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HomeMy WebLinkAbout10591RESOLUTION NO. 10591 A RESOLUTION AUTHORIZING THE TRANSFER OF $6,729 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 ADMINISTRATIVE COSTS INCURRED FOR JOB CREATING CAPITAL IMPROVEMENT PROJECTS WHEREAS, certain administrative costs for professional engineering and other services have been incurred, 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 $6,729 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. Said funds shall be transferred from the Projects to be Determined account within the Fund. INTRODUCED December 12, 2005 APP ' 9F CITY - CPYWIL • A, t BY Michael Occhiato Councilperson - ALY, Background Paper for Proposed RESOLUTION DATE: December 12, 2005 AGENDA ITEM # 17 DEPARTMENT: CITY MANAGER DAVID J. GALLI, CITY MANAGER DOUGLAS M. FITZGERALD, ASSISTANT CITY MANAGER TITLE A RESOLUTION AUTHORIZING THE TRANSFER OF $6,729 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 ADMINISTRATIVE COSTS INCURRED FOR JOB CREATING CAPITAL IMPROVEMENT PROJECTS ISSUE Should the City Council approve the transfer of $6,729 for the purpose of paying administrative expenses relating to job creating capital improvement projects? Approval of the Resolution BACKGROUND Engineering and other professional costs were incurred for the purpose of preparing various locations for potential new job creating capital improvement projects. 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 $6,729.