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:
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