HomeMy WebLinkAbout143 - 11/21/1989 - APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND AUTHORIZING THE TRANSFER OF APPR ORDINANCE NO. 143 , 1989
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
STREET OVERSIZING FUND AND AUTHORIZING THE
TRANSFER OF APPROPRIATED AMOUNTS TO
THE DEBT SERVICE FUND
WHEREAS, Article V, Section 15, of the Charter of the City of Fort
Collins authorizes the City Council to provide by ordinance for payment of
any expense from prior year reserves at any time such reserves are
available; and
WHEREAS, Article V, Section 15 of the Charter also authorizes the
City Council to transfer by ordinance any unexpended appropriated amounts
or portion thereof from one fund to another upon the recommendation of the
City Manager, provided that the purpose for the initial expenditure of said
funds no longer exists; and
WHEREAS, the City incurred expenditures in paying off Lemay/Harmony
SID #78, Phase II Street Oversizing Revenue Note in September 1989; and
WHEREAS, prior year reserves exist in the Street Oversizing Fund and
are sufficient to cover said expenditures.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, as follows:
Section 1. That there is hereby appropriated from prior year reserves
in the Street Oversizing Fund the sum of THREE HUNDRED THIRTY-FIVE THOUSAND
THIRTY-TWO DOLLARS ($335,032) for transfer to the Debt Service Fund.
Section 2. That the sum of THREE HUNDRED THIRTY-FIVE THOUSAND
THIRTY-TWO DOLLARS ($335,032) is authorized for transfer from the Street
Oversizing Fund to the Debt Service Fund and appropriated therein for
principal and interest payments on SID #78, Phase II Street Oversizing
Revenue Note.
Introduced, considered favorably on first reading, and ordered
published this 7th day of November, A.D. 1989, and to be presented for
final passage on the 21st day of November, A.D. 1989.
Mayor
ATTEST:
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City Clerk ' p
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Passed and adopted on final reading this 21st day of November, A.D.
1989.
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Mayor
ATTEST:
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City Clerk