HomeMy WebLinkAbout141 - 09/18/2001 - APPROPRIATING PROCEEDS FROM THE LEASE FINANCING OF GOLF COURSE IMPROVEMENTS, INCLUDING THE REPLACEME ORDINANCE NO. 141, 2001
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PROCEEDS IN THE GOLF ENTERPRISE FUND FROM THE LEASE
FINANCING OF GOLF COURSE IMPROVEMENTS INCLUDING THE
REPLACEMENT OF THE COLLINDALE GOLF COURSE CLUBHOUSE
WHEREAS,the Golf Board and the Golf Division have studied the condition of the current
Collindale Golf Course clubhouse and recommend replacement of the existing 30-year old, 7,700
square foot clubhouse with a new 14,644 square foot, bi-level, modern clubhouse building on the
same site; and
WHEREAS, the existing Collindale Clubhouse building had an original life expectancy of
no more than 35 years and construction of the building was done very inexpensively with many
elements constructed minimally or substandard; and
WHEREAS,the estimated cost of replacing the Collindale Golf Course Clubhouse and other
golf course improvements is $2,830,000, with work on the clubhouse to be completed between
December 2001 and the fall of 2002; and
WHEREAS, by the adoption of Ordinance 130, 2001, the City Council has authorized the
execution and delivery of various agreements in connection with the lease financing of the above-
described improvements; and
WHEREAS,the appropriation ofthe proceeds ofthe lease financing is necessary to complete
the construction of the replacement of the Collindale Golf Course Clubhouse and other golf course
improvements, and to pay costs associated with said financing; and
WHEREAS,Article V, Section 9 of the Charter of the City of Fort Collins permits the City
Council to make supplemental appropriations by ordinance at any time during the fiscal year
provided that the total amount of such supplemental appropriations,in combination with all previous
appropriations for that fiscal year, does not exceed the current estimate of actual and anticipated
revenues to be received during the fiscal year; and
WHEREAS, it is the desire of the Council to appropriate the sum of $2,830,000 in
unanticipated revenue in the Golf Fund, representing proceeds from the lease financing described
herein,to be used for the replacement ofthe Collindale Golf Course Clubhouse and other golf course
improvements, and the payment of costs associated with said lease financing.
NOW,THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the Golf
Fund the amount of TWO MILLION EIGHT HUNDRED THIRTY THOUSAND DOLLARS
($2,830,000)upon receipt of the proceeds from the lease financing described in Ordinance No. 130,
2001, for the purpose of replacing the Collindale Golf Course Clubhouse, and other golf course
improvements, and for the costs associated with said lease financing.
Introduced, considered favorably on first reading and ordered published this 4th day of
September, A.D. 2001, and to be presented for final passage on the 18th day of September, A.D.
2001.
Mayor
ATTEST:
-j'L f
City Clerk
Passed and adopted on final reading this 18th day of September, A.D. 2001.
Mayor
ATTEST:
City Clerk