HomeMy WebLinkAbout046 - 05/15/1990 - APPROPRIATING STORM DRAINAGE FUND PRIOR YEAR RESERVES FOR PRINCETON/DRAKE STORM SEWER ORDINANCE NO. 46, 1990
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING STORM DRAINAGE FUND
PRIOR YEAR RESERVES
WHEREAS, storm drainage fees are collected in the Spring Creek Basin
to fund the construction of master plan basin improvements as well as minor
capital improvements; and
WHEREAS, the Stormwater Utility has identified the installation of the
Princeton/Drake storm sewer as a minor capital item in the Spring Creek
Basin Improvements capital project; and
WHEREAS, the City wishes to construct Phase III of the Princeton/Drake
storm sewer ahead of schedule in order to realize substantial cost savings;
and
WHEREAS, Article V, Section 5 of the Charter of the City of Fort
Collins (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, Article V, Section 8 of 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 expenditures in the annual appropriation ordinance; and
WHEREAS, funds to cover this expenditure are available from prior year
reserves in the Storm Drainage fund.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated from prior year reserves in the
Storm Drainage fund the sum of Two Hundred Fifty Thousand Dollars
($250,000) for transfer to and expenditure in the Spring Creek Basin
Improvements capital fund to construct Phase III of the Princeton/Drake
storm sewer.
Introduced, considered favorably on first reading, and ordered
published this 1st day of May, A.D. 1990, and to be presented for final
passage on the 15th day of May, A.D. 199
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 15th day of May, A.D. 1990.
r
r
Mayor
ATTEST:
t
City Clerk