HomeMy WebLinkAbout075 - 07/21/2015 - APPROPRIATING PRIOR YEAR RESERVES IN THE WATER FUND FOR 2015 WATER DISTRIBUTION INFRASTRUCTURE REPLA ORDINANCE NO. 075, 2015
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE WATER FUND
FOR 2015 WATER DISTRIBUTION INFRASTRUCTURE REPLACEMENT PROJECTS
WHEREAS, the budget needs for Water Distribution System infrastructure replacement
projects requested in the 2015-2016 BFO process included all known projects at that time; and
WHEREAS, the asset replacement program for infrastructure replacement citywide is
being accelerated; and
WHEREAS, the current funding shortfall in Water Distribution System infrastructure
replacement projects requested in the 2015-2016 BFO process is due to unanticipated projects
and escalating construction costs; and
WHEREAS, this ordinance appropriates $745,000 in Water Fund reserves in the Water
Distribution System Replacement project; and
WHEREAS, Article V, Section 9 of the City Charter permits the City Council to
appropriate by ordinance at any time during the fiscal year such funds for expenditure as may be
available from reserves accumulated in prior years, notwithstanding that such reserves were not
previously appropriated; and
WHEREAS, City staff have determined that the appropriations as described herein are
available and previously unappropriated in the Water Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from revenue in the Water
Fund Reserves the sum of SEVEN-HUNDRED FORTY-FIVE THOUSAND DOLLARS
($745,000) for the Water Distribution System Replacement projects.
Introduced, considered favorably on first reading, and ordered published this 7th day of
July, A.D. 2015, and to be presented for final passage on the 21 st day of July, A.D. 2015.
e94'L ayor
ATTEST:
J gENL
.o�oaP
City Clerk
1
Passed and adopted on final reading on the 21 st day of July, A.D. 2015.
Mayor
ATTEST:
OF FORT
A g Ua
Chief l5eputy City Clerk �S1Il'
O pOO
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