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HomeMy WebLinkAbout062 - 05/06/2003 - APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND AUTHORIZING THE TRANSFER OF APPR ORDINANCE NO. 062, 2003 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS TO BE USED TO CONSTRUCT INTERIM ROADWAY IMPROVEMENTS ON COUNTY ROAD 11 AND DOUGLAS ROAD WHEREAS, the roadway system in the northeast area of Fort Collins between Douglas Road and International Boulevard consists of existing County roads that currently do not meet City standards; and WHEREAS, future development of the aforementioned area will require that the current roadway system be improved in order to comply with City standards for maintaining adequate levels of service; and WHEREAS, although current development in the area does not necessitate full roadway improvements in the area, interim roadway improvements are necessary to maintain adequate levels of service; and WHEREAS, final roadway improvements in the area, including installing curb and gutter, sidewalks, and bringing the streets up to City standards will be constructed by the City once development in the area has reached a critical level; and WHEREAS, proposed interim improvements in the area include overlaying, widening, and repairs to County Road 11 from County Road 52 to Douglas Road; and Douglas Road from County Road 11 to County Road 13; providing two travel lanes and two bicycle lanes, thus allowing new development in the area to begin construction (the "Northeast Area Overlay Project"); and WHEREAS, the estimated cost of the interim improvements is $1,129,182; and WHEREAS, staff has identified the following sources to fund improvements associated with the Northeast Area Overlay Project: Street Oversizing Fund Prior Year Reserves Contributions from Hearthfire PUD $ 430,930 Street Oversizing Fund Prior Year Reserves Contributions from Richards Lake PUD 261,975 Project Savings from the Lemay Avenue Widening Project 434,277 Total $ 1,129,182 WHEREAS, upon completion of the bid process, the Northeast Area Overlay Project is expected to begin in June 2003, with final completion scheduled to be completed by October 2003; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the "Charter") 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 and unencumbered amount or portion thereof from one fund or capital project to another fund or capital project, provided that the proposed transfer is from a fund or capital project account in which the amount appropriated exceeds the amount needed to accomplish the purposed specified in the appropriation ordinance; and WHEREAS, staff has identified project savings in the Lemay Avenue Widening project, totaling, $434,277, appropriated by City Council by adoption of Ordinance No. 011, 2003, on February 4, 2003, and the City Manager has recommended that said project savings by transferred to the Capital Projects Fund - Northeast Area Overlay Project and earmarked for expenditure therein; and WHEREAS, it is the desire of the Council to appropriate $694,905 from prior year reserves in the Street Oversizing Fund and authorize the transfer of said amount to the Capital Projects Fund - Northeast Area Overlay Project, for appropriation therein, and to authorize the transfer of existing appropriations, totaling $434,277, in the Capital Projects Fund - Lemay Avenue Widening project to the Capital Projects Fund - Northeast Area Overlay Project for expenditure therein. 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 year reserves in the Street Oversizing Fund for transfer to the Capital Projects Fund - Northeast Area Overlay Project and appropriated therein the sum of SIX HUNDRED NINETY-FOUR THOUSAND NINE HUNDRED FIVE DOLLARS ($694,905) to be used for expenditures associated with the proposed Northeast Area Overlay Project. Section 2. That the unexpended appropriated amount of FOUR HUNDRED THIRTY-FOUR THOUSAND TWO HUNDRED SEVENTY-SEVEN DOLLARS ($434,277) is hereby authorized for transfer from the Capital Projects Fund - Lemay Avenue Widening project to the Capital Projects Fund - Northeast Area Overlay Project to be used for expenditures associated with the proposed Northeast Area Overlay Project. Introduced and considered favorably on first reading and ordered published this 15th day of April, A.D. 2003, and to be presented for final passage on the 6th day of May, A.D. 2003. Mayor ATTEST: City Clerk Passed and adopted on final reading this 6th day of May, A.D. ;W3. Ell!26 -W- Mayor ATTEST: City Clerk