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HomeMy WebLinkAbout028 - 03/19/1985 - APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR THE OAK PARK RESI ORDINANCE NO. 28 , 1985 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR THE OAK PARK RESIDENTIAL PROJECT 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, the Downtown Development Authority has issued bonds in the amount of $8.2 million ; and WHEREAS, the Authority will be receiving $320,000 from the sale of land; and WHEREAS , the Authority wishes to assist in bringing residential housing to the downtown area. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from unantici - pated revenue in the Downtown Development Authority Fund the sum of THREE HUNDRED SEVENTY THOUSAND DOLLARS ($370,000) for the downpayment, improve- ments , issuance fees , and first year debt service on the Oak Park Residen- tial Project. Introduced, considered favorably on first reading and ordered pub- lished this 19th day of February, A.D. 1985, and to be presented for final passage on the 19th day of March , A.D. 1985. Mayor ATTEST: City Clerk 1985.Passed and adopted on final reading this 19th day of March, A.D. Mayor ATTEST: City Clerk