HomeMy WebLinkAbout028 - 03/19/1985 - APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR THE OAK PARK RESI ORDINANCE NO. 28 , 1985
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE
DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR
THE OAK PARK RESIDENTIAL PROJECT
WHEREAS, Article V, Section 15 of the Charter of the City of Fort
Collins permits the Council to appropriate unanticipated revenue received
at any time during the year ; and
WHEREAS, the Downtown Development Authority has issued bonds in the
amount of $8.2 million ; and
WHEREAS, the Authority will be receiving $320,000 from the sale of
land; and
WHEREAS , the Authority wishes to assist in bringing residential
housing to the downtown area.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from unantici -
pated revenue in the Downtown Development Authority Fund the sum of THREE
HUNDRED SEVENTY THOUSAND DOLLARS ($370,000) for the downpayment, improve-
ments , issuance fees , and first year debt service on the Oak Park Residen-
tial Project.
Introduced, considered favorably on first reading and ordered pub-
lished this 19th day of February, A.D. 1985, and to be presented for final
passage on the 19th day of March , A.D. 1985.
Mayor
ATTEST:
City Clerk
1985.Passed and adopted on final reading this 19th day of March, A.D.
Mayor
ATTEST:
City Clerk