HomeMy WebLinkAbout090 - 07/01/2014 - APPROPRIATING UNANTICIPATED REVENUE IN THE STORMWATER FUND TO DESIGN AND CONSTRUCT THE FORT COLLINS/ ORDINANCE NO. 090, 2014
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE STORMWATER FUND TO.
DESIGN AND CONSTRUCT THE FORT COLLINS/TIMNATH BOXELDER CREEK
FLOOD MITIGATION PROJECTS
WHEREAS, in 2009 the City and the Town of Timnath entered into an
intergovernmental agreement ("IGA") regarding Growth Management Areas for the two
communities, associated issues authorizing the disposition of certain properties, and stormwater
and floodplain issues associated with Boxelder Creek and the `Boxelder Creek Overflow
Project"; and
WHEREAS, Ordinance No. 047, 2014, authorizing the Sixth Amendment to the IGA was
approved on second reading on April 1, 2014, and the Sixth Amendment has since been signed
by the parties; and
WHEREAS, the Sixth Amendment identifies the scope and locations of the Fort Collins /
Timnath Boxelder Creek Flood Mitigation Projects (the "Projects"); and
WHEREAS, the total cost of the Projects is currently estimated to be $4,000,000, which
amount Fort Collins and Timnath have agreed to share equally in order to timely complete the
Projects; and
WHEREAS, the City has an existing capital project appropriation of$250,000 which will
be applied to project costs: and
WHEREAS, the City is to receive $1,750,000 previously deposited in an escrow account
for the construction of the Projects; and
WHEREAS, the Town of Timnath is contractually obligated to contribute the remaining
50% of the total project costs, up to an amount of$2,000,000; 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 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 have determined that the appropriation of the revenue as
described herein will not cause the total amount appropriated in the Stormwater Fund to
exceed the current estimate of actual and anticipated revenues to be received in that fund during
any fiscal year; and
WHEREAS, the City Council has found that appropriating unanticipated revenue in the
Stormwater Fund for the purpose of designing and constructing the Fort Collins / Timnath
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Boxelder Creek Flood Mitigation Projects will benefit the Stormwater Utility and City
Stormwater ratepayers.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in
the Stormwater Fund the sum of THREE MILLION SEVEN HUNDRED AND FIFTY
THOUSAND DOLLARS ($3,750,000) for the Fort Collins/Timnath Boxelder Creek Flood
Mitigation Projects.
Introduced, considered favorably on first reading, and ordered published this 3rd day of
June, A.D. 2014, and to be presented for final passage on the 1 st day of July, A.D. 2014.
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Passed and adopted on final reading on the 1 st day of July, A.D. 2014.
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