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HomeMy WebLinkAbout049 - 04/21/1987 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND AND AUTHORIZING THE TRANSFER OF APPROPRIATED A ORDINANCE NO. 49, 1987 OF THE COUNCIL OF THE CITY OF FORT COLLINS BEING AN ORDINANCE APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND AND AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS FROM THE GENERAL FUND TO THE CAPITAL PROJECTS FUND WHEREAS, the City wishes to provide for the expenditures listed below which will improve our service to the public and provide a safe environment for our employees; and WHEREAS, Article V, Section 8, of the Charter of the City of Fort Collins authorizes the City Council to provide by ordinance for payment of any expense from prior year reserves at any time such reserves are available; and Article V, Section 15, of the Charter of the City of Fort Collins authorizes the City Council to transfer unexpended, appropriated amounts from one fund to another upon the recommendation of the City Manager, provided that the purpose for the initial expenditure of said funds no longer exists; and WHEREAS, prior year reserves exist in the General Fund and are sufficient to cover this appropriation and transfer of funds for expenditure as herein provided and to maintain required reserve balances; and WHEREAS, the City Manager has reviewed and recommended the transfer of a portion of said reserves to the Capital Projects Fund and the initial appropriation of said funds has lapsed, so that the same can no longer be expended for their original purpose. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS: Section 1. That there is hereby appropriated for expenditure from prior year reserves in the General Fund the total sum of SEVENTY-ONE THOUSAND DOLLARS ($71,000) for transfer to the Capital Projects Fund. Section 2. That SEVENTY ONE THOUSAND DOLLARS ($71,000) is hereby transferred from the General Fund to the Capital Projects Fund, and appropriated for expenditure in the Capital Projects Fund for the Asbestos Removal Project. Introduced, considered favorably on first reading, and ordered published this 17th day of March, A.D. 1987, and to be presented for final passage on the 21st day of April , A.D. 1987. Mayor ATTEST: City Clerk Passed and adopted on final reading this 21st day of April , A.D. 1987. Mayor ATTEST: City Clerk