HomeMy WebLinkAbout090 - 07/19/1983 - APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR THE PREPARATION O ORDINANCE NO. 90 1983
OF THE COUNCIL OF THE—MY OF FORT COLLINS
BEING AN ORDINANCE APPROPRIATING UNANTICIPATED REVENUE
IN THE FORT COLLINS DOWNTOWN DEVELOPMENT AUTHORITY FUND
FOR THE PREPARATION OF ARCHITECTURAL AND ENGINEERING DESIGNS
FOR A DOWNTOWN PARKING GARAGE AND FOR LEGAL, APPRAISAL,
ADMINISTRATIVE, AND OTHER COSTS ASSOCIATED
WITH THE DEVELOPMENT
WHEREAS, the Council of the City of Fort Collins, in Ordinance 53,
1983, authorized the issuance of Tax Increment Bond Anticipation Notes
series April 1, 1983, dated April 1, 1983, in the aggregate principal
amount of' $3,100,000; and
WHEREAS, in Section 1 of Ordinance No. 53, 1983, "project" is defined
to include the conducting of investigations and studies including archi-
tectural and engineering services; and
WHEREAS, in Section 2 of Ordinance No. 53, 1983 , the City shall
use these funds to pay for the costs of such projects as listed in exhibit
A, and the costs associated with such projects incurred by the Downtown _
Development Authority and the City; and
WHEREAS, Exhibit A of Ordinance No. 53 , 1983 lists development
studies, including architectural and engineering services ; purchase
of land for parking ; and legal and financial services as legitimate
projects for which proceeds from the $3,100;000 Bond Anticipation Notes may
be spent; and
WHEREAS, City Council in Resolution 83-100 approved the location of a
parking structure and..i,n Resolution 83-120 approved the parking structure
project; and
WHEREAS, The Fort Collins Downtown Development Authority has reviewed
a scope of work for the design and development of a downtown parking
garage.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, that there is hereby appropriated for expenditure in 1983 from the
proceeds of the $3,100,000 Bond Anticipation Notes the sum of ONE HUNDRED
SIXTY-ONE THOUSAND FIVE HUNDRED DOLLARS ($161 ,500) for the preparation of
architectural and engineering designs for a downtown parking garage and for
legal , appraisal , administrative, and other costs associated with the
development.
Introduced, considered favorably on first reading, and ordered
published this 5th day of July, A.D. 1983, and to be presented for final
passage on the 19th day of July, A.D. 1983.
Ma
ATTEST:
City Clerk
1983.Passed and adopted on final reading this 19th day of July, A. D.
ATTEST: ASSISTANT mayor
City Clerk
-2-