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HomeMy WebLinkAbout06373ORDINANCE NO. 6373 AN ORDINANCE ADOPTING THE 1999 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 1999 tax is ($5,214,000) for the year 1999; now therefore, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that: SECTION 1 The following budget for the year 1999 is hereby adopted and the following appropriation for expenditures of anticipated revenues is hereby made: (a) Anticipated Revenues: 1997 Sales Tax $ 5,214,000 Prior Year Reserves 10.300.000 Total Revenue $15,514,000 (b) Expenditures: Projects to be determined $14,764,000 Professional Services 100,000 Capital Projects R/M 100,000 Invest Transfer CIF 550.000 Total $15,514,000 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 9. 1998 BY: Corinne Koehler Councilperson APPROVED: President o e C iduncil ATTEST: