HomeMy WebLinkAbout10972RESOLUTION NO. 10972
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE UNITED STATES OF
AMERICA AND THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, FOR THE RELEASE
OF LOT 8 OF THE PUEBLO MEMORIAL AIRPORT INDUSTRIAL PARK SUBDIVISION TO BE
CONVEYED FOR A JOB CREATING CAPITAL IMPROVEMENT PROJECT, AUTHORIZING THE
PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME, AND AUTHORIZING THE
TRANSFER OF $273,000 FROM THE 1992 TO 2011 SALES AND USE TAX CAPITAL
IMPROVEMENT PROJECTS FUND THEREFOR
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO. that:
SECTION 1.
An Agreement, a copy of which is attached hereto and made a part hereof by reference
after having been approved as to form by the City Attorney, by and between the United States of
America and the City of Pueblo, a Municipal Corporation, to deposit in the Special Airport
Improvement Trust Fund the amount of $273,000, being the appraised value of Lot 8 (18.69 acres
of land) located at Pueblo Memorial Airport Industrial Park to be conveyed for a job creating capital
improvement project.
SECTION 2.
$273,000 is hereby authorized to be transferred from the 1992 -2011 Sales and Use Tax
Capital Improvement Projects Fund to the Special Airport Improvement Trust fund.
SECTION 3.
Within five years of the date of this Agreement, the funds received from this sale of land will
be expended for FAA approved Airport development. It is understood and agreed that this amount
will not be eligible as owner matching funds for development under the Airport Improvement
Program (AIP).
SECTION 4.
The President of the City Council is hereby authorized to execute said Agreement on behalf
of the City of Pueblo, a Municipal Corporation, and the City Clerk shall affix the Seal of the City
thereto and attest the same.
INTRODUCED April 9, 2007
APPROVED:
ESID NTof City Council
ATTESTED BY:
CITY CLERK
BY Randy Thurston
Councilperson
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M GVEREL,
Background Paper for Proposed
RESOLUTION
AGENDA ITEM #
DATE: April 9, 2007
DEPARTMENT: AVIATION - JERRY BRIENZA
TITLE
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE UNITED
STATES OF AMERICA AND THE CITY OF PUEBLO, A MUNICIPAL
CORPORATION, FOR THE RELEASE OF LOT 8 OF THE PUEBLO MEMORIAL
AIRPORT INDUSTRIAL PARK SUBDIVISION TO BE CONVEYED FOR A JOB
CREATING CAPITAL IMPROVEMENT PROJECT, AUTHORIZING THE
PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME, AND AUTHORIZING
THE TRANSFER OF $273,000 FROM THE 1992 TO 2011 SALES AND USE TAX
CAPITAL IMPROVEMENT PROJECTS FUND THEREFOR
ISSUE
Should City Council approve an agreement with the United States of America for release
of land at the Airport Industrial Park to be conveyed for a job creating capital
improvement project.
Approval of this Resolution.
This agreement with the United States of America is for the release of the land in the
Airport Industrial Park that is to be conveyed for a job creating capital improvement
project. The FAA requires the City to enter into an agreement with them prior to sending
the Deed of Release for the property.
FINANCIAL IMPACT
The amount of $273,000, which is the appraised value of Lot 8 (18.69 acres of land), is to
be transferred from the half cent sales tax fund to the Special Airport Improvement Trust
Fund upon acceptance of the Deed of Release from the FAA.