HomeMy WebLinkAbout137 - 11/16/1993 - RELATING TO ANNUAL APPROPRIATIONS AND APPROVING THE 1994 BUDGET AND FIXING THE MILL LEVY FOR DOWNTOW ORDINANCE NO. 137, 1993 -
OF THE COUNCIL OF THE CITY OF FORT COLLINS
RELATING TO ANNUAL APPROPRIATIONS AND APPROVING THE
BUDGET OF THE DOWNTOWN DEVELOPMENT AUTHORITY FOR THE
FISCAL YEAR BEGINNING JANUARY 1, 1994, AND ENDING
DECEMBER 31, 1994, AND FIXING THE MILL LEVY FOR THE
DOWNTOWN DEVELOPMENT AUTHORITY FOR 1994
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 August 5, 1993, the Board of Directors of the Downtown
Development Authority, under the provisions of Section 31-25-816, C.R.S. , adopted
a proposed budget for the fiscal year ending December 31, 1994, totaling TWO
HUNDRED FOURTEEN THOUSAND EIGHTY-TWO DOLLARS ($214,082) , and a proposed mill levy
of 4. 14 mills to provide for payment during the ensuing budget year of all
properly authorized demands against the Downtown Development Authority; and
WHEREAS, by the adoption of Ordinance No. 120, 1993, the City Council has
previously approved appropriations, totaling FOUR HUNDRED FIFTY THOUSAND DOLLARS
($450,000) , in the Downtown Development Authority Fund for renovation of the
facades and stabilization of the Linden Hotel and Salvation Army buildings in
Downtown Fort Collins, which funds should be included in the DDA budget for 1994;
and
WHEREAS, an additional ONE THOUSAND EIGHT HUNDRED TWENTY-FOUR DOLLARS
($1,824) should also be included in the 1994 DDA budget to fund the DDA's
contribution to the Emergency Reserve required under Article X, Section 20
(Amendment #1) , of the State Constitution; and
WHEREAS, the City staff recommends that the mill levy recommended by the
Board of Directors of the Downtown Development Authority be reduced and set at
the same rate as was adopted for 1993 (4.05 mills) in order to ensure compliance
with the conditions of Article X, Section 20 (Amendment #1) , of the State
Constitution; and
WHEREAS, on November 4, 1993, the Board of Directors of the Downtown
Development Authority adopted a revised budget for the fiscal year ending
December 31 , 1994, totalling SIX HUNDRED SEVENTY-THREE THOUSAND NINE HUNDRED
THIRTY-FOUR DOLLARS ($673,934) , and a revised mill levy of 4.05 mills; and
WHEREAS, the Council desires to approve the DDA budget as provided by
statute and to levy an ad valorem tax on all real and personal property in the
Downtown Development Authority District; 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, 1993.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS:
Section 1 . That the budget for the Downtown Development Authority be, and
it hereby is, approved for the fiscal year ending December 31, 1994, as follows:
Operating Expenses
Personal Services $ 93,349
Contractual 63,686
Commodities 2,300
Capital Outlay 507,775
Other 6,824
Total 673,934
Section 2. T,,,,t there be, and hereby is, approp, iated out of the revenues
of the Downtown Development Authority for the fiscal year beginning January 1,
1994, and ending December 31, 1994, the sum of SIX HUNDRED SEVENTY-THREE THOUSAND
NINE HUNDRED THIRTY-FOUR DOLLARS ($673,934) , to be raised by taxation and
otherwise, to be expended for the authorized purposes of the District.
Section 3. That the mill levy rate for the taxation upon each dollar of
the assessed valuation of all taxable property within the Downtown Development
Authority District for the fiscal year ending December 31, 1994, 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 Larimer
County, Colorado by the City Clerk as provided by law.
Introduced, considered favorably on first reading, and ordered published
this 19th day of October, A.D. 1993, and to be presen for final pas a on the
16th day of November, A.D. 1993.
Mayor
ATTEST:
City C�
Passed and adopted on final readiy;ft'
6t of Novembe 1993.
ATTEST:
ca
City Cle