HomeMy WebLinkAbout207 - 01/06/1987 - AUTHORIZING AN AGREEMENT WITH THE DOWNTOWN DEVELOPMENT AUTHORITY AND LINDEN HOTEL PARTNERSHIP FOR TH ORDINANCE NO. 207 , 1986
BEING AN ORDINANCE AUTHORIZING THE CITY
TO ENTER INTO AN AGREEMENT WITH THE FORT COLLINS DOWNTOWN
DEVELOPMENT AUTHORITY AND LINDEN HOTEL PARTNERSHIP
FOR THE CONSTRUCTION OF CERTAIN PUBLIC IMPROVEMENTS
WITHIN THE FORT COLLINS DOWNTOWN DEVELOPMENT DISTRICT
WHEREAS, the Fort Collins Downtown Development Authority Board of
Directors has authorized its Executive Director to enter into an agreement
between the City of Fort Collins, Linden Hotel Partnership, and the
Downtown Development Authority for the construction of certain public
improvements within the Downtown Development District; and
WHEREAS, said agreement is in furtherance of the goals and objectives
of the Plan of Development of the Fort Collins Downtown Development
Authority and will promote the health, safety, prosperity, security and
general welfare of the inhabitants of the Downtown Development Authority's
District, citizens of the City of Fort Collins, and people of the State of
Colorado and will have especial benefit to the properties within the
Downtown Development Authority District; and
WHEREAS, the Council of the City Fort Collins desires to enter into
such agreement with the Fort Collins Downtown Development Authority and
Linden Hotel Partnership, for the construction of certain public
improvements relating to the Linden Hotel redevelopment.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1 . That the City Manager and City Clerk be, and they hereby
are authorized to execute an agreement with the Fort Collins Downtown
Development Authority and the Linden Hotel Partnership, for the
construction of certain public improvements in the amount of $156,000
associated with the redevelopment of the Linden Hotel .
Section 2. That the City be, and hereby is authorized to perform the
obligations of said agreement as contained therein, to issue and sell bonds
according to the terms of the agreement.
Section 3. That nothing contained in said agreement or herein shall
be deemed to constitute a pledge of the funds, monies, or credits of the
City except as the funds of the City may be appropriated in any fiscal year
to the payments under said agreement.
Introduced, considered favorably on first reading, and ordered
Published this 16th day of December, A.D. 1986, and to be presented for
final passage on the 6th day of January, A.D. 1987.
Mayor
ATTEST:
Z
City Clerk
1987. Passed and adopted on final reading this 6th day of January, A.D.
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Mayor
ATTEST:
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City Clerk