HomeMy WebLinkAbout028 - 03/02/2004 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND COMMUNITY HORTICULTURE CENTER CAPIT ORDINANCE NO. 028, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND -
COMMUNITY HORTICULTURE CENTER CAPITAL PROJECT TO BE USED AS
REIMBURSEMENT FOR PROJECT EXPENDITURES INCURRED
WHEREAS, a community horticulture center was one of the projects approved for funding
by the voters of the City of Fort Collins, with the adoption of Ordinance No. 29, 1997 on April 8,
1997, authorizing the imposition of a quarter cent sales and use tax for the purpose of generating
revenues to construct certain capital projects described in the "Building Community Choices"
("BCC") capital improvement program; and
WHEREAS,Phase I of the aforementioned community horticulture center,now referred to
as the Gardens on Spring Creek(the"Project"),is complete,having opened in the Fall of 2003;and
WHEREAS,the City designed and constructed storm water improvements in connection with
the development of the Project which were oversized to accommodate both the historic and
developed storm water flows from the Colorado State University Research Foundation("CSURF")
property onto and across the Project property; and
WHEREAS,a cost sharing agreement was entered into by the City and CSURF,whereby the
City would finance and construct the aforementioned storm water improvements,and CSURF would
reimburse the City for oversizing the drainage channel upon the completion of Phase I of the Project;
and
WHEREAS,the City has received two checks,totaling$62,772,from CSURF representing
reimbursement to the City for design and construction of the aforementioned storm water
improvements, associated with the Project; 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 current estimate of actual and anticipated
revenues to be received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of funds from unanticipated
revenue as described herein will not cause the total amount appropriated in the Capital Projects Fund
- Community Horticulture Center capital project to exceed the current estimate of actual and
anticipated revenues to be received during any fiscal year; and
WHEREAS, it is the desire of the Council to appropriate the sum of$62,772, representing
reimbursement payments from the Colorado State University Research Foundation, in the Capital
Projects Fund - Community Horticulture Center capital project to be used as reimbursement for
project expenditures incurred.
NOW,THEREFORE, BE rr ORDAINED BY THE COUNCIL OF THE CTTY OF FORT
COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the
Capital Projects Fund - Community Horticulture Center capital project, the sum of SIXTY-TWO
THOUSAND SEVEN HUNDRED SEVENTY-TWO DOLLARS ($62,772), in the form of
reimbursement payments from the Colorado State University Research Foundation, to be used as
reimbursement for project expenditures incurred by the City.
Introduced and considered favorably on first reading and ordered published this 17th day of
February, A.D. 2004, and to be presented for final passage on the 2n ay of March, A.D. 2004.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 2nd day of March, A.D. 2004.
Mayor
ATTEST:
' .L t."
City Clerk