Loading...
HomeMy WebLinkAbout143 - 11/21/1989 - APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND AND AUTHORIZING THE TRANSFER OF APPR ORDINANCE NO. 143 , 1989 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 THE DEBT SERVICE FUND WHEREAS, Article V, Section 15, of the Charter of the City of Fort Collins authorizes the City Council to provide by ordinance for payment of any expense from prior year reserves at any time such reserves are available; and WHEREAS, Article V, Section 15 of the Charter also authorizes the City Council to transfer by ordinance any unexpended appropriated amounts or portion thereof from one fund to another upon the recommendation of the City Manager, provided that the purpose for the initial expenditure of said funds no longer exists; and WHEREAS, the City incurred expenditures in paying off Lemay/Harmony SID #78, Phase II Street Oversizing Revenue Note in September 1989; and WHEREAS, prior year reserves exist in the Street Oversizing Fund and are sufficient to cover said expenditures. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS, as follows: Section 1. That there is hereby appropriated from prior year reserves in the Street Oversizing Fund the sum of THREE HUNDRED THIRTY-FIVE THOUSAND THIRTY-TWO DOLLARS ($335,032) for transfer to the Debt Service Fund. Section 2. That the sum of THREE HUNDRED THIRTY-FIVE THOUSAND THIRTY-TWO DOLLARS ($335,032) is authorized for transfer from the Street Oversizing Fund to the Debt Service Fund and appropriated therein for principal and interest payments on SID #78, Phase II Street Oversizing Revenue Note. Introduced, considered favorably on first reading, and ordered published this 7th day of November, A.D. 1989, and to be presented for final passage on the 21st day of November, A.D. 1989. Mayor ATTEST: f A, o c City Clerk ' p R Passed and adopted on final reading this 21st day of November, A.D. 1989. x �X lQs� D4 P_ r Mayor ATTEST: � Q City Clerk