HomeMy WebLinkAbout075 - 06/07/1988 - APPROPRIATING PRIOR YEAR RESERVES IN THE STORM DRAINAGE FUND ORDINANCE NO. 75, 1988
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING AN ORDINANCE APPROPRIATING PRIOR YEAR RESERVES
IN THE STORM DRAINAGE FUND
WHEREAS, Article V, Section 8 of the Charter of the City of Fort
Collins permits the Council to appropriate prior year reserves at any time
such reserves are available; and
WHEREAS, the 1978 Consolidated Special Improvement District Bonds for
District #72 will mature July 1, 1988; and
WHEREAS, this district had multiple funding sources including bonds,
Seven-Year Capital , General Fund via Capital Projects and Contributions
from private sources and in-kind services from Federal Aid to Urban
Systems; and
WHEREAS, monies due from Storm Drainage (Seven Year Capital , per
Ordinance No. 92, 1980) were not received by the district; and
WHEREAS, funds remaining from the Seven Year Capital make up the
reserves in the Storm Drainage Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from prior year
reserves in the Storm Drainage Fund the total sum of ONE HUNDRED TWENTY-ONE
THOUSAND TWO HUNDRED EIGHTY-TWO DOLLARS ($121,282) to be transferred to
Special Improvement District #72 to pay the share of district costs that
were designated to come from Seven-Year Capital .
Introduced, considered favorably on first reading, and ordered
published this 17th day of May, A.D. 1988, an to be presented for final
passage on the 7th day of June, A.D. 198:8
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ATTEST: Mayor
2
City Clerk
Passed and adopted on final reading this 7th/day of June, A.D. 1988.
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TEST:
City Clerk