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Home My WebLink About11290RESOLUTION NO. 11290 A RESOLUTION AUTHORIZING THE TRANSFER OF $10,000 FROM THE CONTINGENCIES ACCOUNT IN THE 2008 GENERAL FUND BUDGET TO THE OUT OF CYCLE REQUESTS TO FUND A SPONSORSHIP AND SCHOLARSHIP FUND FOR THE LITTLE BRITCHES RODEO BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 _ The transfer of $10,000 from the Contingencies Account in the 2008 General Fund budget to the Out of Cycle Requests Fund is hereby approved. SECTION 2_ Said funds shall be disbursed from the Out of Cycle Requests Fund to provide sponsor and scholarship funding for the 2008 Little Britches Rodeo. INTRODUCED Mav 12. 2008 Background Paper for Proposed RESOLUTION DATE: May 12, 2008 AGENDA ITEM # DEPARTMENT: OFFICE OF THE CITY MANAGER DAVE GALLI, CITY MANAGER DOUG FITZGERALD, ASSISTANT CITY MANAGER TITLE q A RESOLUTION AUTHORIZING THE TRANSFER OF $10,000 FROM THE CONTINGENCIES ACCOUNT IN THE 2008 GENERAL FUND BUDGET TO THE OUT OF CYCLE REQUESTS TO FUND A SPONSORSHIP AND SCHOLARSHIP FUND FOR THE LITTLE BRITCHES RODEO ISSUE Should the City Council appropriate $10,000 to sponsor the 2008 Little Britches Rodeo and the Little Britches Scholarship Fund? BACKGROUND The Little Britches Rodeo has committed to a five -year relocation of its annual event to the City of Pueblo and is currently in the third (3` year of this commitment. For this five - year commitment, it is the intent of the City of Pueblo to be a marquee sponsor of this event for an amount of $5,000 along with other organizations in the community. The other organizations, Pueblo County, the Colorado State Fair, and the Greater Pueblo Chamber of Commerce, will each contribute $5,000 to this sponsorship as well. In addition to this $5,000 sponsorship contribution, an additional $5,000 will be allocated to the Little Britches Scholarship Fund. The participants of the Little Britches event use this fund for secondary educational pursuits and goals. RECOMMENDATION Approval of the Resolution. FINANCIAL IMPACT Funds in the amount of $10,000 will be transferred from the Contingencies Account in the 2008 General Fund Budget (see attached spreadsheet for the balance in the contingencies account).