HomeMy WebLinkAbout028 - 03/04/1980 - ESTABLISHING A CAPITAL PROJECTS FUND, SETTING FORTH THE PURPOSE AND LIMITATIONS OF SUCH FUND AND SPE ORDINANCE NO 28 1980
BEING AN ORDINANCE ESTABL—THING A CAPITAL
PROJECTS FUND, SETTING FORTH THE PURPOSE AND LItilTATIONS
OF SUCH FUND APD SPECIFYING THE ASSETS OF SUCH FUND
BE IT OPDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
Section 1 That pursuant to Section 27 of Article V of the Charter
of the City of Fort Collins, there is hereby created a fund to be known as
the Capital Projects Fund
Section 2 That there shall be transferred into said fund as of
the effective date of this ordinance, from the funds designated below the
following amounts
PROJECT FUND AMOUNT
Cemetary Maintenance Building Perpetual Care Fund S 19,096
Equipment Repair Facility Equipment Fund $ 1P7,400 —
Street Improvements General Fund $ 489,900
Traffic Improvenents General Fund $ 143,700
Water Capital Projects Water Fund $ 892,000
Seger C3; It 1 Projects Sevier - jr $1 ,455,00r
Total Transfers $3, 187,096
Section 3 That, in addition, revEnues for the Capital Projects Fund
shall come from transfers from other funds, contributions in aid of con-
struction, proceeds from bond sales and other sources as may be determined
Section 4 That expenditures shall be made from such Fund for the
purpose of designated capital projects approved by the Council If at any
time, the City Council finds and determines that there are amounts of cash
in such Fund in excess of the amount required to satisfy the purpose of the
Fund, the Council , by Ordinance, may authorize the transfer of such excess
emounts to any other Fund of the City
Section 5 Moneys in the fund herein created shall be in the cr'stodv
of and managed by the Director of Finance The Director of Finance shall
maintain accounting records and account for all of said moneys as provided
by lay Moneys in the tund shall be invested or deposited by the Director
of Finance in accordance with the provisions of law All income from the
assets of the fund shall become a part of the fund and shall be used for
the purpose for which such fund was created, provided, however, that except
as otherwise provided in this ordinance or by otner ordinances or laws or
by the Charter of the City, the City Council may transfer out of the fund
any amount at any time to be used for sucn put pose as the Council may
direct
Introduced, considered favorably on first reading, and ordered pub-
lished this 19th day of February , 1950, and to be presented for final
passage on the 4th day of March 1950
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pa«�� and adopted on f n,' read,na thl- 4th_ day of March
1960
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