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HomeMy WebLinkAbout014 - 02/16/1993 - APPROPRIATING $7,496.70 FROM GENERAL FUND TO THE STREET OVERSIZING FUND ORDINANCE NO. 14 , 1993 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING $7,496.70 FROM THE GENERAL FUND TO THE STREET OVERSIZING FUND WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins 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, in 1985 an escrow account was established with the City in the Street Oversizing Fund in the amount of $14,900 for the eventual extension of Southridge Greens Boulevard to the south property line of Greenridge PUD; and WHEREAS, investment earnings on the escrow account have been held in the General Fund; and WHEREAS, the developer is ready to construct the extension of Southridge Greens Boulevard to the south property line south of Greenridge PUD; and WHEREAS, the City wishes to release the escrow funds and interest funds to the developer for his construction costs. 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 General Fund the total sum of SEVEN THOUSAND FOUR HUNDRED NINETY-SIX DOLLARS AND SEVENTY CENTS ($7,496.70) for transfer to the Street Oversizing Fund to be used for payment of construction costs to extend Southridge Greens Boulevard to the south property line of Greenridge PUD. Introduced, considered favorable on first reading, and ordered published this 2nd day of February, A.D. 1993, and to be presented for final passage on the 16th day of February, A.D. 1993. V -�"^ a or ATTEST: City Clerk Passed and adopted on final reading this 16th day of February, A.D. 1993. _,lA/.A�►'1 J Y ATTEST: City Clerk