HomeMy WebLinkAbout113 - 11/17/1992 - APPROPRIATING REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE FOR 199 ORDINANCE NO. 113, 1992
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING REVENUE IN THE
DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR
PAYMENT OF DEBT SERVICE FOR THE YEAR 1993
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 95,
1987, authorized the issuance of Tax Increment Refunded Bonds, Series 1987, dated
May 15, 1988, in the aggregate principal amount of THIRTEEN MILLION FIVE HUNDRED
FORTY-FIVE THOUSAND DOLLARS ($13,545,000) ; and
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 36,
1992, authorized the issuance of Tax Increment Revenue and Refunding Bonds, in
order to invoke an early call provision on the City's 1988 Downtown Development
Authority Tax Increment Revenue Refunding and Improvement Bonds, in the aggregate
principal amount of ELEVEN MILLION THREE HUNDRED EIGHTY THOUSAND DOLLARS
($11 ,380,000) ; and
WHEREAS, interest on the bonds is due and payable annually.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that there is hereby appropriated for expenditure from the Downtown Development
Authority Debt Service Fund the sum of SEVEN HUNDRED THIRTY-ONE THOUSAND SEVEN
HUNDRED NINETY-EIGHT DOLLARS ($731,798) for payment of debt service in 1993 on
the bonds authorized by Council in Ordinance No. 36, 1992.
Introduced, considered favorably on first reading, and ordered published
this 20th day of October, A.D. 1992, and to be presented for final passage on the
17th day of November, A.D. 1992.
LAMM
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ayor
ATTEST:
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City Cle
v / Passed and adopted on final reading this 17th day of November, A.D. 1992.
Mayor
ATTEST:
City Cie