HomeMy WebLinkAbout1981-113-08/18/1981-AUTHORIZING THE CITY MANAGER TO ENTER INTO A CONTRACT WITH THE DOWNTOWN DEVELOPMENT AUTHORITY RESOLUTION 81-113
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY MANAGER TO ENTER INTO
A CONTRACT WITH THE DOWNTOWN DEVELOPMENT AUTHORITY
WHEREAS, the Downtown Development Authority was established and
created by ordinance of the City of Fort Collins, and
WHEREAS, the Downtown Development Authority was established by the
City to perform quasi-public services and said services are beneficial to
the City, and
WHEREAS, the Downtown Development Authority finds it necessary to
obtain funds for operating expenses during the balance of 1981 and the
first quarter of 1982, and
WHEREAS, Section 31-25-808, C R S , 1973, as amended, authorizes loans
to be made by the City of Fort Collins to the Downtown Development Au-
thority, and
WHEREAS, the Downtown Development Authority will be in a position
in the future to pay the City for any monies loaned by the City to the
Downtown Development Authority
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager is hereby authorized to enter into an agree-
ment whereby the City would loan funds to the Downtown Development Au-
thority, not to exceed Twenty Seven Thousand Dollars ($27,000 00) for use
by the Downtown Development Authority to pay its operating expenses
during the balance of 1981 and whereby the City of Fort Collins would loan
monies not to exceed Twenty Thousand Dollars ($20,000 00) for use by the
Downtown Development Authority to pay its operating expenses during the
first quarter of 1982
Passed and adopted at a regular meeting of the City Council held this
18th day of August 1981
Assistant Mayor
ATTEST
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City Clerk