HomeMy WebLinkAbout5168RESOLUTION NO.
A RESOLUTION APPROVING AN AGREEMENT
BETWEEN THE CITY OF PUEBLO, A MUNICIPAL
CORPORATION AND THE COUNTY OF PUEBLO
RELATING TO IN LIEU OF TAX PAYMENTS
AND AUTHORIZING THE PRESIDENT OF THE
CITY COUNCIL TO EXECUTE SAME.
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO,
COLORADO that:
SECTION 1.
The Agreement dated June 13, 1983 between the
City of Pueblo and the County of Pueblo relating to
in lieu of tax payments, a copy of which is attached
hereto and incorporated herein, is hereby approved.
The President of the City Council is hereby authorized
and directed to execute the Agreement for and on behalf
of the City and the City Clerk is directed to attest
same and affix the seal of the City thereto.
INTRODUCED June 13 ,1983
By MIKE SALARDINO
COUNCILPERSON
APPROVED:
ATTEST: n A l 6- , TS ,
A I %U/ President of the Counc
ler
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Rl!142 - a O, I.'likl►i�1r'
This Agreement entered into the 13th day of June,
1983 by and between the City of Pueblo, a Municipal
Coporation (herein City) and the County of Pueblo,
Colorado, (herein County), WITNESSETH
WHEREAS, City has submitted an application for
Urban Development Action Grant (UDAG) funds for
construction or expansion of certain qualifying
business or industrial facilities in the County of
Pueblo, and
WHEREAS, eligibility for such grant requires
the City's tax base be increased as a result of business
or industrial expansion through use of UDAG funds, and
WHEREAS, proposed expansion in Pueblo County
outside the corporate limits of City requires for such
purpose an in lieu of tax agreement between the City
and County,
NOW THEREFORE, City and County Agree as follows:
1. If City's application with the Department
of Housing and Urban Development for Urban Development
Action Grant (UDAG) funds is approved, and if the
construction or expansion of qualified business or
industrial facilities are financed by UDAG funds and
constructed within Pueblo County, Colorado but outside
the Corporate limits of City, County will annually pay
to City in lieu of taxes which would have been paid
to City if such facilities were constructed or expanded
within the corporate limits of City, an amount equal
to the increased assessed valuation resulting from the
construction or expansion of facilities financed in
whole or in part by UDAG funds multiplied by City's
then tax levy.
2. City will give written notice to County and
describe therein all projects and facilities for which
UDAG funds will be used for the construction or expansion
of qualified business or industrial facilities within
Pueblo County but outside the corporate limits of City.
Signed at Pueblo, Colorado.
AT ST;.
Q/
ity Clerk
APPROVED AS TO FORM:
City Atto�n
_--
CITY OF PUEBLO, A MUNICIPAL
CORPORATION
By .
President of the Council