HomeMy WebLinkAbout11450RESOLUTION NO. 11450
A RESOLUTION DIRECTING THE CITY MANAGER TO DESIGNATE
$2,200,000 OF GENERAL FUND RESERVES IN THE 2009 BUDGET TO BE
USED FOR PARTIAL PAYMENTS FOR THE POLICE BUILDING LEASE
OBLIGATION STARTING IN 2010 AND CONTINUING THROUGH 2017
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
The City Manager is hereby directed to designate $2,200,000 in the 2009 budget
to be used for future partial payments on the Police Building lease.
INTRODUCED September 22, 2008
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PASSED AND APPROVED: October 27, 2008
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM # 14
DATE: September 22, 2008
DEPARTMENT: DAVID J.GALLI, CITY MANAGER
TITLE
A RESOLUTION DIRECTING THE CITY MANAGER TO DESIGNATE $2,200,000 OF
GENERAL FUND RESERVES IN THE 2009 BUDGET TO BE USED FOR PARTIAL
PAYMENTS FOR THE POLICE BUILDING LEASE OBLIGATION STARTING IN 2010
AND CONTINUING THROUGH 2017.
ISSUE
Should the City Council designate General Fund reserves to use for future payments on
the police building lease?
RECOMMENDATION
Placed on the Agenda at the request of Councilperson Ortegon.
BACKGROUND
This resolution has been prepared at the request of Councilperson Ortegon. It asks City
Council to designate $2,200,000 of current General Fund reserves for the purpose of
paying $275,000 per year starting in 2010, toward the Police Building Lease. As a
designation this resolution simply states City Council `s desire to set aside funds for this
purpose.
FINANCIAL IMPACT
By designating General Fund reserves, the amount of reserves available for other future
purposes is reduced.