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HomeMy WebLinkAbout08545ORDINANCE NO. 8545 AN ORDINANCE TRANSFERRING EXPENDITURES IN THE AMOUNT OF $79,753 FROM LT1204 HISTORIC CAROUSEL REPAIR TO CP1109 KIDDIE RIDE COMPLEX IMPROVEMENTS WHEREAS, the 2012 City of Pueblo Budget established the Historic Carousel Repair Project, No. LT1204, utilizing Conservation Trust Funds for said project; and WHEREAS, Pueblo County provided $300,000 in funds from the proceeds of the 1-A County Ballot initiative approved in November, 2006 for improvements to the Kiddie Ride Facility at City Park that were received by the City and budgeted in CP1109 Kiddie Ride Complex Improvement Project; and WHEREAS, Pueblo County funds from the 1-A County Ballot initiative are eligible to be expended for repairs to the Historic Carousel which is part of the City Park Kiddie Ride facility. BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Expenditures in the amount of $79,753 are hereby approved to be transferred from Capital Project, No. LT1204, Historic Carousel Repair Project to CP1109, Kiddie Ride Complex Improvements. SECTION 2. This Ordinance shall become effective upon final passage and approval. INTRODUCED: November 26, 2012 BY: Leroy Garcia COUNCIL PERSON PASSED AND APPROVED: December 10, 2012 Background Paper for Proposed ORDINANCE DATE: NOVEMBER 26, 2012 AGENDA ITEM # R-4 DEPARTMENT: PARKS AND RECREATION STEVEN MEIER, INTERIM DIRECTOR TITLE AN ORDINANCE TRANSFERRING EXPENDITURES IN THE AMOUNT OF $79,753 FROM LT1204 HISTORIC CAROUSEL REPAIR TO CP1109 KIDDIE RIDE COMPLEX IMPROVEMENTS ISSUE Should City Council approve an Ordinance transferring expenditures in the amount of $79,753 from LT1204 Historic Carousel Repair Project to CP1109 Kiddie Ride Complex Improvements? RECOMMENDATION Approval of the Ordinance. BACKGROUND The 2012 City of Pueblo Budget established the Historic Carousel Repair Project, No. LT1204 utilizing Conservation Trust Funds to complete repairs including replacement of the carousel gear system. Pueblo County provided $300,000 in funds from the proceeds of the 1-A County Ballot initiative approved in November, 2006 for improvements to the Kiddie Ride Facility at City Park that was received by the City and budgeted in CP1109 Kiddie Ride Complex Improvement Project. This Ordinance will transfer $79,753 of the expenditures from LT1204 Historic Carousel Repair Project to CP1109 Kiddie Ride Complex Improvement Project. The funds from the 1-A County Ballot initiative are eligible to be expended for repairs to the Historic Carousel which is part of the City Park Kiddie Ride facility. FINANCIAL IMPACT The transfer of the expenditures from the LT1204 Historic Carousel Repair Project from to CP1109 Kiddie Ride Complex Improvement Project will spend $79,753 of the 1-A County Ballot funds and provide $79,753 of Conservation Trust Funds for other eligible Parks and Recreation Department projects.