HomeMy WebLinkAbout1986-130-08/05/1986-AMENDING RESOLUTION 84-92 Option A
RESOLUTION 86-130
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING RESOLUTION 84-92
WHEREAS, the City Council adopted Resolution 84-92 on June 5, 1984;
and
WHEREAS, Resolution 84-92 adopted Industrial Development Revenue Bond
Policies and Criteria; and
WHEREAS, the Resolution 84-92 contains no provisions for the
calculation of certain City fees on refunding Industrial Development
Revenue Bond issues; and
WHEREAS, City Council wishes to amend Resolution 84-92 to provide a
method of calculation of certain City fees on refunding Industrial
Development Revenue Bond issues.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that Resolution 84-92 is amended as follows:
1. A Section is added to Resolution 84-92 immediately following
Section V to read:
Refunding Bonds. If the proposed issuance is a current refunding
the following fees will be paid to the City by the applicant:
$1,000 application fee as provided in Section IV; and a fee equal
to the present value of the amount to be derived from applying
1/16 of 1% to the unpaid principal amount of the bonds at the end
of each bond year less a credit for the fee originally paid for
bond years which are being refunded, if the issuance is approved
by the City of Fort Collins and Industrial Development Revenue
Bonds are issued.
2. The remaining sections of Resolution 84-92 are renumbered to
reflect the insertion of the amendment.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins this 5th day of August, 1986.
May r
ATTEST:
City Clerk