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HomeMy WebLinkAbout024 - 03/24/2009 - APPROPRIATING UNANTICIPATED GRANT REVENUE IN THE LIGHT AND POWER FUND FOR THE RESIDENTIAL SOLAR REBA ORDINANCE NO. 024, 2009 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED GRANT REVENUE IN THE LIGHT AND POWER FUND FOR THE RESIDENTIAL SOLAR REBATE PROGRAM AND AUTHORIZING THE TRANSFER OF MATCHING FUNDS PREVIOUSLY APPROPRIATED IN THE LIGHT AND POWER OPERATING BUDGET WHEREAS, the City's Residential Solar Rebate Program (Photovoltaic) Program (the "Program") offers residential electric customers of the Fort Collins Utility financial incentives to install photovoltaic systems on their homes; and WHEREAS, City staff, having successfully implemented the pilot phase of the Program, requested a grant to continue the Program; and WHEREAS, the State of Colorado's Governor's Energy Office("GEO") awarded the City a grant in the amount of$25,000 (the "Grant") to continue the Program; and WHEREAS, the Grant requires matching funds of$25,000, which are available in existing appropriations in the Light and Power budget and available for transfer to the Light and Power grant projects; and WHEREAS, Article V, Section 9, of the City Charter permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year, provided that the total amount of such supplemental appropriations,in combination with all previous appropriations for that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, City staff has determined that the appropriation of the Grant will not cause the total amount appropriated in the Light and Power Fund to exceed the current estimate of actual and anticipated revenues to be received in that fund during any fiscal year; and WHEREAS,Article V,Section 10,of the City Charter authorizes the City Council to transfer by ordinance any unexpected and unencumbered amount or portion thereof from one project to another project,provided that the purpose for which the transferred funds are to be expended remains unchanged. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That there is hereby appropriated from unanticipated grant revenue in the Light and Power Fund the sum of TWENTY FIVE THOUSAND DOLLARS ($25,000) for expenditure in the Light and Power Fund for the Residential Solar Rebate Program(Photovoltaic). Section 2. That unexpended appropriated amount of TWENTY FIVE THOUSAND DOLLARS ($25,000) is hereby authorized for transfer to the Light and Power Fund projects grant for expenditure in the Residential Solar Rebate Program (Photovoltaic). Introduced, considered favorably on first reading, and ordered published this 3rd day of March, A.D. 2009, and to be presented for final passage on the day of March, A.D. 2009. May ATTEST: 0 J City Clerk Passed and adopted on final reading on the 24th day of N4aych, A.D. 2009. Mayo ATTEST: -City Clerk