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HomeMy WebLinkAbout08144ORDINANCE NO. 8144 AN ORDINANCE BUDGETING AND APPROPRIATING INSURANCE PROCEEDS IN THE AMOUNT OF $80,000 FOR HAIL DAMAGE REPAIRS AND DEPOSITING SAID FUNDS INTO CAPITAL PROJECT NO. CPAN20 — CITY BUILDING REPAIRS and; WHEREAS, in the summer of 2009, the City of Pueblo experience a major hail storm, WHEREAS, said hail storm caused damage to many City buildings; WHEREAS, the City has received proceeds from the insurance company for the costs to repair such damages; BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO. that: Upon receipt, insurance proceeds in the amount of $80,000 shall be transferred into Capital Project No. CPAN20 —CITY BUILDING REPAIRS. INTRODUCED: February 8, 2010 BY: Judy Weaver COUNCILPERSON APPROVED: RESIDENT CF CITY CC) UNCIL ATTESTED BY: GIB' Y CLERK PASSED AND APPROVED: February 22. 2010 Background Paper for Proposed ORDINANCE DATE: FEBRUARY 8, 2010 AGENDA ITEM # R -2 DEPARTMENT: PUBLIC WORKS DIRECTOR — EARL WILKINSON, P.E. TITLE AN ORDINANCE BUDGETING AND APPROPRIATING INSURANCE PROCEEDS IN THE AMOUNT OF $80,000 FOR HAIL DAMAGE REPAIRS AND DEPOSITING SAID FUNDS INTO CAPITAL PROJECT NO. CPAN20 — CITY BUILDING REPAIRS ISSUE Should City Council authorize the use of funds in the amount of $80,000 in insurance proceeds to repair hail damage? Approval of this Ordinance. BACKGROUND In the summer of 2009, a large portion of the City of Pueblo received damage attributable to a major hail storm. Due to the storm, several City buildings received damage to rooftops, windows, screens, and skylights. Resolution of the City's insurance claim provides for payment by the insurance company for repair of the damages. FINANCIAL IMPACT Funds in the amount of $80,000 will be deposited into CPAN20 — City Building Repairs and will be used to repair the hail damage.