HomeMy WebLinkAbout06030ORDINANCE NO.
6030
AN ORDINANCE ADOPTING THE 1996 BUDGET FOR THE
"SALES AND USE TAX CAPITAL IMPROVEMENT FUND"
TO BE USED WITHIN THE CITY AND THE PUEBLO
MEMORIAL AIRPORT
WHEREAS, the City of Pueblo, Colorado has enacted Ordinance No.
5668, providing for a one -half cent sales tax rate increase for a five
year period, pledging the revenue therefrom for capital improvement
purposes within the City and Memorial Airport; and
WHEREAS, the anticipated revenues from this 1996 tax is four
million dollars ($4,000,000) for the year 1996; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
SECTION 1
The following budget for the year 1996 is hereby adopted and the
following appropriation for expenditures of anticipated revenues is hereby
made:
(a) Anticipated Revenues:
1995 Sales Tax $ 4,000,000
Prior year Reserves 7.000,000
Total Revenue $11,000,000
(b) Expenditures:
Projects to be determined $10,725,000
Professional Services 100,000
Capital Projects R/M 100,000
Invest Transfer CIF 75,000
Total $11,000,000
SECTION 2
All projects not specifically budgeted for by this ordinance
shall be funded out of "Projects to be determined" account by resolution
approved by City Council for such projects.
INTRODUCED November 13 , 1995
BY John Califano
Councilman
APPROVED:
r
President of Council
ATTEST:
City Clerk