HomeMy WebLinkAbout8875RESOLUTION NO 8875
A RESOLUTION ESTABLISHING RESERVE INCREASES WITH RESPECT
TO FISCAL YEAR SPENDING FOR FISCAL YEAR 1999
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 1999 Reserve Increases be considered
a part of the City's 1999 "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 1999 increases to net fund balances shall constitute and be
considered "Reserve Increases," and therefore a part of 1999 "Fiscal Year
Spending" within the meaning of Article X, Section 20 (2)(e) of the Colorado
Constitution.
SECTION 2.
Any and all 1999 year end balances shall constitute and be considered
"Reserves" 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.
INTRODUCED December 27, 1999
BY Al GVule
ou cilperso
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APPROVE
President of Council
M P-4 6 A.