HomeMy WebLinkAbout123 - 11/19/1991 - APPROPRIATING REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF BOND DEBT SERVICE FO ORDINANCE NO. 123, 1991
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING REVENUE IN THE
DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR
PAYMENT OF BOND DEBT SERVICE FOR THE YEAR 1992
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 95,
1987, authorized the issuance of Tax Increment Refunded Bonds, Series 1987, dated
May 15, 1988, in the aggregate principal amount of THIRTEEN MILLION FIVE HUNDRED
FORTY-FIVE THOUSAND DOLLARS ($13,545,000) ; and
WHEREAS, principal and interest on the bonds is due and payable annually
and funds sufficient to pay the principal and interest due are available in the
Downtown Development Authority Debt Service fund; and
WHEREAS, the principal and interest due on these bonds for 1992 is ONE
MILLION TWO HUNDRED NINETY-EIGHT THOUSAND DOLLARS ($1 ,298,000) .
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that there is hereby appropriated for expenditure from the Downtown Development
Authority Debt Service Fund the sum of ONE MILLION TWO HUNDRED NINETY-EIGHT
THOUSAND DOLLARS ($1 ,298,000) for payment of debt service in 1992 on the bonds
authorized by Council in Ordinance No. 95, 1987.
Introduced, considered favorably on first reading, and ordered published
this 15th day of October, A.D. 1991, and to be presented for final passage on
the 19th day of November, A.D. 1991 .
'Mlayor
ATTEST:
City Clerk
Passed and adopted on final reading this 19th day of November, A.D. 1991 .
Mayor
ATTEST:
City Cle