HomeMy WebLinkAbout112 - 11/17/1992 - ANNUAL APPROPRIATIONS AND APPROVING THE BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY AND FIXING THE ORDINANCE NO. 112, 1992
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING THE ANNUAL APPROPRIATION ORDINANCE
RELATING TO THE ANNUAL APPROPRIATIONS
AND APPROVING THE BUDGET OF THE
DOWNTOWN DEVELOPMENT AUTHORITY FOR THE
FISCAL YEAR BEGINNING JANUARY 1, 1993, AND
ENDING DECEMBER 31, 1993, AND
FIXING THE MILL LEVY FOR THE
DOWNTOWN DEVELOPMENT AUTHORITY
WHEREAS, the Fort Collins Downtown Development Authority has been duly
organized in accordance with Section 31-25-804, C.R.S. ; and
WHEREAS, on October 1, 1992, the Board of Directors of the Downtown
Development Authority, under the provisions of Section 31-25-816, C.R.S. , adopted
a budget for the fiscal year ending December 31, 1993, and determined the mill
levy necessary to provide for payment during the ensuing budget year of all
pr(; rly authorized demands against the Downtown Development Authority; and
WHEREAS, it is the desire of the Council of the City of Fort Collins to
approve said budget of the Downtown Development Authority and to appropriate the
sum of TWO HUNDRED FIVE THOUSAND FOUR HUNDRED SIXTEEN DOLLARS ($205,416) for
Operations and Maintenance of the Downtown Development Authority; and
WHEREAS, the Board of the Downtown Development Authority has recommended
to the Council of the City of Fort Collins adoption of a mill levy of 4.4 mills
upon each dollar of assessed valuation of all taxable property in the Downtown
Development Authority District; and
WHEREAS, the City of Fort Collins recommends that the mill levy set by the
Board of Directors of the Downtown Development Authority be reduced and set at
the same rate as was adopted for 1992 (4.05 mills) in order to ensure compliance
with the conditions of Amendment #1 (TABOR) approved by the voters at the
November 3, 1992 General Election; and
WHEREAS, the Council desires to impose and levy an ad valorem tax on all
real and personal property in the Downtown Development Authority District as
revised for the reduced mill levy as recommended by the City; and
WHEREAS, Section 39-5-128(1) , C.R.S. , requires certification of any tax
levy to the Board of County Commissioners no later than December 15, 1992.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS:
Section 1 . That the budget for the Downtown Development Authority be, and
it hereby is, approved for the fiscal year ending December 31, 1993, as follows:
Operating Expenses
Personal Services $ 89,860
Contractual 99,756
Commodities 3,800
Capital Outlay 2,000
Other 10,000
Total $205,416
Section 2. That there be, and hereby is, appropriated out of the revenues
of the Downtown Development Authority for the fiscal year beginning January 1 ,
1993 and ending December 31 1993, the sum of TWO HUNDRED FIVE THOUSAND FOUR
HUNDRED SIXTEEN DOLLARS ($205,416) , to be raised by taxation and otherwise, to
be expended for the authorized purposes of the District.
Section 3. That the mill levy rate for the taxation upon each dollar of
the assessed valuation of all the taxable property within the Downtown
Development Authority District for the fiscal year ending December 31 , 1993,
shall be 4.05 mills, which levy represents the amount of taxes for the District
purposes to provide for payment during the aforementioned budget year of all
properly authorized expenditures to be incurred by the District. Said mill levy
shall be certified to the County Assessor and the Board of County Commissioners
of Larimer County, Colorado by the City Clerk as provided by law.
Introduced, considered favorably on first reading, and ordered published
this 20Lh day of October, A.D. 1992, and to be presented for final passage on the
17th day of November, A.D. 1992.
Mayor
ATTEST:
City Cl e
Passed and adopted on final reading this 17th day of November, A.D. 1992.
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Mayor
ATTEST:
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