HomeMy WebLinkAbout143 - 11/01/1983 - APPROPRIATING UNANTICIPATED REVENUE IN THE DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT S ORDINANCE NO. 143 , 1983
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING AN ORDINANCE APPROPRIATING UNANTICIPATED
REVENUE IN THE FORT COLLINS DOWNTOWN DEVELOPMENT
AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE
WHEREAS, pursuant to Ordinance No. 15, 1983, the Council of the City
of Fort Collins established a special fund consisting of separate accounts
for: (1) operation and maintenance expenses of the Fort Collins Downtown
Development Authority; (2 ) tax increment funds received by the Fort
Collins Downtown Development Authority; and, (3) project funds consisting
of proceeds of bonds, loans and other forms of indebtedness; and
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 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 , Section 2 of Ordinance No. 53 , 1983 , provides that tax
increment monies will be pledged to the payment of .interest on the Notes,
and
WHEREAS, interest on the Bond Anticipation Notes is due and payable.
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
tax increment fund the sum of ONE HUNDRED THOUSAND , SEVEN HUNDRED FIFTY
DOLLARS ($100,750) for payment of debt service on the Bond Anticipation
Notes authorized by Council in Ordinance No. 53, 1983 .
Introduced, considered favorably on first reading, and ordered pub-
lished this 18th day of October, A.D. 1983, and to be presented for final
passage on the 1st day of November, A.D. 1983.
Mayor
:ATTEST
City Clerk
Passed and adopted on final reading this 1st day of November, A.D.
1983.
May
,
ATTEST:
wi
City Clerk