HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 06/01/1999 - SECOND READING OF ORDINANCE NO. 81, 1999, APPROPRI AGENDA ITEM SUMMARY ITEM NUMBER:
DATE: June 1, 1999
FORT COLLINS CITY COUNCIL STAFF:
Dave Agee
SUBJECT:
Second Reading of Ordinance No. 81, 1999, Appropriating Proceeds from the Issuance of City of
Fort Collins,Colorado,Stormwater Utility Enterprise,Storm Drainage Revenue Bonds,Series 1999,
Dated June 1, 1999, in the Aggregate Principal Amount of $20,060,000, and Appropriating
Unanticipated Revenues in the Storm Drainage Fund for Bond Debt Service.
RECOMMENDATION:
i
Staff recommends adoption of the Ordinance on Second Reading.
t
P
EXECUTIVE SUMMARY: {
Ordinance No. 81, 1999, was unanimously ,adopted on First Reading on May 18, 1999, and P€
appropriates bond proceeds in the Storm Drainage Fund for the acquisition and construction of storm
drainage improvements and the cost of issuing the bonds as well as amounts to pay debt service on
the bonds in 1999.
lip
4
t
i
I
t
4
E
AGENDA ITEM SUMMARY ITEM NUMBER: 18
DATE: May 18, 1999
go FORT COLLINS CITY COUNCIL
STAFF: Dave Agee
SUBJECT:
First Reading of Ordinance No. 81, 1999,Appropriating Proceeds from the Issuance of City of Fort
Collins, Colorado, Stormwater Utility Enterprise, Storm Drainage Revenue Bonds, Series 1999,
Dated June 1, 1999, in the Aggregate Principal Amount of $20,060,000, and Appropriating
Unanticipated Revenues in the Storm Drainage Fund for Bond Debt Service.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT:
The Ordinance would appropriate$20,060.000 ofbond proceeds in the Storm Drainage Fund for the
acquisition and construction of storm'drainajeirnprov6meixts and he cost of issuing the bonds as
well as amounts to pay debt service on the bonds in 1999.
EXECUTIVE SUMMARY:
The Board of the Stormwater Utility Enterprise will be considering an Ordinance later during
tonight's Council Meeting to consi3ec the issuance ofQt!rbf Foi FCollins, Colorado, Stormwater
Utility Enterprise, Storm Drainage Revenue Bonds,,,Series 1999, Dated June 1, 1999, in the
Aggregate Principal Amount_of $20,060,000r- Authorizing<the issuance of the bonds and
appropriating the proceeds are both necessary io complete the'b6nd transaction.