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HomeMy WebLinkAbout1987-149-10/06/1987-1988 BUDGET DOWNTOWN DEVELOPMENT AUTHORITY MILL LEVY RESOLUTION 87-149 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING A BUDGET OF THE ESTIMATED REVENUES AND EXPENDITURES REQUIRED TO PAY THE EXPENSES OF CONDUCTING THE BUSINESS OF THE DOWNTOWN DEVELOPMENT AUTHORITY AND DIRECTING THE CITY CLERK TO CERTIFY THE MILL LEVY FOR THE DOWNTOWN DEVELOPMENT AUTHORITY FOR THE FISCAL YEAR ENDING DECEMBER 31, 1988 WHEREAS, the Fort Collins Downtown Development Authority has been duly organized in accordance with Section 31-25-804, C.R.S. ; and WHEREAS, the Board of Directors of the Downtown Development Authority has, under provisions of Section 31-25-916, C.R.S. , adopted a budget for the fiscal year ending December 31, 1988; and WHEREAS, the Council of the City of Fort Collins wishes to approve said budget as recommended by the Board of the Downtown Development Authority. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the following budget for the Downtown Development Authority be, and it hereby is, approved for the fiscal year ending December 31 , 1988 as follows: Operating Expenses Personal Services $ 75,310.00 Contractual 65,520.00 Commodities 5, 100.00 Capital Outlay 2,000.00 Other (Loan repay $2500) 2,500.00 Contingency 22,456.00 Total $ 172,886.00 Section 2. That the mill levy rate for taxation upon all the taxable property within the Downtown Development Authority District for the fiscal year ending December 31, 1988, shall be 3.051 mills, which levy represents the amount of taxes for the Downtown Development Authority purposes necessary to provide for payment during the ensuing budget year of all properly authorized demands against the Downtown Development Authority. Said mill levy of 3.051 mills shall be distributed to General Expense, which levy as so distributed shall be certified to the Board of County Commissioners of Larimer County, Colorado, by the City Clerk as provided by law. Passed and adopted at a regular meeting of the City Council held this 6th day of October, A. D. 1987. 1 l�s ;sh�t Mayor ATTEST: City Clerk