HomeMy WebLinkAbout206 - 11/17/1998 - APPROPRIATING OPERATING FUNDS AND APPROVING THE BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY FOR THE ORDINANCE NO. 206, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING OPERATING FUNDS
AND APPROVING THE BUDGET OF THE
DOWNTOWN DEVELOPMENT AUTHORITY
FOR THE FISCAL YEAR BEGINNING JANUARY 1, 1999,
AND FIXING THE MILL LEVY FOR THE
DOWNTOWN DEVELOPMENT AUTHORITY FOR FISCAL YEAR 1999
WHEREAS,the Fort Collins Downtown Development Authority(the"DDA")has been duly
organized in accordance with Section 31-25-804, C.R.S.: and
WHEREAS,on September 3, 1998,the Board of Directors of the DDA,under the provisions
of Section 31-25-816, C.R.S., adopted a budget for the fiscal year beginning January 1, 1999, and
determined the mill levy necessary to provide for payment during fiscal year 1999 of all properly
authorized expenditures to be incurred by the DDA; and
WHEREAS, it is the desire of the Council to approve said budget of the DDA and to
appropriate the sum of TWO HUNDRED NINETY THOUSAND SIX HUNDRED SEVENTY-
FIVE DOLLARS($290,675)for operation and maintenance of the DDA for the fiscal year beginning
January 1, 1999 and ending December 31, 1999; and
WHEREAS,the Board of the DDA has recommended to the Council a mill levy of 4.05 mills
upon each dollar of assessed valuation of all taxable property within the DDA District, such levy
representing the amount of taxes for DDA purposes necessary to provide for payment during the
ensuing fiscal year for all properly authorized expenditures to be incurred by the DDA; and
WHEREAS, Section 39-5-128(1), C.R.S.,requires certification of any tax levy to the Board
of County Commissioners no later than December 15, 1998.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council has reviewed the DDA's 1999 Recommended Budget, as
adopted by the Board of Directors of the DDA, and approves said budget, which is on file in the
Office of the City Clerk.
Section 2. That there be,and hereby is, appropriated out of the revenues of the DDA for the
fiscal year beginning January 1, 1999 and ending December 31, 1999,the sum of TWO HUNDRED
NINETY THOUSAND SIX HUNDRED SEVENTY-FIVE DOLLARS($290,675),to be raised by
taxation and otherwise, to be expended for the authorized purposes of the DDA.
Section 3. That the 1999 mill levy rate for the taxation upon each dollar of the assessed
valuation of all taxable property within the DDA District as of December 31, 1998, shall be 4.05
mills, which levy represents the amount of taxes for the District purposes to provide for payment
during the aforementioned budget year of all properly authorized expenditures to be incurred by the
District. Said mill levy shall be certified to the County Assessor and the Board of County
Commissioners of Larimer County, Colorado by the City Clerk as provided by law.
Introduced, considered favorably on first reading, and ordered published this 3rd day of
November, A.D. 1998, and to be presented for final passage on the 17th day of November, A.D.
1998.
_�5 C
Mayor 1
ATTEST:
City Clerk
Passed and adopted on final reading this 17th day of Nove ��:D. 1998.
Mayor F�
ATTEST:
City Clerk