HomeMy WebLinkAbout127 - 10/19/1982 - CREATING A TRANSPORTATION FUND ORDINANCE NO 128 , 1982
OF THE COUNCIL OF THE CITY OF FORT COLLINS
CREATING A TRANSPORTATION FUND
WHEREAS, Article V, Section 27 of the Charter of the City of Fort
Collins permits Council to create special funds for any purpose by ordi-
nance, and
WHEREAS, the purpose of creating a Transportation Services Fund is to
provide a specific revenue source from which expenditures which relate to
transportation services are to be paid, and
WHEREAS, revenues to be paid into the Transportation Services Fund are
presently pledged to the Parking Fund and Transfort Fund thereby neces-
sitating the repeal of the ordinance creating said funds, and
WHEREAS, it is necessary to establish said Transportation Services
Fund with an effective date of January 1, 1983
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that Ordinance No 84, 1980, being an ordinance establishing a
Parking Fund is hereby repealed in its entirety and Chapter 29 A of the
Code of the City of Fort Collins is repealed and reenacted as follows
1 There is hereby created a Transportation Services Fund pursuant to
and in accordance with Article V, Section 27 of the Charter of the City of
Fort Collins
2 Assets recorded in the Funds that are repealed by this ordinance
shall be transferred as of the effective date of this ordinance either to
the Fund herein created or to the General Fixed Assets group of account of
the City of Fort Collins as appropriate under Generally Accepted Accounting
Principles
3 Revenue for the Transportation Services Fund shall be derived
from revenue generated by the transportation services of the City of Fort
Collins, including but not limited to tax receipts of the City of Fort
Collins which are generated as a result of transportation services, inter-
governmental transfers to the City of Fort Collins for the purposes of
transportation services and charged by the City of Fort Collins for trans-
portation services Revenue for the Transportation Services Fund may also
be derived from a subsidy from the General Fund or funds of any other
source which may be allocated from time to time by the Council of the City
of Fort Collins
4 Expenditures from the Transportation Services Fund shall be made
from revenues generated by said fund for approved purposes in connection
with transportation services of the City of Fort Collins Such expendi-
tures shall be made in a manner as provided by the Charter and ordinances
of the City of Fort Collins
. l _
5 The Transportation Services Fund created herein shall be deemed to
be effective as of January 1, 1983
Introduced, considered favorably on first reading and ordered pub-
lished this 5th day of October, 1982 , and to be presented for final
passage on the 19th day of October, 1982
C�Um I
Mayor
ATTEST
C i ty Clerk '-�
Passed and adopted on final reading this 19th day of October, 1982
Mayor
AToTEST
�
City Clerk
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