HomeMy WebLinkAbout11945RESOLUTION NO. 11945
A RESOLUTION AUTHORIZING THE TRANSFER OF
$3,500,000 FROM CAPITAL PROJECT NO. CP0922, BLACK
HILLS-PROJECTS TO BE DETERMINED, FOR COSTS
RELATED TO THE RENOVATION OF THE INTERIOR OF
CITY HALL
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Funds in the amount of $3,500,000 are hereby transferred from Capital Project No.
CP0922, Black Hills-Projects to be Determined, to Project No. PL0904, City Hall Interior
Renovation.
SECTION 2.
This Resolution shall be effective immediately upon passage.
INTRODUCED: July 26, 2010
BY: Ray Aguilera /COUNCILPERSON
Background Paper for Proposed
RESOLUTION
# Q-1
DATE: AGENDA ITEM
JULY 26, 2010
DEPARTMENT:
OFFICE OF THE CITY MANAGER
JERRY M. PACHECO, CITY MANAGER
TITLE
A RESOLUTION AUTHORIZING THE TRANSFER OF $3,500,000 FROM CAPITAL
PROJECT NO. CP0922, BLACK HILLS-PROJECTS TO BE DETERMINED, FOR COSTS
RELATED TO THE RENOVATION OF THE INTERIOR OF CITY HALL
ISSUE
Should the City Council authorize the transfer of funds for costs related to the renovation of the
interior of City Hall?
RECOMMENDATION
Approval of the Resolution.
BACKGROUND
Black Hills Energy previously paid to the City the amount of $4.6 million in accordance with the
Pre-Annexation Agreement dated December 28, 2009. The total amount was appropriated for a
"Projects to be Determined" account until the annexation was complete and determinations could
be made as to the use of the funds. This Resolution transfers $3.5 million of the funds into
Project No. PL0904, City Hall Interior Renovation, as a portion of the funding needed to
complete the total renovation of City Hall. The total amount due to the City as a result of this
annexation is $7.5 million. The remaining $2.9 million will be forwarded to the City either by
October of 2010 or January of 2011 per City’s decision.
FINANCIAL IMPACT
The amount of $3.5 million shall be transferred from Capital Project No. CP0922, Black Hills-
Projects to be Determined, to Capital Project No. PL0904, City Hall Interior Renovation. There
will be no impact to the General Fund.