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HomeMy WebLinkAbout08417 ORDINANCE NO. 8417 AN ORDINANCE BUDGETING AND APPROPRIATING REAL ESTATE SALE PROCEEDS IN THE AMOUNT OF $240,000 FOR FIRE STATION NO. 4 AND TRANSFERRING SAID FUNDS INTO CAPITAL PROJECT NO. PB0603 – PUEBLO FIRE STATION NO. 4 REPLACEMENT PROJECT th WHEREAS, on June 13, 2011, City Council approved a contract to buy and sell Real Estate between the City of Pueblo and Pueblo Urban Renewal Authority, and; WHEREAS, the City has received proceeds from the sale of real estate; BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: Section 1. Upon receipt, Real Estate Sale proceeds in the amount of $240,000 shall be transferred into Capital Project No. PB0603 – PUEBLO FIRE STATION #4 REPLACEMENT PROJECT. INTRODUCED November 28, 2011 BY: Judy Weaver COUNCILPERSON PASSED AND APPROVED: December 12, 2011 Background Paper for Proposed ORDINANCE DATE: NOVEMBER 28, 2011 AGENDA ITEM # R-2 DEPARTMENT: PUBLIC WORKS DIRECTOR – EARL WILKINSON, P.E. TITLE AN ORDINANCE BUDGETING AND APPROPRIATING REAL ESTATE SALE PROCEEDS IN THE AMOUNT OF $240,000 FOR FIRE STATION NO. 4 AND TRANSFERRING SAID FUNDS INTO CAPITAL PROJECT NO. PB0603 – PUEBLO FIRE STATION NO. 4 REPLACEMENT PROJECT ISSUE Should City Council authorize the use of funds in the amount of $240,000 in Real Estate sale proceeds for Pueblo Fire Station No. 4 Replacement Project? RECOMMENDATION Approval of this Ordinance. BACKGROUND th On June 13, 2011, City Council approved a Resolution authorizing a contract to buy and sell real estate between the City of Pueblo and Pueblo Urban Renewal Authority. Said funds in the amount of $240,000 are requested to be transferred into Capital Project PB0603 – Fire Station No. 4 to assist with construction costs. FINANCIAL IMPACT Funds in the amount of $240,000 will be transferred into PB0603 – Pueblo Fire Station No. 4 Replacement Project.