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HomeMy WebLinkAbout195 - 11/20/2001 - APPROPRIATING OPERATING FUNDS AND APPROVING THE 2002 BUDGET FOR THE DDA AND FIXING THE MILL LEVY. ORDINANCE NO. 195, 2001 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING OPERATING FUNDS AND APPROVING THE BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2002, AND FIXING THE MILL LEVY FOR THE DOWNTOWN DEVELOPMENT AUTHORITY FOR FISCAL YEAR 2002 WHEREAS, the Fort Collins Downtown Development Authority (the "DDA") has been duly organized in accordance with Section 31-25-804, C.R.S.; and WHEREAS, on November 1, 2001, the Board of Directors of the DDA, under the provisions of Section 31-25-816, C.R.S., adopted a budget for the fiscal year beginning January 1, 2002, and determined the mill levy necessary to provide for payment during fiscal year 2002 of all properly authorized expenditures to be incurred by the DDA; and WHEREAS, it is the desire of the Council to approve said budget of the DDA and to appropriate the sum of FOUR HUNDRED SIXTEEN THOUSAND SEVEN HUNDRED FORTY DOLLARS ($416,740) for operation and maintenance of the DDA for the fiscal year beginning January 1, 2002 and ending December 31, 2002; and WHEREAS, the Board of the DDA has recommended to the Council a mill levy of 4.05 mills upon each dollar of assessed valuation of all taxable property within the DDA District, such levy representing the amount of taxes for DDA purposes necessary to provide for payment during the ensuing fiscal year for all properly authorized expenditures to be incurred by the DDA; and WHEREAS, Section 39-5-128(1), C.R.S., requires certification of any tax levy to the Board of County Commissioners no later than December 15, 2001. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the Council has reviewed the DDA's 2002 Recommended Budget, as adopted by the Board of Directors of the DDA, and hereby approves said budget, which is on file in the Office of the City Clerk. Section 2. That there be, and hereby is, appropriated out of the revenues of the DDA for the fiscal year beginning January 1, 2002 and ending December 31, 2002, the sum of FOUR HUNDRED SIXTEEN THOUSAND SEVEN HUNDRED FORTY DOLLARS ($416,740), to be raised by taxation and otherwise,to be expended for the authorized purposes of the DDA. Section 3. That the 2002 mill levy rate for the taxation upon each dollar of the assessed valuation of all taxable property within the DDA District as of December 31, 2001, shall be 4.05 mills, which levy represents the amount of taxes for the District purposes to provide for payment during the aforementioned budget year of all properly authorized expenditures to be incurred by the District. Said mill levy shall be certified to the County Assessor and the Board of County Commissioners of Latimer County, Colorado by the City Clerk as provided by law. Introduced, considered favorably on first reading, and ordered published this 6th day of November, A.D. 2001, and to be presented for final passage on the 20th day of November, A.D. 2001. Ma or if c_ ATTEST: a City Clerk Passed and adopted on final reading this 20th day of Novembe - A.D. 2001. Mayor — J ATTEST: City Clerk