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HomeMy WebLinkAbout1992-181-12/15/1992-AMENDMENT 1 ARTICLE X, SECTION 20 EMERGENCY RESERVES UNSPENT MONEYS RESOLUTION 92-181 OF THE COUNCIL OF THE CITY OF FORT COLLINS DESIGNATING CERTAIN UNSPENT MONEYS AS ADDITIONS TO RESERVES IN THE FISCAL/CALENDAR YEAR 1992 WHEREAS, the City of Fort Collins, Colorado, has deposited or will deposit on or before December 31, 1992, in the proper funds and accounts maintained by the City or by trustees, escrow agents or depositories for the benefit or on behalf of the City as required by the Charter and ordinances of the City all moneys received and not expended on or before December 31, 1992 (the "Unspent Moneys") , including moneys received on account of taxes, assessments, fees, charges, State or local government grants, bond issues (including refunding bond issues) investment income and any other moneys eligible for designation as additions to reserves, to the extent permitted by Article X, Section 20 of the State Constitution, and excluding only those moneys received on account of gifts, Federal funds, collections for another government, pension contributions by City employees, pension fund earnings, reserve transfers, damage awards, property sales and any other moneys not eligible for designation as additions to reserves, to the extent disallowed by Article X, Section 20 of the State Constitution. WHEREAS, the City desires to designate the Unspent Moneys as additions to reserves for the purposes for which said funds and accounts were created and not as "emergency reserves" within the meaning of Article X, Section 20 of the State Constitution in order that the Unspent Moneys may be considered "reserve increases" in computing "fiscal year spending" as defined in Article X, Section 20 of the State Constitution. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the Unspent Moneys are hereby designated as additions to reserves for the purposes described above and not as "emergency reserves" within the meaning of Article X, Section 20 of the State Constitution. Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 15th day of December, A.D. 1992. tiAi1Y) Mayor ATTEST: City C erc