HomeMy WebLinkAbout175 - 12/20/1994 - APPROPRIATING EXCESS REVENUE IN THE STREET OVERSIZING FUND ORDINANCE NO. 175, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING EXCESS REVENUE IN THE
STREET OVERSIZING FUND
WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins
(the "Charter") authorizes the City Council , after expiration of eight (8) months
of the budget year, to appropriate by ordinance any actual revenue realized in
excess of budget estimates to any purpose recommended by the City Manager for
expenditure during the budget year; and
WHEREAS, development in the City during the first eleven (11) months of the
year have exceeded all growth estimates; and
WHEREAS, this growth in development has resulted in both increased revenues
from street oversizing fees and an increased demand for street oversizing
projects; and
WHEREAS, staff anticipates needing additional appropriations totalling
$400,000 in order meet the need for street oversizing reimbursements in 1994
which will result from several large street construction projects currently in
progress; and
WHEREAS, actual revenue received from street oversizing fees thus far in
1994 has already surpassed that which was estimated in the 1994 budget by over
Four Hundred Thousand Dollars ($400,000) ; and
WHEREAS, the Interim City Manager recommends that this excess revenue be
used for street oversizing reimbursements.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that there is hereby appropriated from revenue received in the Street Oversizing
Fund, in excess of that which was originally estimated in the 1994 budget, Four
Hundred Thousand Dollars ($400,000) to be used for costs associated with the
Street Oversizing program.
Introduced, considered favorable on first reading, and ordered published
this 6th day of December, A.D. 1994 and to be presen o final ag on the
20th day of December, A.D. 1994.
ayor
ATTEST:
City Clerk
Passed and adopted on final reading this 20th of cember, 1994.
or
ATTEST:
City Clerk—'