HomeMy WebLinkAbout077 - 06/20/1995 - APPROPRIATING UNANTICIPATED REVENUE IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND ORDINANCE NO. 77, 1995
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND
WHEREAS,Article V, Section 15, of the Charter of the City of Fort Collins (the "Charter")
permits the Council to appropriate unanticipated revenue which results from rate or fee increases or
new revenue sources at any time during the year in which such revenue is received; and
WHEREAS, Article V, Section 10, of the Charter provides that federal grant appropriations
shall not lapse if unexpended at the end of the budget year until the expiration of the federal grant;
and
WHEREAS, the City will receive in federal fiscal year 1995-1996 unanticipated revenue in
the form of federal Community Development Block Grant (CDBG) funds totalling $1,151,000
constituting a new revenue source; and
WHEREAS, the City expects to receive CDBG Program income in the 1995-1996 federal
fiscal year in the amount of$40,000; and
WHEREAS,Resolution 95-76 adopted the 1995-1996 Community Development Block Grant
Program.
NOW, THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1. That there is hereby appropriated for expenditure from unanticipated revenue in
the federal fiscal year 1995-1996 in the Community Development Block Grant Fund the sum of ONE
MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS ($1,151,000).
Section 2. That there-is hereby appropriated from unanticipatedprogram income revenue in
federal fiscal year 1995-1996 in the Community Development Block Grant fund the amount of
FORTY THOUSAND DOLLARS ($40,000) for approved Community Development Block Grant
projects.
Section 3. This appropriation is contingent upon the City's actual receipt of this
unanticipated revenue, and the amount appropriated shall not exceed the amount actually received
during fiscal year 1995-1996 from the Community Development Block Grant Program.
Introduced,considered favorably on first reading,and ordered published this 6th day of June,
A.D. 1995, and to be presented for final passage on the 20th day o .D., 1995.
C
ayor
ATTEST:
City Clerk
Passed and adopted on final reading this 20th day of 1u 1995.
ayor
NI"FEST:
c r r ti{ ity Clerk_
Pam: