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HomeMy WebLinkAbout063 - 05/03/1994 - APPROPRIATING UNANTICIPATED REVENUE IN GENERAL FUND ORDINANCE NO. 63, 1994 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins permits the City Council to appropriate by ordinance unanticipated revenue which is the result of rate or fee increases or new revenue sources at any time during the year in which such revenue is received; and WHEREAS, the City has received a payment from the Fort Collins Housing Authority (the "Authority") of $18,633.85 as a payment in lieu of taxes for 1993 ("PILOT") ; and WHEREAS, pursuant to Resolution 92-93 of the Council of the City of Fort Collins, the Authority is required to make PILOT's to the City; and WHEREAS, the Authority has requested that the 1993 PILOT payment be appropriated for expenditure by the Authority to fund affordable housing related activities to attend to the housing needs of low-income Fort Collins residents; and WHEREAS, said payment of $18,633.85 was not projected as a revenue source in the 1994 budget of the City; and WHEREAS, 'the City Council has determined that the provision of af'fordabTe housing serves an important public purpose and is an appropriate use of these City funds. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated from unanticipated revenue in the General Fund the sum of Eighteen Thousand Six Hundred Thirty-Three Dollars and 85 Cents ($18,633.85) to be returned to the Authority to fund affordable housing related activities of Fort Collins residents consistent with the Department Housing and Urban Development guidelines. Introduced, considered favorably on first reading, and ordered published this 19th day of April , A.D. 1994, and to be presentel for final passage on the 3rd day of May, A.D. 1994. r' or ATTEST: n CityClerk o lE' Passed and adapted on final reading this 3rd d May, A - r ATTEST: City Clerk