HomeMy WebLinkAbout1988-103-07/05/1988-AIRPORT ACCOUNT CAPITAL IMPROVEMENTS EXPEND FUNDS FORT COLLINS LOVELAND RESOLUTION 88-103
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY TO EXPEND FUNDS FROM
THE FORT COLLINS-LOVELAND AIRPORT ACCOUNT
FOR THE PURPOSE OF CAPITAL IMPROVEMENTS
FOR A SUM NOT TO EXCEED $111, 111
WHEREAS, the Cities of Fort Collins and Loveland, as sponsor for the
Fort Collins-Loveland Airport, have received a grant from the U.S.
Department of Transportation Federal Aviation Administration to make
capital improvements at the Fort Collins-Loveland Airport; and
WHEREAS, the City of Fort Collins has issued sales and use tax bonds
for the construction of capital improvements at the airport and maintains
an account for the payment of costs for such improvements; and
WHEREAS, the Cities of Fort Collins and Loveland have entered into an
agreement whereby the City of Loveland will pay to the City of Fort Collins
one-half of the costs incurred by the City for such capital projects.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1 . That the City Manager is authorized to pay for the
following capital improvements at the Fort Collins-Loveland Airport: per
the U.S. Department of Transportation Federal Aviation Administration Grant
Agreement dated May 20, 1988.
Section 2. That the source of funding for described capital
improvements shall be the Fort Collins-Loveland Airport account. The
expenditure of the funds shall only be undertaken after the City of
Loveland has given its consent and ratification to the terms contained in
this Resolution.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 5th day of July, A.D. 1988.
Ma
TTEST:
Ci y Clerk