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HomeMy WebLinkAbout8603RESOLUTION NO. 8603 A RESOLUTION APPROVING AN ADDENDUM TO THE FUNDING AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND THE HISTORIC ARKANSAS RIVERWALK OF PUEBLO AUTHORITY FOR FISCAL YEAR 1999 AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME WHEREAS, the City has previously entered into a Funding Agreement with the Historic Arkansas Riverwalk of Pueblo Authority ( "Authority ") dated July 1, 1998, and WHEREAS, said Funding Agreement states that the City may renew this Agreement for additional fiscal years through an Addendum approved by the City Council of the City and the HARP Council of Authority and signed by the authorized officers of each party, and WHEREAS, the City has budgeted and appropriated $187,000 to be expended during fiscal year 1999 for the operation and maintenance of HARP (the "City Funds "), and WHEREAS, it would be in the best interest of the City and Authority that City Funds be made available pursuant to an Addendum to the Funding Agreement between the City and the Authority. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The Addendum dated January 1, 1999 between Pueblo, a municipal corporation and the Historic Arkansas Riverwalk of Pueblo Authority, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. The President of City Council is authorized to execute and deliver the Funding Agreement in the name of the City and the City Clerk is authorized and directed to affix the seal of the City thereto and attest same. SECTION 2 Funds in the amount of $187,000 are authorized to be expended out of Account No. 001- 190 - 190 - 000 - 030 -0861 and made available to the Authority for use in compliance with the terms and provisions of the Funding Agreement dated July 1, 1998, and the Addendum to the Funding Agreement dated January 1, 1999. ATTEST: INTRODUCED: January 11, 1999 By: John Verna Councilperson APPROVED: w �&x-, OA- City rk President of the City Council /C296 ff 8(a63 a joqA / - / / - Cjq COUNCIL AGENDA TITLE: RESOLUTION APPROVING AN ADDENDUM TO THE FUNDING AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND THE HISTORIC ARKANSAS RIVERWALK OF PUEBLO AUTHORITY FOR FISCAL YEAR 1999 AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAME DEPT: Finance DATE: December 23, 1998 ISSUE: Approval and execution of the Addendum to the Funding Agreement for funds to be expended in fiscal year 1999. RECOMMENDATION: Approval of the Resolution and execution of the Addendum. BACKGROUND: Resolution No. 8467 approved the Funding Agreement dated July 1, 1998 between the City of Pueblo and the HARP Authority for the operation and maintenance of HARP for the fiscal year of 1998. The Funding Agreement states that renewal for additional fiscal years be done by an Addendum approved by the City Council and the HARP Authority. This Resolution will approved the Addendum for funding for fiscal year 1999 in the amount of $187,000. This amount has been budgeted and appropriated for fiscal year 1999. ADDENDUM This Addendum entered into as of January 1, 1999 between the City of Pueblo (the "City ") and the Historic Arkansas Riverwalk of Pueblo (the "Authority "), Witnesseth: In accordance with Article G of the July 1, 1998 Funding Agreement between the City and the Authority (the "Funding Agreement "), the City and Authority agree that Section C.1 of the Funding Agreement shall be amended to read as follows: C. City Funding 1. In consideration of Authority satisfactorily performing its duties and obligations under the Intergovernmental Agreement and this Agreement, City shall make available to Authority during City's current fiscal year a sum not to exceed $187,000 ( "City Funds "). City and Authority further agree that the Funding Agreement as herein amended is renewed for the period January 1, 1999 through December 31, 1999, and that the terms and conditions of the Funding Agreement as herein amended are hereby reaffirmed and shall continue in full force and effect through the renewal period and be binding upon and inure to the benefit of City and Authority and their respective successors and assigns. This Addendum is intended to and shall be come effective January 1, 1999. Executed in Pueblo, Colorado as of the day and year first above written. HISTORIC ARKANSAS RIVERWALK OF PUEBLO AUTHORITY By Chairperson of HARP Counci P 7 � i P _ Attest. .`Secretary PUEBLO, A MUNICIPAL CORPORATION B "I : of the City Council Attest: - P City k