HomeMy WebLinkAbout1991-137-10/15/1991-1992 BUDGET POUDRE FIRE AUTHORITY REVENUE ALLOCATION FORMULA RESOLUTION 91- 137
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING A REVENUE ALLOCATION FORMULA TO
DEFINE THE CITY OF FORT COLLINS' CONTRIBUTION
TO THE POUDRE FIRE AUTHORITY BUDGET FOR THE YEAR 1992
WHEREAS, the City of Fort Collins (the "City") entered into an
intergovernmental agreement dated December 22, 1981, with the Poudre Valley Fire
Protection District (the "District") , creating the Poudre Fire Authority (the
"Authority") as an independent entity; and
WHEREAS, the Authority has adopted a preliminary budget for the fiscal year
ending December 31, 1992, and submitted that budget to the City Council ; and
WHEREAS, the Authority's budget shall become final only after approval of
the appropriations by the governing bodies of the City and the District; and
WHEREAS, as a part of the intergovernmental agreement, the City agreed to
contribute funding for maintenance and operation costs to the Authority based
on a "Revenue Allocation Formula" which shall be set annually based upon a
percentage of sales and use tax revenues (excluding sales and use tax revenue
which must be spent on specific projects) and a portion of the operating mill
levy of the City's property taxes; and
WHEREAS, the dollar amount of the City's contribution, determined through
the use of the "Revenue Allocation Formula" shall be based upon the City' s
revenue projections made during the City's budgetary process; and
WHEREAS, the Authority provides fire protection services to all properties
within the City limits and the City has a continuing commitment to provide
funding to the Authority to accomplish the provision of these public safety
services.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that the following revenue allocation formula be adopted as the City's
contribution to the Poudre Fire Authority for the year 1992:
REVENUE ALLOCATION FORMULA
The City will contribute to the Poudre Fire Authority a sum equal to .303 of one
cent of the City's 2.25 cent sales and use tax rate applicable to sales and use
tax revenues (excluding sales tax revenue which must be spent on specific
projects) and a sum equal to 5. 177 mills of the operating mill levy of the City' s
property taxes to provide for maintenance and operation costs of the Poudre Fire
Authority.
Passed and adopted at a regular meeting of the Council of the City of Fort
Collins held this 15th day of October, A.D. 1991 .
Mayor
ATTEST: