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HomeMy WebLinkAbout1973-24 4th Budget Supplemental for 1973 ORDINANCE NO. 24 Series of 1973 A SUPPLEMENTAL ORDINANCE AUTHORIZING THE EXPENDITURES OF FUNDS BY THE TOWN OF VAX L IN EXCESS OF THE TOWN BUDGET FOR 1973; AND SETTING FORTH MATTERS AND DETAILS IN RELATION THERETO. WHEREAS, the qualified electors of the Town of Vail at a special municipal election held on the 25th day of September, '1973, duly approved the acquisition of certain real property within the Town of Vai! and approved the expenditure of $3,000,000.00 for said acquisition; and WHEREAS, the Town Council for the Town of Vail has derived the sum of $3,200,000.00 from the actual sale of said general obligation bonds; and WHEREAS, the Town Council has previous ly adopted a budget which did not take into consideration the successful bond election and sale proceeds derived from the sale ~fr said bonds; nor has said budget taken into consider- ation the actual appropriation for the expenditure of said sum for the acquisition of the rea l property as approved in the said special municipal election; and WHEREAS, the Town Manager has certified to the Town Council that sufficient funds are available to discharge the appropriations referred to herein, not otherwise reflected in the budget, in accordance with Section 9. 10(a) of the Charter for the Town of Vail; and WHEREAS, due to the contingencies which could not have been , foreseen at the time of the adoption of the Town's budget, the Town Council considers that a need exists to approve a supplemental appropriation for the purposes hereinafter set forth; NOW, THEREFORE, BE IT ORDAINED BY THE T0~1I N COUNCI L OF THE TOWN OF VAI L, COLORADO, THAT: Section 1 . Appropriation For Acquisition of Real Property and Related Expenses . There is hereby appropriated from the General Fund of the Town of Vail the sum of $3,200,000.00, derived from the sale of general obligation bonds issued by the Town, for the purchase and acquisition of the real estate referred to and described in Ordinance No. 6 (Series of 1973). The Finance Director far the Town is authorized to make expenditures from the fund for the purposes herein set forth and to further discharge any and all obligations of the Town for legal services, appraisals, interest or bank charges, surveys or other data related to the acquisition of the real property referred to in this ordinance. Section 2. Severabiiity. If any part, section, subsection, sente-~ce, clause or phrase of this ordinance is for any reason held to be invalid, such decision shalt not affect the validity of the remaining portions of this ordinance; and the Town Council for the Town of Vail hereby declares it would have passed this ordinance and each part, section, subsection, sentence, clause or phrase thereof, irrespective of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. ,~. Page 2 Ordinance No. 24 TOWN OF VAI L INTRODUCED, READ, APPROVED AND ORDERED PUBLISHED this sixth day of November, '1973. ATTEST: Town Clerk TOWN OF VAI L By i~~L Mayor INTRODUCED, READ, ADOPTED AND ORDERED PUBLISHED this fourth day of December, 1973. ATTEST: 1 ' ~~ `, ~-d-}7 ~ J Town C lerl~ - . 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