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HomeMy WebLinkAbout123 - 10/01/1996 - APPROPRIATING UNANTICIPATED REVENUE AND PRIOR YEAR RESERVES FOR THE CONSTRUCTION OF FIRST SEGMENT OF ORDINANCE NO. 123, 1996 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE AND PRIOR YEAR RESERVES IN THE TRANSPORTATION SERVICES FUND FOR THE CONSTRUCTION OF THE FIRST SEGMENT OF THE HARMONY ROAD BIKEWAY PROJECT WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins (the "Charter") authorizes the City Council to appropriate unanticipated revenues which are the result of new revenue sources at any time during the year in which such revenue is received; and WHEREAS, the City Council passed Resolution 96-95, on August 20, 1996, authorizing the City to enter into an intergovernmental agreement with the Colorado State Department of Transportation (CDOT) for the receipt of federal Intermodal Surface Transportation Enhancement Act(ISTEA)funds to provide for the construction of the first segment of the Harmony Road bikeway project (the "Project"); and WHEREAS, the Projects's estimated total cost is $255,180; and WHEREAS,the CDOT has made available to the City ISTEA funds in the total amount of $210,000 for the construction of the Project; and WHEREAS, local matching funds needed for the project, totaling $45,180, have been identified and are available from the Transportation Services Fund prior year reserves; and WHEREAS, Article V, Section 7, of the Charter authorizes the City Council to provide by ordinance for payment of any expense from reserves accumulated in prior years not withstanding that such reserves were not appropriated for expenditure in the Annual Appropriation Ordinance; and WHEREAS, it is the desire of the Council to appropriate the sum of $210,000 in federal ISTEA funds and to appropriate $45,180 from the Transportation Services Fund prior year reserves in order to proceed with the Project. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That there is hereby appropriated for expenditure from unanticipated revenue in the Transportation Services Fund, the sum of TWO HUNDRED TEN THOUSAND DOLLARS ($210,000)from the Colorado Department of Transportation to be used to construct the first segment of the Harmony Road Bikeway project. Section 2. That there is hereby appropriated for expenditure from prior year reserves in the Transportation Services Fund, the sum of FORTY-FIVE THOUSAND ONE HUNDRED EIGHTY DOLLARS ($45,180) to be used to construct the first segment of the Harmony Road Bikeway project. Introduced, considered favorably on first reading, and ordered published this 17th day of September, A.D. 1996, and to be presented for final passage on the 1 st day of October, A.D. 1996. J ATTEST: City Clerk Passed and adopted on final reading this 1 st day of Octobe / . 1996. Mayor i ATTEST: City Clerk