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HomeMy WebLinkAbout124 - 11/02/1993 - APPROPRIATING PRIOR YEAR RESERVES IN THE WASTEWATER UTILITY FUND ORDINANCE NO. 124, 1993 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES IN THE WASTEWATER UTILITY FUND WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins authorizes the City Council to provide by ordinance for payment of any expense from reserves accumulated in prior years, notwithstanding that such reserves were not appropriated for expenditure in the annual appropriation ordinance; and WHEREAS, the Wastewater Utility Fund has reserves for the purpose of capital expenditures; and WHEREAS, in 1990, the City Council authorized the purchase of 18,130 acres of deeded land known as the Meadows Springs Ranch for the purpose of a sludge management program; and WHEREAS, the State Land Board wishes to sell approximately 7,550 acres of land which lies in checkerboard parcels within the boundaries of the Meadow Springs Ranch; and WHEREAS, the Wastewater Utility wishes to consolidate the Meadow Springs Ranch to simplify development of public access and provide for a more efficient operation; and WHEREAS, the State Land Board will accept payment of SEVEN HUNDRED FIFTY- FIVE THOUSAND DOLLARS ($755,000) for approximately SEVEN THOUSAND FIVE HUNDRED AND FIFTY (7,550) acres. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS, that there is hereby appropriated for expenditure from prior year capital reserves, the sum of SEVEN HUNDRED AND FIFTY-FIVE THOUSAND DOLLARS ($755,000.00) for the purpose of purchasing approximately SEVEN THOUSAND FIVE HUNDRED AND FIFTY (7,550) acres of land from the State Land Board that lies within the boundaries of the Meadow Springs Ranch. Introduced, considered favorably on first reading, and ordered published this 19th day of October, A.D. 1993, and to be presented for f' 1 passage on the 2nd day of November, A.D. , 1993. ayor ` P.T I EST: City Clerk Pas>ed and adopted on final reading this 2nd day of love A.D. ayor ` ATTEST: 14 City Clerk