HomeMy WebLinkAbout164 - 10/20/1987 - DETERMINING AND FIXING THE MILL LEVY FOR THE DOWNTOWN DEVELOPMENT AUTHORITY FOR 1988 AND RELATING TO ORDINANCE NO. 164 1987
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING AN ORDINANCE DETERMINING AND FIXING
THE MILL FOR THE FORT COLLINS DOWNTOWN
DEVELOPMENT AUTHORITY FOR FISCAL YEAR 1988
AND RELATING TO THE ANNUAL APPROPRIATIONS FOR
THE FISCAL YEAR BEGINNING JANUARY 1, 1988
AND ENDING DECEMBER 31, 1988 IN THE
DOWNTOWN DEVELOPMENT AUTHORITY FUND
WHEREAS, the Fort Collins Downtown Development Authority has been duly
organized in accordance with Section 31-25-804, C.R.S. ; and
WHEREAS, on July 15, 1987, the Board of the Downtown Development
Authority met to adopt a 1988 budget, and on October 1 , 1987 to determine
the mill levy necessary to provide for payment during the ensuing budget
year of all properly authorized demands against the Downtown Development
Authority; and
WHEREAS, the Board of the Downtown Development Authority has
recommended to the Council of the City of Fort Collins adoption of a mill
levy of 3.051 mills on the valuation for assessment of property in the
Downtown Development Authority District; and
WHEREAS, the Council of the City of Fort Collins approved the 1988
budget of the Fort Collins Downtown Development Authority by Resolution
87-149; and
WHEREAS, it is the desire of the Council City of Fort Collins to
appropriate the sum of ONE HUNDRED SEVENTY-TWO THOUSAND EIGHT HUNDRED
EIGHTY-SIX DOLLARS ($172,886) for operations and maintenance.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1 . That the mill levy rate for taxation upon all the taxable
property within the Downtown Development Authority District for the fiscal
year ending December 31, 1988, shall be 3.051 mills, which levy represents
the amount of taxes for the downtown Development Authority. Said mill levy
of 3.051 mills shall be distributed to General Expense, which levy as so
distributed shall be certified to the Board of County Commissioners of
Larimer County, Colorado, by the City Clerk as provided by law.
Section 2. That there is hereby appropriated for expenditure in the
DDA Fund the sum of ONE HUNDRED SEVENTY-TWO THOUSAND EIGHT HUNDRED
EIGHTY-SIX DOLLARS ($172,886) for operations and maintenance for the fiscal
year ending December 31 , 1988.
Introduced, considered favorably on first reading, and ordered
published this 6th day of October, A.D. 1987 and to be presented for final
passage on the 20th day of October, A.D. 1987.
/A!ss;-foo f Mayor
ATTEST:
(in�DLa
City Clerk
Passed and adopted on final reading this 20th day of October, A.D.
1987.
ATTEST::
UM�tq 2
City Clerk