HomeMy WebLinkAbout1988-063-05/03/1988-FORMULA FUNDS STATE OF COLORADO TRANSFER UNOBLIGATED SECTION 9 RESOLUTION 88- 63
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE TRANSFER OF UNOBLIGATED SECTION 9
FORMULA FUNDS TO THE STATE OF COLORADO
FOR REDISTRIBUTION
WHEREAS, it has been determined that Urban Mass Transportation
Administration (UMTA) Section 9 Formula Funds for Fiscal Year 1985 in the
amount of One Hundred Thirty-five Thousand Two Hundred Fifty-six Dollars
($135,256) which are available to the City will not be programmed; and
WHEREAS, the Colorado Department of Highways, as the Designated
Recipient of public mass transportation formula funds provided under the
Urban Mass Transportation Act of 1964, as amended, for the City of Fort
Collins, has identified these One Hundred Thirty-five Thousand Two Hundred
Fifty-six Dollars ($135,256) in Section 9 Formula Funds as being in excess
of levels needed to develop and maintain coordinated mass transportation
service within the Fort Collins Urbanized Area; and
WHEREAS, in order to utilize these funds for needed public mass
transportation projects within the State of Colorado prior to the lapse of
their obligational authority on September 30, 1988, the Colorado Department
of Highways deems it appropriate to transfer these funds to the Governor of
the State of Colorado for redistribution within the State, consistent with
all applicable state and federal limitations, procedures, and requirements;
and
WHEREAS, it is understood that this transfer action is being effected
in the interest of preserving Section 9 Formula Funds for needed public
mass transportation projects within the State of Colorado and that it does
not give rise to any future obligations by the State of Colorado or other
Designated Recipients to transfer, allocate, or reformulate any funds to
effect a return of the amount transferred by this resolution to the
Colorado Department of Highways.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager be, and he hereby is, authorized to transfer
the public mass transportation Section 9 Formula Funds in the amount of One
Hundred Thirty-five Thousand Two Hundred Fifty-six Dollars ($135,256) to
the Governor of the State of Colorado for redistribution within the state,
consistent with all applicable state and federal limitations, procedures,
and requirements.
Passed and adopted at a regular meeting of t Cou '1 of the City of
Fort Collins held the 3rd day of May, A.D. 1988
Mayo
ATTEST:
City Clerk