HomeMy WebLinkAbout035 - 03/17/1992 - APPROPRIATING FUNDS FOR THE CITYS SHARE OF COSTS FOR THE DOWNTOWN RAILROAD TRACT CONSOLIDATION PROJE ORDINANCE NO. 35, 1992
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS FOR THE CITY'S SHARE OF COSTS
FOR THE DOWNTOWN RAILROAD TRACK CONSOLIDATION PROJECT
WHEREAS, the City of Fort Collins, the Burlington Northern Railroad, the
Union Pacific Railroad, and the Colorado Department of Transportation have the
opportunity to work together to consolidate the railroad tracks in the downtown
area; and
WHEREAS, said Downtown Railroad Track Consolidation Project would improve
train operations and eliminate a majority of tracks in the downtown area,
reducing delays to motorists, traffic construction, air pollution, and improve
the safety of City streets; and
WHEREAS, the estimated cost of the proposed project is One Million Eight
Hundred Seventy Thousand Dollars ($1,870,000) , of which the City's portion would
be Seven Hundred Thousand Dollars ($700,000) , including a Fifty Thousand Dollar
($50,000) contingency for cost overruns; and
WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins,
hereinafter the "Charter", authorizes the City Council to provide by ordinance
for payment of any expense from reserves accumulated in prior years,
notwithstanding that such reserves were not appropriated for expenditure in the
annual appropriation ordinance; and
WHEREAS, Article V, Section 14, of. the Charter authorizes the City Council
to transfer by ordinance, upon the recommendation of the City Manager, any
unexpended appropriated amount or portion thereof from one fund to another,
provided that the purpose for which the transferred funds are to be expended
remains unchanged or the purpose for which the funds were initially appropriated
no longer exists; and
WHEREAS, Article V, Section 4, of the Charter requires that capital
projects be itemized in the budget by individual project; and
WHEREAS, the result of such itemization is that each individual capital
project in the budget is treated as a separate fund; and
WHEREAS, City Council finds that the Downtown Railroad Track Consolidation
Project is in the best interests of the City; and
WHEREAS, the $700,000 needed for the Downtown Railroad Track Consolidation
Project is available within the Capital Projects Fund from the following revenue
sources:
0 1/4 Cent Necessary Capital Project Fund
Balance $362,087
0 1/4 Cent Necessary - Railroad Crossing
Improvements Capital Project 94,000
0 General City Capital Projects Fund Balance 243,913
Total $700,000
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1. That there is hereby appropriated from prior year reserves in
1/4 Cent Necessary Capital Projects THREE HUNDRED SIXTY-TWO THOUSAND EIGHTY-SEVEN
DOLLARS ($362,087) for transfer to General City Capital Projects and appropriated
therein for the Downtown Railroad Track Consolidation Project.
Section 2. That the unexpended appropriated amount of NINETY-FOUR THOUSAND
DOLLARS ($94,000) be authorized for transfer from 1/4 Cent Necessary Capital
Projects Railroad Crossing Improvements Capital Project to General City Capital
Projects to be used for the Downtown Railroad Consolidation Project.
Section 3. That there is hereby appropriated from prior year reserves in
General City Capital Projects TWO HUNDRED FORTY-THREE THOUSAND NINE HUNDRED
THIRTEEN DOLLARS ($243,913) to be used for the Downtown Railroad Consolidation
Project.
Introduced, considered favorably on first reading, and ordered published
this 3rd day of March, A.D. 1992, and to be presented for final passage on the
17th day of March, A.D. 1992.
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Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on this 17th day of March, A.D. 1992.
Mayor proTem
ATTEST:
City Clerk