HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 09/17/2002 - SECOND READING OF ORDINANCE NO.123, 2002, APPROPRI AGENDA ITEM SUMMARY ITEM NUMBER: 10
FORT COLLINS CITY COUNCIL DATE: September 17, 2002
FROM: Michael B. Smith
SUBJECT :
Second Reading of Ordinance No. 123. 2002, Appropriating Proceeds from the Issuance of City of
Fort Collins, Colorado, Stormwater Utility Enterprise,Storm Drainage Revenue Refunding Bonds,
Series 2002, Dated September 15, 2002, in the Aggregate Principal Amount of$2,800,000.
i
RECOMMENDATION:
I
Staff recommends adoption of the Ordinance on Second Reading.
I
EXECUTIVE SUMMARY:
The Board of the Stormwater Utility Enterprise is scheduled to consider, at its meeting subsequent
to the meeting of the City Council, Ordinance No. 007 of the Stormwater Utility Enterprise Board
authorizing the issuance of City of Fort Collins, Colorado, Stormwater Utility Enterprise, Storm
Drainage Revenue Refunding Bonds, Series 2002, Dated September 15, 2002, in the Aggregate
Principal Amount of $2,800,000. Authorizing the issuance of the Bonds and appropriating the
proceeds are both necessary to complete the bond transaction. This Ordinance, which was
unanimously adopted on First Reading on September 3, 2002, appropriates the proceeds of the
Bonds, contingent upon the final approval and issuance of the Bonds.
i
i
i
i
AGENDA ITEM SUMMARY ITEM NUMBER: 15
FORT COLLINS CITY COUNCIL DATE: September 3, 2002
STAFF: Michael B. Smith
SUBJECT:
First Reading of Ordinance No. 123,2002,Appropriating Proceeds from the Issuance of City of Fort
Collins,Colorado,Stormwater Utility Enterprise,Storm Drainage Revenue Refunding Bonds,Series
2002, Dated September 15, 2002, in the Aggregate Principal Amount of$2,800,000.
I RECOMMENDATION:
Staff recommends adoption oCeOrdi ce o Pt
ding
I
FINANCIAL IMPACT:
Contingent upon the issuance of the proposed Stormwater Utility Enterprise, Storm Drainage
Revenue Refunding Bonds, Series 2002, Dated September 15, 2002, in the Aggregate Principal
Amount of$2,800,000(the"BoCthe
he anfscr,
ro 'ate bond proceeds in the Storm
Drainage Fund for the paymenf ded a nd the cost of issuing the Bonds.
EXECUTIVE SUMMARY:
jThe Board of the Stormwater Utility Enterprise is scheduled to consider, at its meeting subsequent
to the meeting of the City Council Ordinance No. 007 of the Stormwater Utility Enterprise Board
authorizing the issuance of Conds,
olli or o, o ater Utility Enterprise, Storm
Drainage Revenue ReJ ofes 2 2 d Se ber 15, 2002, in the Aggregate
Principal Amount of $2,800t izin h ssuance the Bonds and appropriating the
proceeds are both necessary to complete t e on transaction. his Ordinance appropriates the
proceeds of the Bonds, contingent upon the final approval and issuance of the Bonds.
I
i
i
I