HomeMy WebLinkAbout044 - 05/03/2011 - APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSPORTATION SERVICES FUND FOR THE CIVIC CENTER PARKING S ORDINANCE NO. 044, 2011
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSPORTATION
SERVICES FUND FOR THE CIVIC CENTER PARKING STRUCTURE
WHEREAS,the Civic Center Parking Structure is jointly owned by Larimer County and the
City and the parties have entered into a Parking Structure License Agreement ("the Agreement");
and
WHEREAS,the Agreement provides that the City shall be responsible for the operation and
maintenance of the Parking Structure; and
WHEREAS, under the Agreement, the City and County share equally the costs associated
with the operation, maintenance and repair of the Parking Structure; and
WHEREAS, the Agreement also specifies that a financial reserve will be maintained to be
used for major projects, maintenance and repair, and equipment purchases; and
WHEREAS, since the Parking Structure was first opened, a reserve has been maintained in
the Transportation Services Fund; and
WHEREAS, there are three major repair and maintenance needs that have been identified
for the Parking Structure:
Painting of interior walls and ceilings $96,553
Replace the deck seal 83,940
Purchase pressure washing equipment 110,000
Total $290,493;
and
WHEREAS, the reserve is sufficient to fund the necessary repairs and equipment; and
WHEREAS,Article V,Section 9 of the City Charter permits the City Council to appropriate
by ordinance at any time during the fiscal year such funds for expenditure as may be available from
reserves accumulated in prior years, notwithstanding that such reserves were not previously
appropriated.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from prior year reserves in the
Transportation Services Fund the sum of TWO HUNDRED NINETY THOUSAND FOUR
HUNDRED NINETY-THREE DOLLARS($290,493)for maintenance and equipment expenses at
the Civic Center Parking Structure.
Introduced, considered favorably on first reading, and ordered published this 19th day of
April, A.D. 2011, and to be presented for final passage on the 3rd day of May, A.D. 2011.
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Passed and adopted on final reading on the 3rd day of May, A.D. 2011.
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