HomeMy WebLinkAbout007 - 02/04/1986 - AUTHORIZING ADDITIONAL DRAWS ON THE STREET OVERSIZING FEE REVENUE NOTE AND APPROPRIATING THE SAME IN ORDINANCE NO. 7, 1986
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING ADDITIONAL DRAWS ON ITS STREET
OVERSIZING FEE REVENUE NOTE AND APPROPRIATING
THE SAME IN THE STREET OVERSIZING AND THE
CAPITAL PROJECTS FUNDS
WHEREAS, Ordinance No. 197 , 1984, authorized the Street Oversizing Fee
Revenue Note (Note) in a principal amount not to exceed $2,000,000; and
WHEREAS, the City Council by Resolution activated $500,000 of the Note;
and
WHEREAS, Article V, Section 15, of the Charter of the City of Fort
Collins permits the Council to appropriate unanticipated revenue received
at any time during the year; and
WHEREAS, there is a need to increase the active authorization of the
Note.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS THAT:
1. The active authorization for draws of the Note authorized by
Ordinance No. 197, 1984, is increased from $500,000 to $1,000,000.
2. The $500,000 of Note proceeds are appropriated in the Street
Oversizing Fund.
3. $459,095 of the Street Oversizing Fund appropriation is transferred
to the Capital Projects Fund and appropriated for expenditure in
the Capital Projects Fund for the South Lemay Special Improvement
District No. 86.
Introduced, considered favorably on first reading, and ordered
published this 21st day of January, A.D. 1986, and to be presented for
final passage on the 4th day of February, A.D. 1986.
Mayor d �
ATTEST:
✓�" CJ City C
Passed and adopted on final reading this 4th day of February, A.D.
1986.
Mayor
ATTEST::
"
City Clerk