HomeMy WebLinkAbout149 - 11/05/2002 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND FOR PROPERTY DONATED BY THE ESTATE OF ROBERT ORDINANCE NO. 149, 2002
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND
FOR PROPERTY DONATED BY THE ESTATE OF ROBERT H. UDALL
WHEREAS, pursuant to Resolution 2001-95 the City Council accepted a donation of
20.133 acres of land with related improvements from the Estate of Robert H.Udall for natural area
purposes (the "Property"); and
WHEREAS,the value of the donated Property had not been determined when the donation
was accepted, but has now been appraised with the 20.133 acres of land valued at $300,000 and
the three buildings on the property valued at $150,000; and
WHEREAS, in addition to the Property, the Estate of Robert H. Udall donated to the City
funds in the amount of$125,000, to be held in a perpetual trust, the income of which should be
used solely for the maintenance and repair of the Property; and
WHEREAS,in 2002 the City will receive approximately$2,300 in interest earnings on the
$125,000 cash donation which is needed for maintenance and repair expenditures for the Property;
and
WHEREAS,Article V,Section 9,of the Charter of the City of Fort Collins 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 combination with all
previous appropriations for that fiscal year,does not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of the interest earnings and
donated Property, as described herein,will not cause the total amount appropriated in the General
Fund to exceed the current estimate of actual and anticipated revenues to be received in that fund
during the fiscal year.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. There is hereby appropriated from unanticipated revenue in the General
Fund the sum of TWO THOUSAND THREE HUNDRED DOLLARS ($2,300) for expenditure
in the General Fund for maintenance and repairs to the donated Property.
Section 2. There is hereby appropriated from unanticipated revenue in the General
Fund the sum of FOUR HUNDRED AND FIFTY THOUSAND DOLLARS ($450,000) for
expenditure in the General Fund for the purpose of recording the donated Property asset.
Introduced, considered favorably on first reading, and ordered published this 15th day of
October,A.D.2002,and to be presented for final passage on the 5th day of November,A.D. 2002.
, X
Mayor _
ATTEST:
City Clerk
Passed and adopted on final reading this 5th day of November, A.D. 2002.
Mayor
ATTEST:
City Clerk