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HomeMy WebLinkAbout8206RESOLUTION NO. 8206 A RESOLUTION AUTHORIZING THE EXPENDITURE AND TRANSFER OF FUNDS FROM THE 1992 -2001 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND TO PUEBLO DEVELOPMENT FOUNDATION FOR REIMBURSEMENT OF COSTS OF CONSTRUCTING A BUILDING AT PUEBLO MEMORIAL AIRPORT INDUSTRIAL PARK WHEREAS, City by Resolution No. 7597 approved an agreement between the City and Pueblo Development Foundation ( "PDF ") relating to the transfer of land and construction of a building at the Pueblo Memorial Airport Industrial Park, and the expenditure of $410,000 therefor, and WHEREAS, PDF completed construction of the building at a cost of $454,873, and WHEREAS, through the Haddonstone (USA) Ltd. job creating capital improvement project transaction, PDF reimbursed the City in the amount of $455,884 for funds advanced by City for the costs of constructing the building, and WHEREAS, the difference between the amount advanced to PDF by City and the cost of construction, in the amount of $43,653.08 should be reimbursed to PDF. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 $43,653.08 is authorized to be expended and transferred from the Projects To Be Determined Account of the 1992 -2001 Sales and Use Tax Capital Improvement Projects Fund to the Pueblo Development Foundation for the specific purpose of reimbursing Pueblo Development Foundation for costs of constructing the building described and contemplated by Resolution No. 7597 and the April 10, 1995 Agreement between City and Pueblo Development Foundation. INTRODUCED: August 25, 1997 By Samuel Corsentino Councilperson ATTEST: City Clerk • ' ' : • President o he Ay Council -2-