HomeMy WebLinkAbout083 - 07/18/1995 - APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND FOR STREET OVERSIZING REIMBURSEMENTS ORDINANCE NO. 83, 1995
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE STREET
OVERSIZING FUND FOR STREET OVERSIZING REIMBURSEMENTS
WHEREAS, Article V, Section 7 of the Charter of the City of Fort Collins (the "Charter")
authorizes the City Council to provide by ordinance for payment of any expense from reserves
accumulated in prior years notwithstanding that such reserves were not appropriated for expenditure
in the Annual Appropriation Ordinance; and
WHEREAS, the City is presently in the middle of a building cycle; and
WHEREAS,there are several large street construction projects underway which will Require
Street Oversizing reimbursements; and
WHEREAS, the estimated cost of the aforementioned reimbursements exceeds the
reimbursement appropriations approved in the Street Oversizing Fund as part of the 1995 annual
appropriation ordinance by $1,740,000; and
WHEREAS, the Street Oversizing Fund has prior year reserves, as of the end of 1994, in an
amount sufficient to meet the total cost of said reimbursements, which reserves are available as an
appropriate source of funds for the additional appropriation required; and
WHEREAS,the appropriation of additional funds from Street Oversizing prior year reserves
will not affect the Fund's ability to meet obligations to be incurred for street construction projects
in 1996; and
WHEREAS, it is the desire of the Council to appropriate the Sum of$1,740,000 from Prior
Year Reserves in the Street Oversizing Fund to 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 for expenditure from prior year reserves in the Street
Oversizing Fund-the sum ONE-MILLION-SEVEN HUNDRED FORTY THOUSAND DOLLARS-
($1,740,000) to be used for Street Oversizing reimbursements.
Introduced, considered favorably on first reading, and ordered published this a of
June, A.D., 1995, and to be presented for final passage on the 1 ay of July, ., 1995
ATTEST:
City Clerk
Prsed and adopted on final reading this 18th day of Jul 1995.
Mayor
ATTEST:
City Clerk