for the foregoing reasons,the Council wishes to ratify,by the adoption of this
Ordinance,the appropriation of the proceeds of the 1997 Bonds and the 1998 Bonds, as previously
set forth in Ordinance No. I and Ordinance No. 2,and any and all encumbrances and expenditures
made thereafter in reliance on Ordinance No. 1 and Ordinance No. 2.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLIN'S that the Council hereby ratifies, nunc pro tunc,the appropriation of the proceeds of the
1997 Bonds and the 1998 Bonds as previously set forth in Ordinance No. 1 and Ordinance No. 2,
and any and all encumbrances and expenditures made thereafter in reliance on Ordinance No. I and
Ordinance No. 2.
Introduced, considered favorably on first reading, and ordered published this 15th day of
June, A.D. 1999, and to be presented for final passage on the 6th day of July, A.D. 1999.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 6th day of July, A.D. 1999.
Mayor
ATTEST:
City Clerk
ORDINANCE NO. 104, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
RATIFYING APPROPRIATIONS OF BOND PROCEEDS
IN THE WASTEWATER FUND
WHEREAS, Section 19.3(b)of Article V of the City Charter provides that an enterprise of
the City may issue its own revenue bonds or other obligations on behalf of the City; and
WHEREAS,on June 5, 1995,the board of the City of Fort Collins, Colorado, Wastewater
Utility Enterprise (the 'Board") adopted on second reading Ordinance No. 1 of the Board; and
WHEREAS, Ordinance No. 1 authorized the issuance of City of Fort Collins, Colorado,
Wastewater Utility Enterprise, Sewer Revenue Refunding Bonds, Series 1995, dated June 1, 1995,
in the aggregate principal amount of$13,585,000(the "1995 Bonds"); and
WHEREAS, Ordinance No. I by its terms appropriated the proceeds of the 1995 Bonds for
uses appropriate to the purposes of the 1995 Bonds; and
WHEREAS,the 1995 Bonds were issued,and the proceeds of the 1995 Bonds managed and
used in a manner consistent with the terms of Ordinance No. 1; and
WHEREAS, on September 17, 1996,the Board adopted on second reading Ordinance No.
. 2 of the Board; and
WHEREAS, Ordinance No. 2 authorized the issuance of City of Fort Collins, Colorado,
Wastewater Utility Enterprise, Sewer Revenue Refunding Bonds, Series 1996,dated September 1,
1996, in the aggregate principal amount of$13,800,000 (the "1996 Bonds"); and
WHEREAS,Ordinance No.2 by its terms appropriated the proceeds of the 1996 Bonds for
uses appropriate to the purposes of the 1996 Bonds; and
WHEREAS,the 1996 Bonds were issued,and the proceeds of the 1996 Bonds managed and
used in a manner consistent with the terns of Ordinance No. 2; and
WHEREAS, Section 19.3(b) of Article V of the City Charter further provides that an
enterprise board of the City shall not exercise powers reserved to the Council by the City Charter
or otherwise(other than the power to issue revenue bonds and other obligations); and
WHEREAS,under Section 9,Article V of the City Charter,the City Council is authorized
to make supplemental appropriations by ordinance at any time during the fiscal year,provided that
the total amount of such supplemental appropriations, in combination with all previous
appropriations for that fiscal year,do not exceed the then current estimate of actual and anticipated
revenues to be received during the fiscal year; and
•
WHEREAS,for the foregoing reasons,the Council wishes to ratify,by the adoption of this
Ordinance,the appropriation of the proceeds of the 1995 Bonds and the 1996 Bonds, as previously
set forth in Ordinance No. 1 and Ordinance No. 2, and any and all encumbrances and expenditures
made thereafter in reliance on Ordinance No. 1 and Ordinance No. 2.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the Council hereby ratifies, nunc pro tunc, the appropriation of the proceeds of the
1995 Bonds and the 1996A Bonds as previously set forth in Ordinance No. I and Ordinance No. 2,
and any and all encumbrances and expenditures made thereafter in reliance on Ordinance No. 1 and
Ordinance No. 2.
Introduced, considered favorably on first reading, and ordered published this 15th day of
June,A.D. 1999, and to be presented for final passage on the 6th day of July,A.D. 1999.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 6th day of July,A.D. 1999.
Mayor
ATTEST:
City Clerk
ORDINANCE NO. 105, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
RATIFYING APPROPRIATIONS OF BOND PROCEEDS
IN THE STORM DRAINAGE FUND
WHEREAS, Section 19.3(b)of Article V of the City Charter provides that an enterprise of
the City may issue its own revenue bonds or other obligations on behalf of the City; and
WHEREAS,on August 19, 1997,the board ofthe City of Fort Collins,Colorado,Stormwater
Utility Enterprise (the 'Board") adopted as an emergency measure Ordinance No. 3 of the Board;
and
WHEREAS, Ordinance No. 3 authorized the issuance of City of Fort Collins, Colorado,
Stormwater Utility Enterprise, Storm Drainage Revenue and Refunding and Improvement Bonds,
Series 1997,dated August 1, 1997,in the aggregate principal amount of$9,465,000(the 'Bonds");
and
WHEREAS, Ordinance No. 3 by its terms appropriated the proceeds of the Bonds for uses
appropriate to the purposes of the Bonds; and
WHEREAS,the Bonds were issued, and the proceeds of the Bonds managed and used in a
manner consistent with the terms of Ordinance No. 3; and
WHEREAS. Section 19.3(b) of Article V of the City Charter further provides that an
enterprise board shall not exercise powers reserved to the Council by the City Charter or otherwise
(other than the power to issue revenue bonds and other obligations); and
WHEREAS,under Section 9,Article V of the City Charter,the City Council is authorized
to make supplemental appropriations by ordinance at any time during the fiscal year,provided that
the total amount of such supplemental appropriations, in combination with all previous
appropriations for that fiscal year, do not exceed the then current estimate of actual and anticipated
revenues to be received during the fiscal year; and
WHEREAS,for the foregoing reasons,the Council wishes to ratify,by the adoption of this
Ordinance,the appropriation of the proceeds of the Bonds,as previously set forth in Ordinance No.
3,and any and all encumbrances and expenditures made thereafter in reliance on Ordinance No. 3.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the Council hereby ratifies,nunc pro tune, the appropriation of the proceeds of the
Bonds as previously set forth in Ordinance No. 3, and any and all encumbrances and expenditures
made thereafter in reliance on Ordinance No. 3.
Introduced, considered favorably on first reading, and ordered published this 15th day of
June,A.D. 1999, and to be presented for final passage on the 6th day of July,A.D. 1999.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 6th day of July,A.D. 1999.
Mayor
ATTEST:
City Clerk