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HomeMy WebLinkAbout028 - 03/04/1980 - ESTABLISHING A CAPITAL PROJECTS FUND, SETTING FORTH THE PURPOSE AND LIMITATIONS OF SUCH FUND AND SPE ORDINANCE NO 28 1980 BEING AN ORDINANCE ESTABL—THING A CAPITAL PROJECTS FUND, SETTING FORTH THE PURPOSE AND LItilTATIONS OF SUCH FUND APD SPECIFYING THE ASSETS OF SUCH FUND BE IT OPDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS Section 1 That pursuant to Section 27 of Article V of the Charter of the City of Fort Collins, there is hereby created a fund to be known as the Capital Projects Fund Section 2 That there shall be transferred into said fund as of the effective date of this ordinance, from the funds designated below the following amounts PROJECT FUND AMOUNT Cemetary Maintenance Building Perpetual Care Fund S 19,096 Equipment Repair Facility Equipment Fund $ 1P7,400 — Street Improvements General Fund $ 489,900 Traffic Improvenents General Fund $ 143,700 Water Capital Projects Water Fund $ 892,000 Seger C3; It 1 Projects Sevier - jr $1 ,455,00r Total Transfers $3, 187,096 Section 3 That, in addition, revEnues for the Capital Projects Fund shall come from transfers from other funds, contributions in aid of con- struction, proceeds from bond sales and other sources as may be determined Section 4 That expenditures shall be made from such Fund for the purpose of designated capital projects approved by the Council If at any time, the City Council finds and determines that there are amounts of cash in such Fund in excess of the amount required to satisfy the purpose of the Fund, the Council , by Ordinance, may authorize the transfer of such excess emounts to any other Fund of the City Section 5 Moneys in the fund herein created shall be in the cr'stodv of and managed by the Director of Finance The Director of Finance shall maintain accounting records and account for all of said moneys as provided by lay Moneys in the tund shall be invested or deposited by the Director of Finance in accordance with the provisions of law All income from the assets of the fund shall become a part of the fund and shall be used for the purpose for which such fund was created, provided, however, that except as otherwise provided in this ordinance or by otner ordinances or laws or by the Charter of the City, the City Council may transfer out of the fund any amount at any time to be used for sucn put pose as the Council may direct Introduced, considered favorably on first reading, and ordered pub- lished this 19th day of February , 1950, and to be presented for final passage on the 4th day of March 1950 r ATTEST / zCClem pa«�� and adopted on f n,' read,na thl- 4th_ day of March 1960 C;yo r ATTFST em C Cler -2-