HomeMy WebLinkAbout1989-226-12/19/1989-AUTHORIZING THE CITY TO EXPEND FUNDS FROM THE FORT COLLINS-LOVELAND AIRPORT ACCOUNT FOR THE PURPOSE RESOLUTION 89- 226
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 NECESSARY CAPITAL REPAIRS
FOR A SUM NOT TO EXCEED $80,000
WHEREAS, the Cities of Fort Collins and Loveland have entered into an
agreement whereby the two cities will share equally in Airport expenditures
to the extent the Airport Authority has insufficient funds to incur the
expenditure; and
WHEREAS, the City of Fort Collins maintains a reserve fund for Airport
expenditures which has been funded by reserve contributions from the
Airport dating from the beginning of the joint operation of the Airport by
the cities of Fort Collins and Loveland; and
WHEREAS, expenditure of this money is necessary to perform needed
repairs to the T-Hangars owned by the two cities and leased by the Airport
Authority; and
WHEREAS, it is in the cities' best interest to properly maintain the
infrastructure at the Airport; and
WHEREAS, the City of Loveland has already agreed to this expenditure
from this account.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1 . That the City Manager be and hereby is authorized to
expend a sum not to exceed Eighty Thousand Dollars ($80,000) for major
maintenance work on the Airport T-Hangars pursuant to an agreement with the
City of Loveland relating to the Airport.
Section 2. That the source of funding for the described capital
improvements shall be the Fort Collins-Loveland Airport Account.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 19th day of December, A.D. 1989.
r
Mayor
ATTEST:
City Clerk