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HomeMy WebLinkAbout10574RESOLUTION NO. 10574 A RESOLUTION AUTHORIZING THE TRANSFER OF $18,836 TO THE PROFESSIONAL SERVICES EXPENSE ACCOUNT WITHIN THE 1992 TO 2006 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECT FUND ( "FUND ") FOR THE PURPOSE OF PAYING AND /OR REIMBURSING ADDITIONAL ADMINISTRATIVE COSTS INCURRED FOR JOB CREATING CAPITAL IMPROVEMENT PROJECTS WHEREAS, certain administrative costs for land surveying and professional engineering services have been incurred by the City, and WHEREAS, said costs were incurred for the purpose of job creating capital improvement projects, WHEREAS, such costs and expenses should not be paid out of the City's general fund, but should be charged against the Fund and paid out of the Fund as expenses reasonably necessary and required forjob creating capital improvements. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $18,836 are hereby authorized to be transferred to the professional services expense account within the 1992 to 2006 Sales and Use Tax Capital Improvement Project Fund for the purpose of paying administrative costs incurred by the City. Said funds shall be transferred from the Projects to be Determined account within the Fund. INTRODUCED November 28, 2005 APP ' 9F CITY - CPYWIL • A, t BY Michael Occhiato Councilperson I l Background Paper for Proposed RESOLUTION AGENDA ITEM # I q DATE: November 28, 2005 DEPARTMENT: CITY MANAGER DAVID J. GALLI, CITY MANAGER DOUGLAS M. FITZGERALD, ASSISTANT CITY MANAGER TITLE A RESOLUTION AUTHORIZING THE TRANSFER OF $18,836 TO THE PROFESSIONAL SERVICES EXPENSE ACCOUNT WITHIN THE 1992 TO 2006 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECT FUND ( "FUND ") FOR THE PURPOSE OF PAYING AND /OR REIMBURSING ADDITIONAL ADMINISTRATIVE COSTS INCURRED FOR JOB CREATING CAPITAL IMPROVEMENT PROJECTS ISSUE Should the City Council approve the transfer of $18,836 for the purpose of paying professional service expenses relating to job creating capital improvement projects? Approval of the Resolution BACKGROUND Administrative costs were incurred for professional land surveying and engineering services associated with the development and subdivision of Lot 2 in the Minnequa Industrial Park and Lot 67 in the Airport Industrial Park. The professional services performed were necessary to meet the needs of potential businesses. The costs are administrative in nature and should be paid by the City. FINANCIAL IMPACT Funding for payment of these expenses will come from the Projects to be Determined account within the 1992 to 2006 Sales and Use Tax Capital Improvement Project Fund the amount of $18,836.