HomeMy WebLinkAbout184 - 12/18/1984 - APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT S ORDINANCE NO. 184 , 1984
OF THE COUNCIL OF THE CITY—OF FORT COLLINS
BEING AN ORDINANCE APPROPRIATING UNANTICIPATED
REVENUE IN THE FORT COLLINS DOWNTOWN DEVELOPMENT
AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE
WHEREAS, pursuant to Ordinance No. 15, 1983, the Council of the City
of Fort Collins established a special fund consisting of separate accounts
for: (1 ) operation and maintenance expenses of the Fort Collins Downtown
Development Authority; (2) tax increment funds received by the Fort Collins
Downtcwn Development Authority; and , (3 ) project funds consisting of
proceeds of bonds, loans and other forms of indebtedness; and
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 53,
1983, authorized the issuance of Tax Increment Bond Anticipation Notes
series April 1, 1983, dated April 1 , 1983, in the aggregate principal
anount of $3,100,000; and
WHEREAS, Section 2 of Ordinance No. 53 , 1983, provides that tax
increment monies will be pledged to the payment of interest on the Notes;
and
WHEREAS , interest payments totalling $201 , 500 have been made in
1984.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, that there is hereby authorized for expenditure in 1984 from the
tax increment fund the sum of TWO HUNDRED ONE THOUSAND FIVE HUNDRED DOLLARS
($201 ,500) for payment of debt service on the Bond Anticipation Notes
authorized by Council in Ordinance No. 53, 1983.
Introduced, considered favorably on first reading, and ordered pub-
lished this 4th day of December, A.D. , 1984, and to be presented for final
passage on the 18th day of December, A..D.,. , 1984.
ATTEST: Mayor
City Clerk
1984.Passed and adopted on final reading this 18th day of December, A.D. ,
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ATTEST: Mayor
City Clerk