HomeMy WebLinkAbout11287RESOLUTION NO. 11287
A RESOLUTION AUTHORIZING THE TRANSFER OF $300,000.00 FROM THE 1992 -2011
SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND TO CAPITAL PROJECTS
FOR REPAIRS AND UPGRADES TO AND EXPANSION OF THE RAILROAD TRACK AT
PUEBLO MEMORIAL AIRPORT INDUSTRIAL PARK
WHEREAS, the railroad track at Pueblo Memorial Airport Industrial Park ( "Airport Industrial
Park ") serves businesses locating in the Airport Industrial Park which create primary jobs, and
WHEREAS, the railroad track is in need of repairs, upgrades, and expansion to further
serve and accommodate businesses now located and in the future will locate in the Airport
Industrial Park thereby maintaining and creating primary jobs, and
WHEREAS, the use of the 1992 -2011 Sales and Use Tax Capital Improvement Projects
Fund for repairs and upgrades to and expansion of the railroad track will maintain and create
primary jobs in furtherance of and within the purpose and meaning of Ordinance No. 6381. NOW,
THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
City Council finds and determines that the use of the 1992 -2011 Sales and Use Tax Capital
Improvement Projects Fund to repair, upgrade and expand the railroad track at the Airport
Industrial Park is in furtherance of and meets and complies with the criteria and standards
established by Ordinance No. 6381 and will maintain and create primary job employment
opportunities justifying such expenditure of the 1992 -2011 Sales and Use Tax Capital
Improvement Projects Fund.
SECTION 2
Funds in the amount of $300,000.00 are hereby transferred from the 1992 -2011 Job
Creating Capital Improvement Projects Fund to Capital Projects for the repair, upgrade and
expansion of the railroad track at the Airport Industrial Park.
SECTION 3_
This Resolution shall become effective upon final passage and approval.
BY Judy Weaver
Councilperson
AP PROVE
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PPI`81f I T' i I
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INTRODUCED April 28, 2008
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM # (O
DATE: April 28, 2008
DEPARTMENT: Law Department
TITLE
A RESOLUTION AUTHORIZING THE TRANSFER OF $300,000.00 FROM THE
1992 -2011 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND
TO CAPITAL PROJECTS FOR REPAIRSAND UPGRADES TOAND EXPANSION
OF THE RAILROAD TRACK AT PUEBLO MEMORIAL AIRPORT INDUSTRIAL
PARK
ISSUE
Should City Council authorize the use of $300,000 of the one -half cent sales and
use tax funds for repairs and upgrades to and expansion of the railroad track at the
Airport Industrial Park?
RECOMMENDATION
City staff and PEDCO recommend approval.
BACKGROUND
In order to maintain existing business and encourage new businesses to locate at
the Pueblo Airport Industrial Park for primary job creating purposes, the railroad
track at the Airport Industrial Park needs to be repaired, upgraded and expanded.
FINANCIAL IMPACT
$300,000 of the one -half cent sales and use tax fund will be spent for repairs and
upgrades to and expansion of the railroad track at the Airport Industrial Park.