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HomeMy WebLinkAbout142 - 09/01/1998 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND AND PRIOR YEAR RESERVES IN THE SALE ORDINANCE NO. 142, 1998 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND AND PRIOR YEAR RESERVES IN THE SALES AND USE TAX FUND AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN FUNDS TO BE USED FOR THE DESIGN AND CONSTRUCTION OF TEMPORARY PARKING LOTS WHEREAS,on April 7, 1998,City Council adopted Resolution 98-63,authorizing the City to enter into an intergovernmental agreement with Latimer County relating to the ownership, development,maintenance,operation and use of Block 31,including the design and construction of a new downtown parking structure(the"Civic Center Parking Structure"or the"Parking Structure") and a provision for the County to pay to the City one half of the total cost of development and construction of temporary parking,prior to the time when the Parking Structure is completed; and WHEREAS,existing parking on Blocks 21 (LaPorte Lot)and Block 31 will be displaced as the result of construction of the Parking Structure and the Justice Center and the County is arranging to construct on the northeast corner of Block 31; and WHEREAS,the estimated cost of constructing temporary parking lots on Blocks 22,32,and 33, containing approximately 600 parking spaces using recycled asphalt and including perimeter landscaping and lighting is $641,500; and WHEREAS, staff has identified prior year reserves in the Sales and Use Tax Fund Use Tax Carryover Reserve as a source for the City's share of the cost, totaling $320,750; and WHEREAS, the County will contribute to the City its one-half share of the cost of construction, totaling $320,750, upon completion of the temporary parking; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the"Charter") 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 conjunction 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 9,of the Charter also 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; and WHEREAS,Article V, Section 10, of the Charter authorizes the City Council to transfer by ordinance any unexpended appropriated 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, pursuant to Section 23-304 of the City Code, one percent (1%) of the funds appropriated for the construction of capital projects should be set aside in the Art in Public Places reserve account in the Cultural Services and Facilities Fund, for use in the acquisition or leasing of works of art, maintenance, repair or display of works of art, and administrative expenses related to the Art in Public Places Guidelines adopted by Council in Ordinance No. 47, 1998; and WHEREAS, it is the desire of the Council to appropriate for expenditure from prior year reserves in the Sales and Use Tax Fund, a total of$320,750 for transfer to the Capital Project Fund and from unanticipated revenue a total of$320,750, upon receipt from Larimer County to be used to construct temporary parking on lots 21, 32, and 33, and provide funding for the City's Art in Public Places program by authorizing the transfer of$6,300 from the Temporary Parking capital project to the Cultural Services and Facilities Fund. 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 years in the Sales and Use Tax Fund the sum of THREE HUNDRED TWENTY THOUSAND SEVEN HUNDRED FIFTY DOLLARS($320,750)for transfer to the Capital Projects Fund,Facilities Master Plan capital project to be used to construct temporary parking on Blocks 21, 32, and 33. Section 2. That there is hereby appropriated for expenditure from unanticipated revenue,in the form of a contribution from Larimer County,in the Capital Projects Fund,Facilities Master Plan capital project, the sum of THREE HUNDRED TWENTY THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($320,750) upon receipt thereof, to be used to construct temporary parking lots on Blocks 21, 32, and 33. Section 3. That the unexpended appropriated amount of SIX THOUSAND THREE HUNDRED DOLLARS ($6,300) is hereby authorized for transfer from the Facilities Master Plan capital project in the Capital Projects Fund to the Art in Public Places Reserve Account in the Cultural Services and Facilities Fund,and appropriated therein,to be used for art associated with the design and construction of the temporary parking lots on Blocks 21, 32, and 33. Introduced and considered favorably on first reading and ordered published this 18th day of August, A.D. 1998, and to be presented for final passage on the 1st d of Septembe 1998. Mayor ATTEST: - yo-,kL City Clerk Passed and adopted on final reading this I st day of Sept6mber, A.D. 1998, ATTEST: City Clerk