HomeMy WebLinkAbout086 - 05/16/1989 - APPROPRIATING UNANTICIPATED REVENUE IN THE SALES AND USE TAX FUND AND AUTHORIZING THE TRANSFER OF AP ORDINANCE NO. 86 , 1989
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE
SALES & USE TAX FUND AND AUTHORIZING THE
TRANSFER OF APPROPRIATED AMOUNTS TO THE
CAPITAL PROJECTS AND TRANSPORTATION SERVICES FUNDS
WHEREAS, Article V, Section 15, of the Charter of the City of Fort
Collins authorizes the City Council to appropriate unanticipated revenue
received at any time during the year and to transfer unexpended,
appropriated amounts from one fund to another upon the recommendation of
the City Manager, provided that the purpose of the initial expenditure of
said funds no longer exists; and
WHEREAS, the electors of the City of Fort Collins adopted Ordinance
No. 8, 1989 on March 7, 1989, being an extension of the 1/4 cent Sales &
Use Taxfor Necessary Capital Projects; and
WHEREAS, the extension of the 1/4 cent Sales & Use Tax will provide
the City with $833,449 in additional revenue in 1989; and
WHEREAS, the maintenance and repair of city streets is a top priority
of the City Council ; and
WHEREAS, the additional funds to be received from the 1/4 cent Sales &
Use Tax will be used to supplement existing appropriations for street
maintenance and repair programs.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1 . That there is hereby appropriated from unanticipated
revenue in the Sales & Use Tax Fund the sum of EIGHT HUNDRED THIRTY THREE
THOUSAND FOUR HUNDRED FORTY NINE DOLLARS ($833,449) for transfer to the
Capital Projects and Transportation Services Funds.
Section 2. That SEVEN HUNDRED SEVENTY SIX THOUSAND SEVEN HUNDRED
SEVENTY THREE DOLLARS ($776,773) is authorized for transfer from the Sales
& Use Tax Fund to the Capital Projects Fund and appropriated therein for
the Street Overlays and Sealcoats program.
Section 3. That SIXTY SIX THOUSAND SIX HUNDRED SEVENTY SIX DOLLARS
($66,676) is authorized for transfer from the Sales & Use Tax Fund to the
Transportation Services Fund and appropriated therein to supplement
maintenance programs in the Streets Division budget.
r,
Introduced, considered favorably on first reading, and ordered
published this 2nd day of May, A.D. 1989, and to be presented for final
passage on the 16th day of May, A.D. 1989. r;
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 1 ddy of May, A.D. 1989.
Mayor
ATTEST:
City Clerk