HomeMy WebLinkAbout124 - 08/19/1997 - APPROPRIATING UNANTICIPATED REVENUE AND PRIOR YEAR RESERVES FOR CONSTRUCTING IMPROVEMENTS ON SOUTH S ORDINANCE NO. 124, 1997
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND
AND PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN FUNDS FOR THE
PURPOSE OF CONSTRUCTING IMPROVEMENTS ON SOUTH SHIELDS STREET
BETWEEN HORSETOOTH ROAD AND WEST TROUTMAN PARKWAY
WHEREAS, arterial street improvements are planned for South Shields Street between
Horsetooth Road and West Troutman Parkway (the "Project"); and
WHEREAS, Project improvements include planted medians, curb, gutter, detached
sidewalks, bikelanes, and intersection improvements on South Shields at Troutman Parkway and
Wabash Street; and
WHEREAS,the Project will be constructed through a public-private partnership involving
developments along South Shields Street and the City; and
WHEREAS, the estimated cost of the Project is $1,770,000, with $111,381 representing
development's share of the improvements and the remaining $1,658,619 representing the City's
share; and
WHEREAS, staff is recommending that construction of the Project begin in fall of 1997, in
an effort to minimize construction impacts to traffic on Shields Street, and to avoid delays on other
street improvement projects scheduled for the southwest portion of the City, beginning in the spring
of 1998; and
WHEREAS, the following funding sources have been identified to fund the proposed
improvements, to be constructed in 1997:
Unanticipated Revenue from Developer's Contributions
in the Capital Projects Fund $ 111,381
Street Oversizing Fund Existing Appropriations 800,000
Street Oversizing Fund Prior Year Reserves 858,619
Total $ 1,770,000
WHEREAS, $543,925 to be used for widening Shields Street from Horsetooth Road to
Troutman Parkway was approved by voters as part of the 1/4 cent sales and use tax for Building
Community Choices associated with Streets and Transportation projects; and
WHEREAS,the aforementioned amount($543,925), representing a portion of the proceeds
from the aforementioned sales and use tax will be appropriated in 1998 to reimburse the Street
Oversizing Fund; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the "Charter")
permits the City Council to appropriate by ordinance an any time during the fiscal year such funds
for expenditure as may be available from reserves accumulated in prior years, notwithstanding that
such reserves were not previously appropriated; and
WHEREAS, Article V, Section 9, of the Charter also permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year, provided that the total
amount of such supplemental appropriations,in combination with all previous appropriations for that
fiscal year, do not exceed the then current estimate of actual and anticipated revenues to be received
during the fiscal year; and
WHEREAS,Article V, Section 10, of the Charter authorizes the City Council to transfer by
ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital
project to another fund or capital project, provided that the purpose for which the transferred funds
are to be expended remains unchanged; and
WHEREAS, it is the desire of the Council to appropriate unanticipated revenue in the sum
of$111,381 in the Capital Projects Fund, from developer's contributions, and to appropriate prior
year reserves, totaling $858,619, in the Street Oversizing Fund, and authorize the transfer of the
$858,619 along with$800,000 in existing appropriations in the Street Oversizing Fund to the Capital
Projects Fund,all to be used to construct improvements on Shields Street from Horsetooth Road to
Troutman Parkway.
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 Capital Projects Fund, Shields Street Widening project,the sum of ONE HUNDRED ELEVEN
THOUSAND THREE HUNDRED EIGHTY-ONE DOLLARS ($111,381),representing developers
contributions, to be used for improvements to Shields Street from Horsetooth Road to Troutman
Parkway.
Section 2. That there is hereby appropriated for expenditure from prior year reserves in the
Street Oversizing Fund the sum of EIGHT HUNDRED FIFTY-EIGHT THOUSAND SIX
HUNDRED NINETEEN DOLLARS ($858,619)and authorized for transfer to the Capital Projects
Fund, Shields Street Widening project, and appropriated therein to be used for improvements to
Shields Street from Horsetooth Road to Troutman Parkway.
Section 3. That unexpended appropriated amount of EIGHT HUNDRED THOUSAND
DOLLARS ($800,000) is hereby authorized for transfer from the Street Oversizing Fund to the
Capital Projects Fund, Shields Street Widening project, and appropriated therein to be used for
improvements to Shields Street from Horsetooth to Troutman Parkway.
Introduced and considered favorably on first reading and ordered published this 5th day of
August, A.D. 1997, and to be presented for final passage on the 19th day of August, A.D. 1997.
Mayor Pro Tern
ATTEST:
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City Clerk QS
Passed and adopted on final reading this 19th day of August, A.D. 1997.
Mayor
ATTEST:
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City Clerk