HomeMy WebLinkAbout197 - 01/06/1998 - APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL PROJECTS FUND AND AUTHORIZING THE TRANSFER OF APPRO ORDINANCE NO. 197, 1997
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE CAPITAL PROJECTS FUND
AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN CAPITAL
PROJECTS FOR THE PURPOSE OF PROVIDING ADDITIONAL FUNDS FOR
THE CHOICES 95 TIMBERLINE EXTENSION CAPITAL PROJECT
WHEREAS, in 1984, the electors of the City of Fort Collins approved the passage of
Ordinance No. 30, 1984,which imposed a 1/4 Cent Sales and Use Tax for the purpose of generating
revenue for certain specified capital projects, for the period July 1, 1984 through June 30, 1989,
including the acquisition of right-of-way for the extension of Timberline Road from Prospect to
Summit View(the "Timberline Project" or the "Project'); and
WHEREAS, from 1985 through 1987, Seven Hundred Seventy-Nine Thousand Dollars
($779,000)was appropriated by the Fort Collins City Council (the"Council") for the acquisition of
such right-of-way; and
WHEREAS, on March 7, 1989,the electors of the City of Fort Collins approved the passage
of Ordinance No. 9, 1989, extending the 1/4 Cent Sales and Use Tax imposed by Ordinance No. 30,
1984, for the period January 1, 1989 through December 31, 1997, for the purpose of generating
revenue to fund various projects as described in the"City of Fort Collins Choices 95 Executive Final
Report", dated October 7, 1988, including the Timberline Project; and
WHEREAS,from 1989 through the present,Six Million Eight Hundred Forty-Four Thousand
Nine Hundred Seventy Dollars($6,844,970)has been appropriated by the Council to be used for the
Timberline Project, resulting in a total Timberline Project budget of Seven Million Six Hundred
Twenty-Three Thousand Nine Hundred Seventy Dollars ($7,623,970); and
WHEREAS, on March 4, 1997, Council adopted Resolution 97-32, authorizing the final
design of the Timberline Project and directing the City Manager to proceed with construction
according to said design; and
WHEREAS, upon said authorization of the final design for the Timberline Project, staff
estimated a budget shortage in excess of one million dollars; and
WHEREAS, enhancements to the Project scope were added following an extensive public
participation process for the Project, contributing to the estimated budget shortfall; and
WHEREAS, Staff has been working with Kiewit Western, the general contractor for the
Project,and has been able to reduce the estimated budget shortfall for the Project through identifying
better construction methods, the use of more cost-effective materials, and reduced subcontractor
costs; and
WHEREAS,the current additional funds needed for the Timberline Project are estimated to
total Eight Hundred Ninety Thousand Dollars($890,000),including$500,000 for contingencies;and
WHEREAS, staff has identified funding sources totaling $890,000 to cover the estimated
Project shortfall,including$261,000 in project savings from completed Choices 95 projects,$61,100
from completed General City Capital projects, $103,000 from prior year reserves in the Sales and
Use Tax Fund, $122,800 from prior year reserves in the 1/4 Cent Necessary Capital Projects Fund,
and$342,100 from prior year reserves in the Choices 95 Capital Projects Fund; 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 capital project
in which the amount appropriated exceeds the amount needed to accomplish the purpose specified
in the appropriation ordinance; and
WHEREAS, it is the desire of Council to appropriate additional funds for the Timberline
Project in the amount of$890,000.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the transfer of the following unencumbered and unexpended appropriations
in the Choices 95 Capital Projects Fund and General City Capital Projects Fund:
Drake/College Intersection- Choices 95 $ 90,000
Drake, Canterbury to Taft Hill - Choices 95 60,000
Shields, Laurel to Prospect- Choices 95 55,900
Prospect/Shields Intersection- Choices 95 8,400
Prospect/Lemay Intersection - Choices 95 46,700
North College Bike Path- General City 46,900
Harmony Road Improvements 14.200
$322,100
to the Choices 95 Capital Project Fund, Timberline Extension- Prospect to Summit View capital
project is hereby authorized.
Section 2. That there is hereby appropriated from prior year reserves in the Sales and Use
Tax Fund the sum of ONE HUNDRED THREE THOUSAND DOLLARS ($103,000) for transfer
to the Choices 95 Capital Project Fund, Timberline Extension- Prospect to Summit View capital
project and appropriated therein.
Section 3. That there is hereby appropriated from prior year reserves in the 1/4 Cent
Necessary Capital Projects Fund the sum of ONE HUNDRED TWENTY TWO THOUSAND
EIGHT HUNDRED DOLLARS ($122,800) for transfer to the Choice 95 Capital Projects Fund,
Timberline Extension - Prospect to Summit View capital project and appropriated therein.
Section 4. That there is hereby appropriated from prior year reserves in the Choices 95
Capital Projects Fund the sum of THREE HUNDRED FORTY-TWO THOUSAND ONE
HUNDRED DOLLARS ($342,100)for transfer to the Choices 95 Capital Projects Fund,Timberline
Extension-Prospect to Summit View capital project and appropriated therein.
Introduced, considered favorably on first reading, and order" blished this 16th day of
December,A.D. 1997, and to be presented for final passage on th "y of Janu 1998.
Mayor
ATTEST: n
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City Clerk
Passed and adopted on final reading this 6th day of Janu D. 98.
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ayor
ATTEST:
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City Clerk