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HomeMy WebLinkAbout011 - 02/07/1984 - APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR THE PURCHASE OF P ORDINANCE NO. 11 1984 OF THE COUNCIL OF THE CITY OF FORT COLLINS BEING AN ORDINANCE APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR THE PURCHASE OF PROPERTY FOR A PUBLIC PARKING FACILITY WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 53, 1983, authorized the issuance of Tax Increment Bond Anticipation Notes in the amount of $3,100,000; and WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 156, 1983, authorized the expenditure of $800,000 from the proceeds of the Bond Anticipation Notes for the purchase of property on which to construct a public parking facility; and WHEREAS, the actual cost of the property will be $816,000; and WHEREAS, there are sufficient funds available from the proceeds of the Bond Anticipation Notes to finance the additional cost of the land; and WHEREAS, Council wishes the Downtown Development Authority to proceed with the purchase of the land. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS, that there is hereby appropriated for expenditure from unantici- pated revenue in the Downtown Development Authority Fund the sum of SIXTEEN THOUSAND DOLLARS ($16,000) to be used for the purchase of property for a public parking facility. Introduced, considered favorably on first reading, and ordered pub- lished this 17th day of January, A.D. 1984, and to be presented for final passage on the 7th day of February, A.D. 1984. Mayor ATTEST: City C I erc Passed and adopted on final reading this 7th day of February, A.D. 1984. May r ATTEST: City Clerk QS