HomeMy WebLinkAbout042 - 05/04/1993 - APPROPRIATING FUNDS IN THE CAPITAL PROJECTS FUND FOR THREE CHOICES 95 PROJECTS ORDINANCE NO. 42, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS IN THE CAPITAL PROJECTS FUND
FOR THREE CHOICES 95 CAPITAL PROJECTS
WHEREAS, the estimated cost of the recommended construction for three
Choices 95 capital projects (Prospect/Shields Intersection; Prospect/ Taft Hill
Intersection; and Prospect, Shields to Taft Hill ) exceeds the project budgets by
Two Hundred Forty-two Thousand Dollars ($242,000) ; and
WHEREAS, the increase in the estimated construction costs for the
aforementioned projects is the result of bids on the projects which exceeded the
original project budget estimates; and
WHEREAS, Staff is recommending reducing the cost of these projects by
$132,000 and increasing project funds by $110,000; and
WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins
(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 increasing appropriations for the
construction of improvements to said projects is in the best interests of the
City; and
WHEREAS, the additional ONE HUNDRED TEN THOUSAND DOLLARS ($110,000) needed
for the Prospect/Shields Intersection, Prospect/Taft Hill Intersection, and the
Prospect, Shields to Taft Hill Choices 95 capital projects is available for
transfer from existing appropriations within the Street Oversizing Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that the amount of ONE HUNDRED TEN THOUSAND DOLLARS ($110,000) in previously
appropriated, unexpended funds is hereby authorized for transfer from the Street
Oversizing Fund to the Capital Projects Fund - Choices 95 capital projects and
appropriated therein for the purpose of establishing a project contingency
related to the construction of the Prospect/Shields Intersection, Prospect/Taft
Hill Intersection, and Prospect, Shields to Taft Hill capital projects.
Introduced, considered favorably on first reading, and ordered published
this 20th day of April , A.D. 1993, and to be presented for final passage on the
4th day of May, A.D. 1993.
ttayor
ATTEST:
City Clerk
Passed and adopted on final reading this 4th day of May, A.D. 1993.
a or
ATTEST:
4 u
City Clerk