HomeMy WebLinkAbout145 - 12/05/1995 - APPROPRIATING PRIOR YEAR RESERVES FOR THE PURPOSE OF MAKING REFUNDS TO PUBLIC SERVICE COMPANY AND CU ORDINANCE NO. 145, 1995
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES
FOR THE PURPOSE OF MAKING REFUNDS TO
PUBLIC SERVICE COMPANY OF COLORADO AND
CUSTOMERS OF THE CITY OF FORT COLLINS UTILITY SYSTEM
WHEREAS, the Public Utilities Commission has ordered that Public Service Company of
Colorado return to its customers certain overcharges,amounting to$81 million throughout its service
area, made during the period of October 1993 and June 1995; and
WHEREAS, Public Service Company of Colorado collected approximately$48,206 of City
of Fort Collins sales tax on the overcharges to customers within the City of Fort Collins during 1993
and 1994; and
WHEREAS,Public Service Company of Colorado has requested that the City of Fort Collins
refund the sales tax to it so that credits in like amounts can be passed along to its customers; and
WHEREAS,the City of Fort Collins collected$12,871 of revenues in 1994 in excess of the
amounts allowed by Section 20 of Article X of the Colorado Constitution; and
WHEREAS, the City of Fort Collins has developed a method to refund the excess revenue
to customers of the City's utility system; and
WHEREAS, the total amount of $61,077 needed to fund the refund to Public Service
Company and the City of Fort Collins utility customers is available in the General Fund prior year
contingencies reserve; and
WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins authorizes the
City Council to provide by ordinance for the payment of any expense from reserves accumulated in
prior years notwithstanding that such reserves were not appropriated for expenditure in the annual
appropriation ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from the General Fund prior year reserve
for contingencies the sum of SIXTY ONE SEVENTY SEVEN DOLLARS ($61,077)to fund refunds
to Public Service Company of Colorado and to provide for refunds to customers of the City of Fort
Collins utility system in fulfillment of requirements of Section 20 of Article X of the state
Constitution in 1995.
Introduced and considered favorably on first reading and ordered published this 21st day of
November,A.D.- 1995,and-to be presented for final passage-on the 5 y of Decemb
1995.
l
ayor
ATTEST:
I" :S"
City Clerk
Passed and adopted on final reading this 5th day ece er, A.D. 1
Mayor /
ATTEST: C�
City Clerk