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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 jni´┐Ż 0 ayor ATTEST: fi n' City Cle v / Passed and adopted on final reading this 17th day of November, A.D. 1992. Mayor ATTEST: City Cie