HomeMy WebLinkAbout6416RESOLUTION NO. 6416
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS TO THE URBAN
RENEWAL AUTHORITY OF PUEBLO, COLORADO FOR THE PURPOSE OF
EXTENDING THE URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO
TAX INCREMENT REVENUE BONDS
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1_
Pursuant to the Authority of §531 -25 -105 and 112 and the
Cooperation Agreement dated August 25, 1986 between the Urban Renewal
Authority of Pueblo, Colorado, (the "Authority ") and the City of
Pueblo, a municipal corporation, (the "City ") relating to the Phase
One Urban Renewal Project of the Downtown Pueblo Amended Urban
Renewal Plan, the City Council of the City does hereby authorize
the transfer of an amount not to exceed $48,000 from the Urban
Renewal /Hotel Account No. 64 -6072 to the Authority to be used solely
for the purpose of extending the Authority's Tax Increment Revenue
Bonds (the "Bonds ") for a period of two (2) years.
RFC'TTnN 9
The amounts transfered to the Authority pursuant to this
Resolution shall be repaid by the Authority to the City out of
either the proceeds of the Bonds or property taxes received by the
Authority under X31 -25- 107(9) C.R.S.
INTRODUCED: July 24, 1989
By MICHAEL OCCHIATO
Councilman
ATTEST:
i
4 CitClerk
APPROVED:
President of the City Council