HomeMy WebLinkAbout1989-189-10/17/1989-ADOPTING FINANCIAL POLICIES CONCERNING THE CITY OF FORT COLLINS CONTRIBUTION TO THE BUDGET OF THE PO RESOLUTION 89-189
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING FINANCIAL POLICIES CONCERNING THE
CITY OF FORT COLLINS' CONTRIBUTION TO
THE BUDGET OF THE POUDRE FIRE AUTHORITY FOR
THE YEAR 1990
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 governmental entity; and
WHEREAS, the Authority has adopted a preliminary budget for the fiscal
year ending December 31, 1990, 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 its 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 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 fiscal year ending
December 31, 1990:
The City will contribute to the Poudre Fire Authority a sum equal
to .303 of one cent of the City's 2.25 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 5.286 mills of the operating mill levy of the City's property
taxes to provide for maintenance and operation costs, including
equipment replacement, of Poudre Fire Authority.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 17th day of October, A.D. 1989.
Mayor
U�k
City Clerk QS