HomeMy WebLinkAbout050 - 11/07/1968 - CREATING A SPECIAL CAPITAL IMPROVEMENT FUND, PROVIDING FOR TRANSFERS TO SAID FUND, THE PURPOSE THERE i
ORDINANCE No 50 , 19682
BEING AN ORDINANCE CREATING A SPECIAL CAPITAL IMPROVEMENT FUND PROVIDING FOR
TRANSFERS TO SAID FUND, THE PURPOSE THEREOF, AND MANNER OF EXPENDITURE
WHEREAS, Section 27, Article V. of the City Charter provides that special funds may
be created for any purpose by ordinance and
WHEREAS, monies are appropriated from time to time for the making of capital expendi-
tures, which monies are sometimes not expended in the year for which the appropriation is
made, requiring, at the present time under Section 10, Article V of the City Charter, for
such appropriation to lapse to the general fund and
WHEREAS, the capital expenditure for which the appropriation has been made will con-
tinue to be needed by the City of Fort Collins and provision should be made for the trans-
fer of such appropriation at the end of the budget year to an appropriate special fund and
WHEREAS, gifts may be made to the City of Fort Collins for certain specified capital
improvements
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
Section 1 Creation of Fund That there is hereby created a special capital improve-
ment fund
Section 2 Transfers to said Fund That there shall be transferred to said fund at
the end of the budget year all appropriations unexpended or unencumbered at the end of the
budget year for projects which have not been completed at said time but which, in the
opinion of the City Council, will be required to be undertaken in the future
Section 3 Additional deposits to said Fund There shall be deposited to such fund
all donations for which the donor requests certain capital improvements to be made from the
funds donated
Section 4 Investment of monies in Fund The monies in said fund shall be invested
by the Director of Finance in ggovernment bonds or bonds of the City of Fort Collins or in
such other securities as may be authorized by the City Council by resolution
Section 5 Purpose and manner of expenditures from Fund Such fund shall be expended
for the purpose of providing for the payment of capital improvements as may be provided for
in the annual budget adopted by the City Council provided, however, that appropriations
from said fund for monies donated for a specific purpose shall be appropriated for no other
purpose than specified by the donor
Introduced, considered favorably on first reading, and ordered published this 17th day
of October , A D 1968, and to be presented for final passage on the 7th day of
NovemFer , A D 1968
ATTEST Mayor
City Cleril
Passed and adopted on final reading this _nth day of Novembet , A D 1968
ATTEST May ,r
City Clerk