HomeMy WebLinkAbout071 - 04/18/1989 - APPROPRIATING UNANTICIPATED REVENUE IN THE WATER FUND (FOR THE CONSTRUCTION OF IMPROVEMENTS TO THE E ORDINANCE NO. 71, 1989
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE WATER FUND
WHEREAS, Article V, Section 15, of the Charter of the City of Fort
Collins permits the Council to appropriate unanticipated revenue at any
time during the year in which such revenue is received; and
WHEREAS, Ordinance No. 70, 1989 authorizes the issuance of City of
Fort Collins General Obligation Water Bonds, Series 1989, Dated May 1,
1989, in the aggregate principal amount of $11,715,000; and
WHEREAS, issuance of these bonds will provide the Water and Wastewater
Utility with $11,500,000 in bond proceeds; and
WHEREAS, the 1989 Budget included an expected bond issuance of
$5,000,000, leaving $6,715,000 still to be appropriated.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated the sum of SIX MILLION SEVEN
HUNDRED FIFTEEN THOUSAND DOLLARS ($6,715,000) from bond proceeds, for
expenditure in the Water Fund for the construction of improvements to the
existing water system, the acquisition of 7,400 acre feet of water rights,
and bond issuance costs.
Introduced, considered favorably on first reading, and ordered
published this 4th day of April , A.D. 1989, aid to be presented for final
passage on the 18th day of April , A.,D: 989. GG
Mayor
TT EST:
City Clerk
Passed and adopted on final r�eadinq this 1 day of Amril , A.D. 1989.
Mayor
ATTEST:
City Clerk