HomeMy WebLinkAbout149 - 11/18/2003 - APPROPRIATING OPERATING FUNDS AND APPROVING THE BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY FOR TH ORDINANCE NO. 149, 2003
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, 2004,
AND FIXING THE MILL LEVY FOR THE
DOWNTOWN DEVELOPMENT AUTHORITY FOR FISCAL YEAR 2004
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 October 2,2003,the Board of Directors of the DDA("DDA Board"),acting
under the provisions of Section 31-25-816, C.R.S., adopted a budget for the fiscal year beginning
January 1, 2004, and determined the mill levy necessary to provide for payment during fiscal year
2004 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 MILLION THREE HUNDRED SEVEN THOUSAND FOUR
HUNDRED AND SEVENTY-DOLLARS($2,307,470)for operation and maintenance of the DDA
for the fiscal year beginning January 1, 2004 and ending December 31, 2004; and
WHEREAS,the DDA Board 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, 2003.
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 2004 Recommended Budget, as
adopted by the DDA Board, 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 1,2004 and ending December 31,2004,the sum of TWO MLLLJON THREE
HUNDRED SEVEN THOUSAND FOUR HUNDRED AND SEVENTY-DOLLARS($2,307,470),
to be raised by taxation and otherwise, to be expended for the authorized purposes of the DDA.
Section 3. That the 2004 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, 2003, 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 4th day of
November, A.D. 2003, and to be presented for final passage on the 18th day of November, A.D.
2003.
s
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 18th day of November, A.D. 2003.
57
Mayor
ATTEST:
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City Clerk