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HomeMy WebLinkAbout136 - 10/17/1989 - APPROPRIATING REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE FOR THE ORDINANCE NO. 136, 1989 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE FOR THE YEAR 1990 WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 95, 1987, authorized the issuance of Tax Increment Refunded Bonds, Series 1987, dated May 15, 1988, in the aggregate principal amount of THIRTEEN MILLION FIVE HUNDRED FORTY-FIVE THOUSAND DOLLARS ($13,545,000) ; and WHEREAS, interest on the bonds is due and payable. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby authorized for expenditure from the Downtown Development Authority Debt Service Fund the sum of ONE MILLION ONE HUNDRED FIFTY-NINE THOUSAND ONE HUNDRED TWENTY-EIGHT DOLLARS ($1, 159,128) for payment of debt service in 1990 on the bonds authorized by Council in Ordinance No. 95, 1987. Introduced, considered favorably on first reading, and ordered published this 3rd day of October, A.D. 1989, and to be presented for final passage on the 17th day of October, A.D. 1989:-� Mayor AA TE City Clerk Passed and adopted on final reading this 17th day of October, A.D. 1989. Mayor A i ST: i City Clerk