HomeMy WebLinkAbout069 - 07/07/1992 - APPROPRIATING UNANTICIPATED REVENUE IN GENERAL FUND ORDINANCE NO. 69, 1992
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE GENERAL FUND
WHEREAS, Article V, Section 14 of the Charter of the City of Fort Collins
permits the City Council to appropriate by ordinance unanticipated revenue which
is the result of rate or fee increases or new revenue sources at any time during
the year in which such revenue is received; and
WHEREAS, the City has received a payment from the Fort Collins Housing
Authority ("the Authority") of the sum of $16,990. 19, which payment was
characterized by the Authority as a payment in lieu of taxes for 1991 ("PILOT") ;
and
WHEREAS, pursuant to Resolution 86-177 of the Council of the City of Fort
Collins, the Authority had been relieved of its obligation to make PILOT' s to the
City; and
WHEREAS, said payment of $16,990. 19 was not projected as a revenue source
in the 1992 budget of the City; and
WHEREAS, the City Council has determined that said payment should not be
retained by the City and should be returned to the Authority with the
recommendation that the Authority and the United States Department of Housing and
Urban Development ("HUD") make a determination between themselves as to the
proper and lawful disposition of said funds.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that there is hereby appropriated from unanticipated revenue in the General Fund
the sum of Sixteen Thousand Nine Hundred Ninety and 19/100 Dollars ($16,990. 19)
for return of said sum to the Authority with the recommendation that the
Authority and HUD jointly determine the proper disposition thereof, after full
disclosure by the Authority to HUD of all facts and circumstances surrounding the
payment of said sum.
Introduced, considered favorably on first reading, and ordered published
this 2nd day of June, A.D. 1992, and to be presented for final passage on the 7th
day of July, A.D. 1992.
k/�,(,MA T VA Jt 4r
Mayor
ATTEST:
C�Cler k
Passed and adopted on final reading this 7th day of July, A.D. 1992.
Mayor
ATTEST:
City Clerk