HomeMy WebLinkAbout8281RESOLUTION NO 8281
A RESOLUTION ESTABLISHING RESERVE
INCREASES WITH RESPECT TO FISCAL YEAR
SPENDING FOR FISCAL YEAR 1997
'WHEREAS, Article X, Section 20(2)(e) of the Colorado Constitution defines "Fiscal
Year Spending" to include "Reserve Increases," and;
WHEREAS, it would be in the best interest of the City to establish by action of the
City Council that any and all 1997 Reserve Increases be considered a part of the City's
1997 "Fiscal Year Spending" and that all year end fund balances be considered as a
"Reserve." NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
SECTION 1:
Any and all 1997 increases to net fund balances shall constitute and be considered
"Reserve Increases," and therefore a part of 1997 "Fiscal Year Spending" within the
meaning of Article X, Section 20(2)(e) of the Colorado Constitution.
SECTION 2:
Any and all 1997 year end balances shall constitute and be considered "Reserves"
INTRODUCED December 8, 1997
BY: John Verna
Councilperson
and all subsequent expenditures and transfers from such "Reserves" shall be excluded
from "Fiscal Year Spending" within the meaning of Article X, Section 20(2)(e) of the
Colorado Constitution.
ATTEST:
City Cler
APPROVED:
at�
President of e Cou cil