HomeMy WebLinkAbout116 - 09/19/2000 - APPROPRIATING PRIOR YEAR RESERVES IN THE LIGHT AND POWER FUND TO RELOCATE AND UPGRADE THE CAPACITY O ORDINANCE NO. 116, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
LIGHT AND POWER FUND TO RELOCATE AND UPGRADE
THE CAPACITY OF THE ELECTRIC SUBSTATION ON
OVERLAND TRAIL ROAD
WHEREAS,the relocation of the Overland Trail Substation(Overland at Mulberry)to Platte
River Power Authority's Dixon Creek substation site at Overland Trail and Drake was requested by
Platte River in order to save $600,000 per year in transmission wheeling costs; and
WHEREAS, Platte River Power Authority will reimburse the City for the portion of the
project related to the relocation and will also contribute to on-site construction needed for relocation;
and
WHEREAS,the reimbursement from Platte River Power Authority related to the relocation
of the substation is estimated to be $1,000,000; and
WHEREAS,in conjunction with the relocation,the Utilities will accelerate an expansion of
the substation originally planned for 2004 in order to provide additional system capacity; and
WHEREAS, the total cost of the two-year project is estimated to be $3,772,350; and
WHEREAS,in 2000,$2,424,000 is needed to purchase transformers,switch gear,and begin
ground work for the substation and the remaining$1,348,350 to finish the project has been requested
in the 2001 budget exception process as an amendment to the adopted 2001 budget; and
WHEREAS,there are adequate prior year reserves in the Light and Power Fund to cover the
total appropriation of$2,424,000; 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; and
WHEREAS, it is the desire of the Council to appropriate the sum of$2,424,000 from prior
year reserves in the Light and Power Fund to be used in the relocation and upgrade of the electric
substation on Overland Trail Road.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the sum of TWO MILLION FOUR HUNDRED AND TWENTY-FOUR
THOUSAND DOLLARS ($2,424,000) is hereby appropriated for expenditure from prior year
reserves in the Light and Power Fund for the costs associated in the relocation and upgrade of
capacity of the Electric Substation on Overland Trail Road.
Introduced and considered favorable on first reading and ordered published this 5th day of
September, A.D. 2000, and to be presented for final passage on the 19th day of September, A.D.
2000.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 19th day of September, A.D. 2000.
Mayor Prn Tem.
ATTEST:
. 4UL & . X.".
City Clerk