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HomeMy WebLinkAbout126 - 10/19/1982 - CREATING A CULTURAL SERVICES AND FACILITIES FUND ORDINANCE NO 126 , 1982 OF THE COUNCIL OF THE CITY OF FORT COLLINS CREATING A CULTURAL SERVICES AND FACILITIES FUND WHEREAS, Article V, Section 27 of the Charter of the City of Fort Collins permits Council to create special funds for any purpose by ordi- nance, and WHEREAS, the purpose of creating a Cultural Services and Facilities Fund is to provide for a specific revenue source derived from future charges for cultural services and facilities of the City of Fort Collins in order to restrict expenditures of such funds for cultural services and facilities related purposes, and WHEREAS, revenues to be paid into the Cultural Services and Facilites Fund are presently pledged to the Lincoln Community Center Fund and the Performing Arts Fund thereby necessitating the repeal of the ordinances creating said funds, and WHEREAS, it is necessary to establish said Cultural Services and Facilities Fund with an effective date of January 1, 1983 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that Chapter 24 of the Code of the City of Fort Collins being an ordinance creating the Performing Arts Fund is hereby repealed in its entirety and that Chapter 20 of the Code of the City of Fort Collins being an ordinance creating the Lincoln Community Center Fund is hereby repealed and reenacted as follows 1 There is hereby created a Cultural Services and Facilites Fund pursuant to and in accordance with Article V, Section 27 of the Charter of the City of Fort Collins 2 Assets recorded in the Funds that are repealed by this ordinance shall be transferred as of the effective date of this ordinance either to the Fund herein created or to the General Fixed Assets group of account of the City of Fort Collins as appropriate under Generally Accepted Accounting Principles 3 Revenue for the Cultural Services and Facilities Fund shall be derived from user fees and receipts of the City of Fort Collins for cul- tural services and facilities related activities Revenue for the Cultural Services and Facilities Fund may also be derived from subsidy from the General Fund or from funds of any other source which may be allocated from time to time by the Council of the City of Fort Collins 4 Expenditures from the Cultural Services and Facilities Fund shall be made from revenues generated by said fund for approved purposes in connection with the regular operation of cultural services and facilities of the City of Fort Collins Such expenditures shall be made in a manner as provided by the Charter and ordinances of the City of Fort Collins 5 That the Cultural Services and Facilities Fund created herein shall be deemed to be effective as of January 1, 1983 Introduced, considered favorably on first reading and ordered pub- lished this 5th day of October, 1982 , and to be presented for final passage on the 19th day of October, 1982 Mayor ATTEST jQV i ty C 1 e v Passed and adopted on final reading this 19th day of October, 1982 Mayor - ATTEST n City Clerk -2-