HomeMy WebLinkAbout174 - 11/04/1997 - BEING THE ANNUAL APPROPRIATION ORDINANCE APPROPRIATING OPERATING FUNDS AND APPROVING THE BUDGET OF T l
ORDINANCE NO. 174, 1997
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING THE ANNUAL APPROPRIATION ORDINANCE
APPROPRIATING OPERATING FUNDS
AND APPROVING THE BUDGET OF THE
DOWNTOWN DEVELOPMENT AUTHORITY
FOR THE FISCAL YEAR BEGINNING JANUARY 1, 1998,
AND FIXING THE MILL LEVY FOR THE
DOWNTOWN DEVELOPMENT AUTHORITY FOR FISCAL YEAR 1998
WHEREAS,the Fort Collins Downtown Development Authority has been duly organized
in accordance with Section 31-25-804, C.R.S.; and
WHEREAS, on October 2, 1997, the Board of Directors of the Downtown Development
Authority, under the provisions of Section 31-25-816, C.R.S., adopted a budget for the fiscal year
beginning January 1, 1998, and determined the mill levy necessary to provide for payment during
fiscal year 1998 of all properly authorized expenditures to be incurred by the Downtown
Development Authority; and
WHEREAS, it is the desire of the Council of the City of Fort Collins to approve said budget
of the Downtown Development Authority and to appropriate the sum of SIX HUNDRED
FOURTEEN THOUSAND EIGHT HUNDRED SEVENTEEN DOLLARS($614,817)for operation
and maintenance of the Downtown Development Authority for the fiscal year beginning January 1,
1998 and ending December 31, 1998; and
WHEREAS,the Board of the Downtown Development Authority has recommended to the
Council of the City of Fort Collins a mill levy of 4.05 mills upon each dollar of assessed valuation
of all taxable property within the Downtown Development Authority 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, 1997.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1. That the City Council has reviewed the Downtown Development Authority's
1998 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 Downtown
Development Authority for the fiscal year beginning January 1, 1998 and ending December 31, 1998,
the sum of SIX HUNDRED FOURTEEN THOUSAND EIGHT HUNDRED SEVENTEEN
• 0
DOLLARS ($614,817), to be raised by taxation and otherwise, to be expended for the authorized
purposes of the District.
Section 3. That the 1998 mill levy rate for the taxation upon each dollar of the assessed
valuation of all taxable property within the Downtown Development Authority District as of
December 31, 1997, 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 ublished this of
October,A.D. 1997, and to be presented for final passage on the of Nove r, A.D 1997.
ayor
ATTEST:
City Clerk
Passed and adopted on final reading this:ayor=:
j
ATTEST:
City Clerk