HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 07/06/1999 - ITEMS RATIFYING THE ACTIONS OF THE WATER, WASTEWAT I
ITEM NUMBER: 11
AGENDA ITEM SUMMARY DATE: July 6, 1999
. FORT COLLINS CITY COUNCIL STAFF:
Steve Roy
SUBJECT:
Items Ratifying the Actions of the Water, Wastewater, and Stormwater Utility Enterprise Boards.
RECOMMENDATION:
Staff recommends adoption of the Ordinances on Second Reading.
EXECUTIVE SUMMARY:
A. Second Reading of Ordinance No. 103, 1999, Ratifying Appropriations of Bond Proceeds
in the Water Fund.
• B. Second Reading of Ordinance No. 104, 1999, Ratifying Appropriations of Bond Proceeds
in the Wastewater Fund.
C. Second Reading of Ordinance No. 105, 1999, Ratifying Appropriations of Bond Proceeds
in the Storm Drainage Fund.
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. These ordinances, which were unanimously adopted on
First Reading on June 15, 1999, 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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AGENDA ITEM SUMMARY ITEM NUMBER: 18 A-C
DATE: June 15, 1999
FORT COLLINS CITY COUNCIL STAFF:
Steve Roy
SUBJECT:
Items Ratifying the Actions of the Water, Wastewater, and Stormwater Utility Enterprise Boards.
RECOMMENDATION: '
Staff recommends adoption ofi Ordmancesr,on Fjrst Readin
EXECUTIVE SUMMARY:
A. First Reading of Ordinance No. 103, 1999, Ratifying Appropriations of Bond Proceeds in
the Water Fund.
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 CitiCharter'grants only'the Council the power to appropriate funds.
Therefore,this action by the Council is recommended in order°fo'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.