HomeMy WebLinkAbout104 - 07/06/1999 - RATIFYING APPROPRIATIONS OF BOND PROCEEDS IN THE WASTEWATER FUND ORDINANCE NO. 104, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
RATIFYING APPROPRIATIONS OF BOND PROCEEDS
IN THE WASTEWATER FUND
WHEREAS, Section 19.3(b) of Article V of the City Charter provides that an enterprise of
the City may issue its own revenue bonds or other obligations on behalf of the City; and
WHEREAS, on June 5, 1995, the board of the City of Fort Collins, Colorado, Wastewater
Utility Enterprise (the "Board") adopted on second reading Ordinance No. 1 of the Board; and
WHEREAS, Ordinance No. 1 authorized the issuance of City of Fort Collins, Colorado,
Wastewater Utility Enterprise, Sewer Revenue Refunding Bonds, Series 1995, dated June 1, 1995,
in the aggregate principal amount of$13,585,000 (the "1995 Bonds"); and
WHEREAS, Ordinance No. 1 by its terms appropriated the proceeds of the 1995 Bonds for
uses appropriate to the purposes of the 1995 Bonds; and
WHEREAS,the 1995 Bonds were issued,and the proceeds of the 1995 Bonds managed and
used in a manner consistent with the terms of Ordinance No. 1; and
WHEREAS, on September 17, 1996, the Board adopted on second reading Ordinance No.
2 of the Board; and
WHEREAS, Ordinance No. 2 authorized the issuance of City of Fort Collins, Colorado,
Wastewater Utility Enterprise, Sewer Revenue Refunding Bonds, Series 1996, dated September 1,
1996, in the aggregate principal amount of$13,800,000 (the "1996 Bonds"); and
WHEREAS, Ordinance No. 2 by its terms appropriated the proceeds of the 1996 Bonds for
uses appropriate to the purposes of the 1996 Bonds; and
WHEREAS,the 1996 Bonds were issued,and the proceeds of the 1996 Bonds managed and
used in a manner consistent with the terms of Ordinance No. 2; and
WHEREAS, Section 193(b) of Article V of the City Charter further provides that an
enterprise board of the City shall not exercise powers reserved to the Council by the City Charter
or otherwise (other than the power to issue revenue bonds and other obligations); and
WHEREAS, under Section 9, Article V of the City Charter,the City Council is authorized
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,for the foregoing reasons,the Council wishes to ratify,by the adoption of this
Ordinance,the appropriation of the proceeds of the 1995 Bonds and the 1996 Bonds, as previously
set forth in Ordinance No. 1 and Ordinance No. 2, and any and all encumbrances and expenditures
made thereafter in reliance on Ordinance No. 1 and Ordinance No. 2.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the Council hereby ratifies, mine pro tunc, the appropriation of the proceeds of the
1995 Bonds and the 1996A Bonds as previously set forth in Ordinance No. 1 and Ordinance No. 2,
and any and all encumbrances and expenditures made thereafter in reliance on Ordinance No. l and
Ordinance No. 2.
Introduced, considered favorably on first reading, and ordered published this 15th day of
June, A.D. 1999, and to be presented for final passage on the 6th day of July,A.D. 1999.
Mayor
ATTEST:
City Clerk ,
Passed and adopted on final reading this 6th day of July, A.D. 1994.
Mavor
ATTEST:
4UL, V�(ft L'(1- i
City Clerk