HomeMy WebLinkAbout076 - 06/15/1982 - AUTHORIZING A SHORT TERM LOAN FROM THE SEWER FUND AND APPROPRIATING THESE FUNDS IN THE CAPITAL PROJE ORDINANCE NO 76 , 1982
OF THE COUNCIL OF THE CITT OF FORT COLLINS
AUTHORIZING A SHORT-TERM LOAN FROM THE SEWER
FUND AND APPROPRIATING THESE FUNDS IN THE CAPITAL
PROJECTS FUND FOR THE SLUDGE DISPOSAL PROJECT
WHEREAS, an additional appropriation , s necessary to continue with the
construction of the Sludge Management Facilities, and
WHEREAS, anticipated bond proceeds will be deposited in the Capital
Projects Fund for the Sludge Management Facilities when the Sewer Revenue
bonds are issued and the proceeds received, and
WHEREAS, there are prior year reserves available , n the Sewer Fund
sufficient to provide for a loan to continue with the construction of the
Sludge Management Facilities until the Sewer Bond proceeds are received,
and
WHEREAS, Article V, Section 15, of the Charter of the City of Fort
Collins permits the Council to appropriate revenue at any time during the
year in which such revenue is received
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager be, and he hereby is, authorized and directed
to provide for a short-term loan and that this short-term loan totalling
ONE MILLION SEVEN HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($1,775,000) be
appropriated in the Capital Projects Fund for the Sludge Management Facil-
ities
Introduced, considered favorably on first reading, and ordered pub-
lished this 3st day of June, A D 1982, and to be presented for final
passage on the 1-5th day of—June, A D 982
Assistant P y r
ATTEST
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City C 1 e
Passed and adopted on final reading this 15th day of June, A D 1982
Mayor
ATTEST
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City Clerk