HomeMy WebLinkAbout052 - 05/04/1999 - APPROPRIATING PRIOR YEAR RESERVES IN THE WATER FUND FOR THE PURCHASE OF WATER RIGHTS AND WATER STORA ORDINANCE NO. 52, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
WATER FUND FOR THE PURCHASE OF WATER RIGHTS AND
WATER STORAGE CAPACITY
WHEREAS, City staff has been negotiating for the possible acquisition of land, several
gravel pits, and water rights along the Poudre River between Shields Street and Overland Trail;and
WHEREAS, the gravel pits could be developed into some local storage ponds to help
regulate the City's raw water supplies; and
WHEREAS, the estimated cost of the acquisition to the Water Fund is $637,000 and funds
are available in the form of prior year reserves in the Water Fund for the acquisition of water rights
and storage capacity; and
WHEREAS,upon purchase of the land, gravel pits, and water rights,and completion of the
existing mining operation,the City would develop the site to provide storage and increase capacity
to more fully utilize the City's water rights; and
WHEREAS,Article V, Section 9,of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as
may be available from reserves accumulated in prior years,notwithstanding that such reserves were
not previously appropriated.
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 Water Fund the sum of
SIX HUNDRED THIRTY-SEVEN THOUSAND DOLLARS ($637,000) to be used for the
acquisition of water rights and water storage capacity.
Introduced and considered favorably on first reading and ordered published this 20th day of
April, A.D. 1999, and to be presented for final passage on the 4th day of May, A.D. 1999.
Mayor
rATTEST:
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City Clerk
Passed and adopted on final reading this 4th day of May, A.D. 1999.
Mayor
ATTEST:
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City Clerk