HomeMy WebLinkAbout125 - 10/20/2015 - APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL PROJECT FUND FOR THE BUILDING ON BASICS INTERSECTIO ORDINANCE NO. 125, 2015
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL PROJECT FUND
FOR THE BUILDING ON BASICS INTERSECTION IMPROVEMENTS
AND THE STREET OVERSIZING FUND INTO THE CAPITAL PROJECTS FUND
FOR THE TIMBERLINE ROAD - DRAKE ROAD TO PROSPECT ROAD
IMPROVEMENT PROJECT AND THE CULTURAL SERVICES AND FACILITIES
FUND FOR THE ART IN PUBLIC PLACES PROGRAM
WHEREAS, in 2011, the Engineering Department completed an Arterial Intersection
Priority Study which classified the Timberline and Prospect intersection as a top priority for
needed safety and operational improvements; and
WHEREAS, in 2013, the budget for the project was established as part of the Building on
Basics(BOB) Intersection Improvements Project; and
WHEREAS, the project will be constructed in 2016; and
WHEREAS, between conceptual planning in 2013 and construction in 2016, construction
prices will have risen between 30% to 50%; and
WHEREAS, due to escalating construction costs, additional funds in the amount of
$1,300,000 from available prior year reserves BOB taxes in the Capital Projects Fund and
$200,000 of available prior year reserves in the Street Oversizing Fund have been identified by
City staff to be used for the project; and
WHEREAS, one percent of the appropriation for the construction project, ($13,000) must
be transferred to the Cultural Services.and Facilities Fund for a contribution to the Art in Public
Places (APP) program, with $10,140 reserved for the APP artwork project and $2,860 reserved
for the maintenance of the artwork and operations of the APP program; and
WHEREAS, Article V, Section 9, of the City Charter 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, City staff has determined that the appropriation of the revenue as described
herein will not cause the total amount appropriated in the Capital Projects Fund or the Street
Oversizing Fund to exceed the current estimate of actual and anticipated revenues during fiscal
year 2015.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
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Section 1. That there is hereby appropriated from prior year reserves in the Capital
Projects Fund the sum of ONE MILLION THREE HUNDRED THOUSAND DOLLARS
($1,300,000) for expenditure in the Capital Projects Fund for the Timberline and Prospect BOB
Intersection Improvements Project.
Section 2. That there is hereby appropriated from prior year reserves in the Street
Oversizing Fund the sum of TWO HUNDRED THOUSAND DOLLARS ($200,000) and is
authorized for transfer to and expenditure in the Capital Projects Fund for the Timberline and
Prospect BOB Intersection Improvements Project.
Section 3. That the unexpended appropriated amount of TEN THOUSAND ONE
HUNDRED FORTY DOLLARS ($10,140) in the Capital Projects Fund for the Timberline and
Prospect BOB Intersection Improvements Project is authorized for transfer to the Cultural
Services and Facilities Fund and appropriated therein for the Art in Public Places Art Project.
Section 4. That the unexpended appropriated amount of TWO THOUSAND EIGHT
HUNDRED SIXTY DOLLARS ($2,860) in the Capital Projects Fund for the Timberline and
Prospect BOB Intersection Improvements Project is authorized for transfer to the Cultural
Services and Facilities Fund and appropriated therein for the Art in Public Places Program
Maintenance and Operations.
Introduced, considered favorably on first reading, and ordered published this 6th day of
October, A.D. 2015 and to be presented for final passage on the 20th day of October, A.D. 2015.
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ayor
ATTEST: :o
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City Clerk
Passed and adopted on final reading on the 20th day of October, A.D. 2015.
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ATTEST:
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City Clerk
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