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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