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HomeMy WebLinkAbout060 - 05/07/2013 - APPROPRIATING UNANTICIPATED REVENUE INTO THE LIGHT & POWER ,FUND FOR THE RENEWABLE AND DISTRIBUTED S ORDINANCE NO. 060, 2013 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE INTO THE LIGHT& POWER FUND FOR THE RENEWABLE AND DISTRIBUTED SYSTEMS INTEGRATION (RDSI) PROJECT WHEREAS,in 2008 the Citywas awarded$6,323,380 in Department of Energy(DOE)grant monies to undertake the Renewable and Distributed Systems Integration (RDSI) project in collaboration with twelve partner organizations; and WHEREAS, through this partnership, the project has provided significant grant funding to Colorado State University and Fort Collins based energy sector businesses for research and development to advance electric utility distribution technologies; and WHEREAS, over the course of the effort, the City and the DOE have worked together to modify and adjust the work program ten times in response to emergent issues and opportunities;and WHEREAS, with the most recent project modification, the DOE has increased the grant award by$372,500 to fund two additional demonstration project components within overall grant; and WHEREAS, in addition to the DOE grant funding, the City has received a $250,000 contribution from the Downtown Development Authority(DDA)and a$222,824 contribution from the Community Foundation in support of the project;and WHEREAS, this project contributes to research and development effort that will improve the ability for electric utilities to more efficiently manage the electric distribution system and integrate renewable energy sources; and WHEREAS, Article V, Section 9, of the City Charter permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year, provided that the total amount of such supplemental appropriations,in combination with all previous appropriations for that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, City staff has determined that the appropriation of the revenue as described herein will not cause the total amount appropriated in the Light& Power Fund to exceed the current estimate of actual and anticipated revenues to be received in that fund during any fiscal year. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That there is hereby appropriated for expenditure from unanticipated grant revenue in the Light&Power Fund the sum of THREE HUNDRED SEVENTY-TWO THOUSAND FIVE HUNDRED DOLLARS ($372,500) for the RDSI project modification. . Section 2. That there is hereby appropriated for expenditure from DDA contribution i revenue in the Light&Power Fund the sum of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) for the RDSI project modification. Section 3. That there is hereby appropriated for expenditure from other contributed revenue in the Light& Power Fund the sum of TWO HUNDRED TWENTY-TWO THOUSAND EIGHT HUNDRED TWENTY-FOUR DOLLARS ($222,824) for the RDSI project modification. . Introduced, considered favorably on first reading, and ordered published this 16th day of April, A.D. 2013, and to be presented for final passage on the 7th day of May, A.D. 2013. �AOF FORlCO` Ut . ..`y %'uy�o(r�i ATTEST: � �L `" ��ORAV� City Clerk Passed and adopted on final reading on the 7th day of May, A.D. 2013. Ma r ATTEST: F FORT CO City Clerk / ,e� µ c3t SE E1L ••COIORP��