HomeMy WebLinkAbout040 - 03/19/2002 - APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND AUTHORIZING THE TRANSFER OF APPR ORDINANCE NO. 040, 2002
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS FROM THE STREET
OVERSIZING FUND TO THE CAPITAL PROJECTS FUND FOR THE SHIELDS STREET,
STUART STREET TO HOBBrr DRIVE, PROJECT
WHEREAS, staff has scheduled a portion of Shields Street, from Stuart Street north to the
Prospect intersection, for routine maintenance, including concrete curb and gutter repairs and
milling and re-paving of the asphalt surface as part of the City's 2002 Pavement Management
Program; and
WHEREAS, milling and re-paving of the Shields/Prospect intersection is also part of the
aforementioned improvements in order to correct rutting of the pavement in the intersection and all
approach lanes; and
WHEREAS,appropriations alreadyexist in the City's 2002 Pavement Management Program
to construct the improvements to Shields Street, north from Stuart Street to Prospect, including
improvements to the intersection at Shields Street and Prospect; and
WHEREAS, staff has been working with the developer of an undeveloped piece of property
on the east side of Shields Street, north from Stuart Street to Hobbit Drive; and
WHEREAS, the owners of the aforementioned property are actively marketing the property
for development and submittal to the Planning and Zoning Board, and the developer of the property
will be required to reimburse the City for the local street portion of the improvements associated
with the property; and
WHEREAS, it would be more cost effective to construct the improvements to Shields Street,
associated with the undeveloped property,at the same time as the improvements are to be constructed
to Shields Street as part of the City's 2002 Pavement Management Program; and
WHEREAS, improvements to Shields Street from Stuart Street north to Hobbit Drive,
associated with the undeveloped property, would include completing the curb and gutter along the
east side of Shields, construction of a pull-out bus stop with benches and shelter, sidewalks and
ramps, streetscape landscaping, and milling and re-paving of the asphalt surface course (the
"Project"); and
WHEREAS, the estimated cost of the Project is $1,194,640, and funds are available in the
form of prior year reserves in the Street Oversizing Fund; and
WHEREAS,upon completion of the bid process,the Project will begin in the spring of 2002,
with final completion and landscaping to be completed by late summer of 2002, prior to the start of
the fall 2002 semester at Colorado State University; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the "Charter")
permits the City Council to appropriate 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; and
WHEREAS, Article V, Section 10, of the Charter authorizes the City Council to transfer by
ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital
project to another fund or capital project, provided that the purpose for which the transferred funds
are to be expended remains unchanged; the purpose for which the funds were initially appropriated
no longer exists; or the proposed transfer is from a fund or capital project account in which the
amount appropriated exceeds the amount needed to accomplish the purpose specified in the
appropriation ordinance; and
WHEREAS, the purpose for which the requested appropriations in the Street Oversizing
Fund, will remain the same, upon transfer to the Capital Projects Fund- Shields Street, Stuart Street
to Hobbit Drive project; and
WHEREAS,it is the desire of the City Council to appropriate funds totaling$1,194,640 from
prior year reserves in the Street Oversizing Fund, and authorize the transfer of said appropriations
to the Capital Projects Fund, to be used to construct improvements along Shields Street, from Stuart
Street to Hobbit Drive.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the sum of ONE MILLION ONE HUNDRED NINETY-FOUR THOUSAND SIX
HUNDRED FORTY DOLLARS($1,194,640),is hereby appropriated for expenditure from prior year
reserves in the Street Oversizing Fund, authorized for transfer to the Capital Projects Fund- Shields
Street,Stuart Street to Hobbit Drive capital project, and appropriated therein, to be used to construct
improvements along Shields Street, from Stuart Street to Hobbit Drive.
Introduced and considered favorably on first reading and ordered published this 5th day of
March, A.D. 2002, and to be presented for final passage on the 19th day of March, A.D. 2002.
Mayor
ATTEST:
2
City Clerk
Passed and adopted on final reading this 19th day of March, A.D.2-002.
Mayor
ATTEST:
City Clerk