HomeMy WebLinkAbout080 - 07/05/1983 - APPROPRIATING CERTAIN FUNDS FOR THE PAYMENT OF CONSTRUCTION, ADMINISTRATIVE, FEE, PERMIT, LEGAL AND ORDINANCE NO. 80 1983
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING CERTAIN FUNDS FOR THE PAYMENT OF
CONSTRUCTION, ADMINISTRATIVE, FEE, PERMIT, LEGAL
AND CONTINGENCY EXPENSES ASSOCIATED WITH THE
COUNTY PARKING LOT
WHEREAS, pursuant to Ordinance No. 53, 1983, the Council of the City
of Fort Collins authorized issuance of Tax Increment Bond Anticipation
Notes, series April 1 , 1983, dated April 1 , 1983, in the aggregate amount
of Three Million One Hundred Thousand Dollars ($3 ,100,000) ; and
WHEREAS, pursuant to Section 2 of Ordinance No. 53, 1983, the proceeds
of the Bond Anticipation Notes are authorized to be used to pay costs
incurred by the Fort Collins Downtown Development Authority in association
with projects undertaken by the Authority; and
WHEREAS, the Downtown Development Authorities Act of the State of
Cglorado, Section 31-25-809, et seq. , C.R.S. 1973, authorizes the inclusion
of construction, administrative, fee, permit, legal and contingency ex-
penses associated with projects financed with bonds; and
WHEREAS, the Fort Collins Downtown Development Authority has incurred
interest, administrative, construction, fee, permit, legal , and contingency
expenses as follows:
Interest $ 3,819.00
Construction 11,000.00
Administration 3,600.00
Fees & Permits 1,500.00
Legal 1 ,000.00
Contingencies 1.,000.00
Total $20,919.00
for a total amount of Twenty Thousand Nine Hundred Nineteen Dollars
($20,919.00) .
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, that there is hereby appropriated for expenditure by the Fort
Collins Downtown Development Authority the sum of Twenty Thousand Nine
Hundred Nineteen Dollars ($20,919.00) to be used for the payment of inter-
est and for construction, administrative, fee, permit, legal , and contin-
gency costs associated with the purchase of a parking lot in the 100 Block
of South Mason Street.
Introduced, considered favorably on first reading, and ordered pub-
lished this 21st day of June, A.D. , 1983, and to be presented for final
passage on the 5th day of July, A.D. 1983.
May
ATTEST:
%Uakkc� .
City Clerk
Passed and adopted on final reading this 5th day of July, A.D. 1983.
May
ATTEST:
City Clerk
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