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HomeMy WebLinkAbout076 - 06/15/1982 - AUTHORIZING A SHORT TERM LOAN FROM THE SEWER FUND AND APPROPRIATING THESE FUNDS IN THE CAPITAL PROJE ORDINANCE NO 76 , 1982 OF THE COUNCIL OF THE CITT OF FORT COLLINS AUTHORIZING A SHORT-TERM LOAN FROM THE SEWER FUND AND APPROPRIATING THESE FUNDS IN THE CAPITAL PROJECTS FUND FOR THE SLUDGE DISPOSAL PROJECT WHEREAS, an additional appropriation , s necessary to continue with the construction of the Sludge Management Facilities, and WHEREAS, anticipated bond proceeds will be deposited in the Capital Projects Fund for the Sludge Management Facilities when the Sewer Revenue bonds are issued and the proceeds received, and WHEREAS, there are prior year reserves available , n the Sewer Fund sufficient to provide for a loan to continue with the construction of the Sludge Management Facilities until the Sewer Bond proceeds are received, and WHEREAS, Article V, Section 15, of the Charter of the City of Fort Collins permits the Council to appropriate revenue at any time during the year in which such revenue is received NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the City Manager be, and he hereby is, authorized and directed to provide for a short-term loan and that this short-term loan totalling ONE MILLION SEVEN HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($1,775,000) be appropriated in the Capital Projects Fund for the Sludge Management Facil- ities Introduced, considered favorably on first reading, and ordered pub- lished this 3st day of June, A D 1982, and to be presented for final passage on the 1-5th day of—June, A D 982 Assistant P y r ATTEST M 6& � �a I� City C 1 e Passed and adopted on final reading this 15th day of June, A D 1982 Mayor ATTEST %Wlk�� -It cl City Clerk