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HomeMy WebLinkAbout06140is 1) 0 ORDINANCE NO. 6140 AN ORDINANCE ADOPTING THE 1997 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 Pueblo Memorial Airport; and WHEREAS, the anticipated revenues from this 1997 tax is four million two hundred thousand dollars ($4,200,000) for the year 1997; now therefore, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that: SECTION 1 The following budget for the year 1997 is hereby adopted and the following appropriation for expenditures of anticipated revenues is hereby made: (a) Anticipated Revenues: 1997 Sales Tax Prior Year Reserves Total Revenue (b) Expenditures: Projects to be determined Professional Services Captial Projects R/M Invest Transfer CIF $ 4,200,000 6,200,000 $10,400,000 $10,000,000 100,000 100,000 200,000 Total $10,400,000 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 11 , 1996 BY Samuel Corsentino Councilman APPROVED: resident of Council ATTEST: PA% Ci Clerk