HomeMy WebLinkAbout163 - 11/19/2002 - APPROPRIATING OPERATING FUNDS AND APPROVING THE BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY FOR THE ORDINANCE NO. 163, 2002
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, 2003, AND FIXING THE MILL LEVY FOR
THE DOWNTOWN DEVELOPMENT AUTHORITY FOR FISCAL YEAR 2003
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, at a special election on March 17, 1981, the registered electors of the DDA
voted to authorize the City Council to assess, levy, and collect an ad valorem tax upon the taxable
property within the DDA area not to exceed 5.00 mills for the use and benefit of the DDA; and
WHEREAS, on October 3, 2002, 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, 2003, and
determined the mill levy necessary to provide for payment during fiscal year 2003 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 $655,794 for operation and maintenance of the DDA for the fiscal year
beginning January 1, 2003, and ending December 31, 2003; and
WHEREAS,the Board of the DDA has recommended to the Council an increase in the mill
levy to 5.00 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, an increase in the mill levy is needed to fund the increase in maintenance and
security services needed in the downtown area; 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, 2002.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the City Council has reviewed the DDA's 2003 Recommended Budget, as
adopted by the Board of Directors of the DDA, and hereby approves said budget, which is on file
in the office of the City Clerk.
Section 2.That there is hereby appropriated out of the revenues of the DDA for the fiscal year
beginning January 1, 2003 and ending December 31, 2003, the sum of $655,794, to be raised by
taxation and otherwise, to be expended for the authorized purposes of the DDA.
Section 3. That the 2003 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, 2002, shall be 5.00
mills, which levy represents the amount of taxes for the DDA purposes to provide for payment
during the aforementioned budget year of all properly authorized expenditures to be incurred by the
DDA. 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 5th day of
November, A.D. 2002, and to be presented for final passage on the 19th day of November, A.D.
2002.
Mayor
ATTEST:
%�11AVA V,A A .
City Clerk
Passed and adopted on final reading this 19th day of November, A.D. 2002.
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Mayor
ATTEST:
City Clerk