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HomeMy WebLinkAbout1988-207-12/20/1988-$129,681 ACCOUNT CAPITAL IMPROVEMENTS EXPEND FUNDS FORT COLLINS LOVELAND AIRPORT RESOLUTION 88-207 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 $129,681 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 of Fort Collins 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 capital improvements at the Fort Collins-Loveland Airport described in the U.S. Department of Transportation Federal Aviation Administration Grant Agreement dated December 14, 1988. Section 2. That the source of funding for described capital improvements shall be the Fort Collins-Loveland Airport account; and 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 20th day of December, AD 198 Mayor ATTEST: City Clerk