HomeMy WebLinkAbout06274ORDINANCE NO. 6274
AN ORDINANCE ADOPTING THE 1998 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 1998 tax is
($4,965,000) for the year 1998; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
SECTION 1
The following budget for the year 1998 is hereby adopted and
the following appropriation for expenditures of anticipated revenues is
hereby made:
(a) Anticipated Revenues:
1997 Sales Tax $ 4,965,000
Prior Year Reserves 5000,000
Total Revenue $ 9,965,000
(b) Expenditures:
Projects to be determined $ 9,490,000
Professional Services 100,000
Capital Projects R/M 100,000
Invest Transfer CIF 275,000
Total $ 9,965,000
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 10 4 11997
BY Charles Jones
Councilman
APPROVED:
& �- -
Pre 'den of Council
ATTEST:
City Clerk