HomeMy WebLinkAbout063 - 05/03/1994 - APPROPRIATING UNANTICIPATED REVENUE IN GENERAL FUND ORDINANCE NO. 63, 1994
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 $18,633.85 as a payment in lieu of taxes for 1993
("PILOT") ; and
WHEREAS, pursuant to Resolution 92-93 of the Council of the City of Fort
Collins, the Authority is required to make PILOT's to the City; and
WHEREAS, the Authority has requested that the 1993 PILOT payment be
appropriated for expenditure by the Authority to fund affordable housing related
activities to attend to the housing needs of low-income Fort Collins residents;
and
WHEREAS, said payment of $18,633.85 was not projected as a revenue source
in the 1994 budget of the City; and
WHEREAS, 'the City Council has determined that the provision of af'fordabTe
housing serves an important public purpose and is an appropriate use of these
City 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 Eighteen Thousand Six Hundred Thirty-Three Dollars and 85 Cents
($18,633.85) to be returned to the Authority to fund affordable housing related
activities of Fort Collins residents consistent with the Department Housing and
Urban Development guidelines.
Introduced, considered favorably on first reading, and ordered published
this 19th day of April , A.D. 1994, and to be presentel for final passage on the
3rd day of May, A.D. 1994.
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ATTEST:
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CityClerk
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Passed and adapted on final reading this 3rd d May, A
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ATTEST:
City Clerk