HomeMy WebLinkAbout083 - 08/03/1993 - APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSPORTATION FUND FOR THE TRANSPORTATION CORRIDOR PROJECT ORDINANCE NO. 83, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSPORTATION
DIVISION OF THE TRANSPORTATION FUND FOR THE
TRANSPORTATION CORRIDOR PROJECT
WHEREAS, the City Council passed Resolution 93-110 on July 20, 1993,
authorizing the City to enter into an intergovernmental agreement with the
Colorado State Department of Transportation for the receipt of Surface
Transportation Program (STP) funds to be used for the Transportation Corridor
Project of US Highway 287/Colorado Highway 14 from Interstate 25 on the east to
the interchange with the Laporte Bypass on the west ("the Project") ; and
WHEREAS, the City must appropriate the funds needed for the Project from
the Transportation Division of the Transportation Fund; and
WHEREAS, the total cost of the Project is estimated to be $100,000; and
WHEREAS, the City anticipates receiving $80,000 in Federal STP funds and
$15,000 from the Colorado Department of Transportation (State funds) to be used
for the Project; and
WHEREAS, the City's share of $5,000 is budgeted and appropriated in the
Transportation Division of the Transportation Fund for the Project; and
WHEREAS, the additional $95,000 needed for the Project must be appropriated
from the Transportation Division of the Transportation Fund so that the Project
may proceed prior to the City's actual receipt of the STP funds and the State
funds; and
WHEREAS, the Transportation Division of the Transportation Fund will be
reimbursed upon the receipt of said federal and State funds.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1 . That there is hereby appropriated from the Transportation
Division of the Transportation Fund the amount of Ninety-five Thousand Dollars
($95,000) to be used for the Transportation Corridor Project of US Highway
287/Colorado Highway 14 from Interstate 25 on the east to the interchange with
the Laporte Bypass on the west ("the Project") .
Section 2. That said amount of Ninety-five Thousand Dollars ($95,000)
shall be reimbursed to the Transportation Division of the Transportation Fund
upon receipt of the above-referenced Surface Transportation Program funds and
Colorado Department of Transportation funds for the Project.
Introduced, considered favorably on first reading, and ordered published
this 20th day of July, A.D. 1993, and to be presented foo final passage on the
3rd day of August, A.D. 1993.
ATTEST: M or
City Clerk �—
Passed and adopted on final reading this 3rd August,
l
ATTEST: Mayor
City Clerk �Q