HomeMy WebLinkAbout082 - 07/05/1983 - APPROPRIATING CERTAIN FUNDS FOR THE PAYMENT OF LEGAL, FINANCIAL, AND OTHER COSTS INCURRED BY THE FOR r �
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ORDINANCE NO. 82, 1983
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING AN ORDINANCE APPROPRIATING CERTAIN FUNDS
FOR THE PAYMENT OF LEGAL, FINANCIAL, AND OTHER
COSTS INCURRED BY THE FORT COLLINS DOWNTOWN
DEVELOPMENT AUTHORITY IN CONNECTION WITH THE
ISSUANCE OF TAX INCREMENT BOND ANTICIPATION NOTES
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
associated with the issuance of said same notes; and
WHEREAS, the Fort Collins Downtown Development Authority has incurred
expenses associated with the issuance of the Bond Anticipation Notes as
follows:
Legal Fees $20,000
Financing Fees 34,100
Miscellaneous 10,900
Total $65,000
for a total of Sixty-Five Thousand Dollars ($65,000) .
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 Sixty-Five Thousand
Dollars ($65,000) to be used for legal , financial , and other expenses
incurred by the Authority in association with the issuance of the Tax
Increment Bond Anticipation Notes, Series April 1, 1983, dated April 1,
1983.
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.
Ma o
ATTEST:
City Clerk �-
Passed and adopted on final reading this 5th day of July, A.D. 1983.
May
ATTEST:
City Clerk ,
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