HomeMy WebLinkAbout011 - 02/17/1998 - APPROPRIATING PRIOR YEAR RESERVES IN THE LIGHT AND POWER FUND FOR CAPITAL ADDITIONS TO THE HARMONY S ORDINANCE NO. 11, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
LIGHT AND POWER FUND FOR CAPITAL
ADDITIONS TO THE HARMONY SUBSTATION
WHEREAS, capital additions to the Harmony Substation were included in the 1998 Light
and Power Fund to accommodate normal load growth for this area; and
WHEREAS, new load additions are now anticipated in the southeast part of Light and
Power's service area which necessitate the purchase of an additional substation transformer; and
WHEREAS, the estimated cost associated with the construction of the substation
transformer and associated modifications is $1,400,000; and
WHEREAS, a major duct bank and circuits from Harmony Substation east along the
southern right-of-way of Harmony Road has also been requested to serve a customer's load
additions and to meet special service requirements; and
WHEREAS, the estimated cost associated with the construction of the duct bank and
circuits is $1,300,000; and
WHEREAS, there are adequate prior year reserves in the Light and Power Fund to cover
the total appropriation of$2,700,000; 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 that there is hereby appropriated for expenditure from the Light and Power Fund
Reserves the sum of TWO MILLION SEVEN HUNDRED THOUSAND DOLLARS
($2,700,000) for the purchase and installation of Harmony Substation equipment and electric duct
bank along East Harmony Road.
Introduced, considered favorably on first reading, and Ordered published this 3rd day of
February, A.D. 1998, and to be presented for final passage on the 17th day of-Fe-br�ary, A.D.
1998.
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ATTEST:
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City Clerk
Passed and adopted on final reading this 17th day of Fabruary, A.D. 1999-
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Mayor ( '
ATTEST:
City Clerk