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HomeMy WebLinkAbout070 - 05/20/1997 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING AND T ORDINANCE NO. 70, 1997 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND WHEREAS, in 1996 the City received lodging taxes of$34,526 in excess of the original estimate for 1996 lodging tax receipts; and WHEREAS,the excess lodging tax receipts have not been appropriated in the 1997 budget; and WHEREAS,the City wishes to appropriate all funds allocated for cultural development and programming and tourism programming; and WHEREAS, in accordance with Ordinance No. 127, 1989, lodging tax revenue is to be allocated as follows: 75% for the promotion of convention and visitor activities, and 25% for cultural development and programming activities; and WHEREAS, the previously unappropriated 1996 lodging tax receipts allocated to cultural development and programming total $8,632; and WHEREAS, the previously unappropriated lodging tax receipts allocated to tourism programming total $6,473; and WHEREAS, in addition, the Cultural Development and Programming Account had appropriated funds from 1996 in the amount of$10,999 that were not expended in 1996; and WHEREAS, at the end of 1996, all of the above lodging tax funds lapsed into the General Fund Reserves for lodging taxes; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins permits the City Council to appropriate by ordinance at 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. 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 prior year reserves in the General Fund the total sum of NINETEEN THOUSAND SIX HUNDRED THIRTY ONE DOLLARS ($19,631) for cultural development and programming. Section 2. That,there is hereby appropriated for expenditure from prior year reserves in the General Fund the total sum of SIX THOUSAND FOUR HUNDRED SEVENTY-THREE DOLLARS ($6,473) for tourism programming. Introduced, considered favorably on first reading, and ordered d this 6th day of May A.D. 1997, and to be presented for final passage on the 20th day D. 1997 Mayor ATTEST: 4,L City Clerk Passed and adopted on final reading this 20th day of May, 199 Mayor n AT, T: ity C ..