HomeMy WebLinkAbout07291ORDINANCE NO. 7291
AN ORDINANCE APPROPRIATING THE FUND BALANCE OF THE 1992 -2006 SALES AND USE
TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR FUTURE JOB CREATING PROJECTS
Whereas, the 1992 -2006 Sales Tax and Use Tax Capital Improvement Projects fund has
accumulated a fund balance of $19,189,622, and
Whereas, it is feasible these funds may be requested for job creating capital improvement
projects in 2005. Now Therefore,
BE IT ORDAINED BY THE CITY OF PUEBLO that:
SECTION 1.
Funds in the amount of $19,189,622 are hereby appropriated from the 1992 -2006 Sales Tax
and Use Tax Capital Improvement Projects Fund to be utilized for future job creating capital
improvement projects and will be budgeted in Project ED9999. Funds in Project ED9999 may be
transferred for job creating capital improvement projects by City Council by Resolution.
SECTION 2.
This Ordinance shall become effective upon final passage of approval.
INTRODUCED April 11, 2005
BY Jeff Chostner
Councilperson
APPROVED:
PRES1DENT 9F CITY CPWCIL
ATTESTED BY:
CITY CLERK
PASSED AND APPROVED April 25, 2005
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Background Paper for Proposed
ORDINANCE
AGENDA ITEM # I I
DATE:
DEPARTMENT
TITLE
APRIL 11, 2005
DEPARTMENT OF FINANCE
ROBERT HAIN, DIRECTOR OF FINANCE
AN ORDINANCE APPROPRIATING THE FUND BALANCE OF THE 1992 -2006 SALES
AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR FUTURE JOB
CREATING PROJECTS
ISSUE
The 1992 -2006 Sales Tax and Use Tax Capital Improvement Projects fund has accumulated
$19,189,622 in fund balance that has not been appropriated. The ordinance will allow future
job creating projects to be approved by Resolution.
RECOMMENDATION
Approval of the ordinance.
FINANCIAL IMPACT
The ordinance appropriates funds that can be utilized for future job creating capital
improvement projects by Resolution. The passage of this ordinance will have no immediate
financial impact and will be budgeted in ED9999.