HomeMy WebLinkAbout084 - 07/16/1991 - AUTHORIZING $50,000 IN FUNDING FOR ELECTRIC ENERGY-RELATED LOANS THROUGH THE ZERO INTEREST LOANS FOR ORDINANCE NO. 84 , 1991
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING $50,000 IN FUNDING FOR ELECTRIC ENERGY-RELATED
LOANS THROUGH THE ZERO INTEREST LOANS FOR CONSERVATION HELP
(ZILCH) PROGRAM, USING FUNDS FROM LIGHT AND POWER'S 1991
CONTINGENCY APPROPRIATION AND APPROPRIATING THE ORIGINAL
$50,000 OF ZILCH REVENUE SHARING MONIES FOR THE PURPOSE
OF MAKING AIR QUALITY-RELATED ZERO INTEREST LOANS
WHEREAS, the Council of the City of Fort Collins has determined that it
is in the best interests of the citizens of the City to encourage energy
conservation and air quality improvement practices; and
WHEREAS, the Council has determined that using City monies to fund zero
interest loan programs for energy conservation and air quality improvement
purposes is in the best interests of the citizens of the City and serves a valid
and valuable public purpose of direct benefit to the City; and
WHEREAS, under Article V, Section 15 of the City Charter, the City Manager
may transfer any unused budgeted amount or portion thereof from one budget
category to any other budget category within the same fund; and
WHEREAS, Article XII, Section 6 of the Charter provides in part:
All net operating revenues of the city's utilities shall be held
within the respective utility's fund and may be expended only for
renewals, replacements, extraordinary repairs, extensions,
improvements, enlargements and betterments to such utility, or other
specific utility purpose determined by the Council to be beneficial
to the ratepayers of said utilities; and
WHEREAS, the use of Light and Power's 1991 contingency appropriation to
fund electric energy-related ZILCH loans is beneficial to Light and Power
ratepayers; and
WHEREAS, Article V, Section 8 of the Charter authorizes the City Council
to provide by ordinance for the payment of any expense from reserves accumulated
in prior years, notwithstanding that such reserves were not appropriated for
expenditures in the annual appropriation ordinance; and
WHEREAS, ZILCH loan funds originally provided from federal revenue sharing
monies should be administered from the general fund for the purpose of making
air quality-related ZILCH loans.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1 . That up to Fifty Thousand Dollars ($50,000.00) from Light and
Power's 1991 contingency appropriation may be used to fund electric energy-
related zero interest loans.
1
Section 2. That Fifty Thousand Dollars ($50,000.00) of federal revenue
sharing monies in the Light and Power reserve account is hereby appropriated for
transfer into the General Fund and that the unloaned portion of said monies in
the amount of Thirty Thousand Nine Hundred Sixty-three and 90/100 Dollars
($30,963.90) is hereby appropriated from the General Fund for the purpose of
making air quality-related zero interest loans.
Introduced, considered favorably on first reading, and ordered published
this 2nd day of July, A.D. 1991, and to be presented for final passage on the
16th day of July, A.D. 1991 .
Mayor -
ATTEST:
City Clerk
Passed and adopted on final reading this 16th day of July, A.D. 1991 ,
Mayor
ATTEST:
nn
City Clerk VS
2