HomeMy WebLinkAbout148 - 11/06/1979 - ESTABLISHING A TRANSFORT FUND, SETTING FORTH THE PURPOSE, SOURCE OF REVENUE, AND MANNER OF EXPENDITU M
ORDINANCE NO. 148, 1979
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ESTABLISHING A TRANSFORT FUND, SETTING FORTH
THE .PURPOSE, SOURCE OF REVENUE, AND fiANNER OF
EXPENDITURE FRO[-,! SAID FUND
BE IT ORDAINED 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 Transfort Fund.
Section 2. The purpose of said fund shall be to provide for, Transfort
operations.
Section 3. Revenues for the fund shall be derived from Transfort
fees and a subsidy from the General Fund of ,the City of Fort Collins.
Section 4. Expenditures from the fund shall be made for approved
purposes in connection with lawful Transfort operations.
Section 5. Monies in the fund herein created shall be in the custody
of and managed by the Director of Finance. The Director of Finance shall
maintain accounting records and account for all of said monies as provided
by law. Monies in the fund 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 other ordinances or laws or
by the Charter of the City, the City Council raay transfer out of the fund
any amount at any time to be used for such purposes as the Council may
direct.
Introduced, considered favorably on first reading, and ordered pub-
lished this l6th day of October 1979, and to be. presented for final
passage on the 6th day of November 1979-
h ayo r '
AT - T:
Cif Clerk
Passed and adopted on final reading this 6th day of November -
1979.
M ay
T T:
City Clerk
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