HomeMy WebLinkAbout158 - 11/15/1994 - APPROPRIATING REVENUE IN DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE FOR 1995 ORDINANCE NO. 158, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING REVENUE IN THE
DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR
PAYMENT OF DEBT SERVICE FOR THE YEAR 1995
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, the Council of the City of Fort Collins, in Ordinance No. 36,
1992, authorized the issuance of Tax Increment Revenue and Refunding Bonds, in
order to invoke an early call provision on the City's 1988 Downtown Development
Authority Tax Increment Revenue Refunding and Improvement Bonds, in the aggregate
principal amount of ELEVEN MILLION THREE HUNDRED EIGHTY THOUSAND DOLLARS
($11,380,000) ; and
WHEREAS, interest on the bonds is due and payable annually.
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 ONE HUNDRED TWENTY SIX
THOUSAND SEVEN HUNDRED NINETY-SEVEN DOLLARS ($1,126,797) for payment of debt
service in 1995 on the authorized by Council in Ordinance No. 36, 1992.
Introduced, considered favorably on first reading, and ordered published
this 18th day of October, A.D. 1994, and to be presented for final passage on the
15th day of November, A.D. 1994.
or
ATTEST: n
City Clerk
Passed and adopted on final reading this 15th d November 1994.
May
ATTEST:
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