HomeMy WebLinkAbout7451RESOLUTION NO. 7451
A RESOLUTION APPROVING AND AUTHORIZING THE
EXPENDITURE OF $500,000 FROM THE 1992 SALES AND USE
TAX CAPITAL IMPROVEMENT PROJECT FUND FOR THE
REMODELING OF THE 51,500 SQUARE FOOT BUILDING AT
PUEBLO MEMORIAL AIRPORT IN FURTHERANCE OF THE
LAN TECHNOLOGIES, INC. JOB CREATING CAPITAL
IMPROVEMENT PROJECT
WHEREAS, the City Council by Resolution No. 7391 adopted May 23, 1994 approved an
agreement with Lan Technologies, Inc. relating to a job creating capital improvement project and
authorized the expenditure of funds therefor, and
WHEREAS, the City Council by Resolution No. 7397 adopted June 13, 1994 approved an
agreement with Pueblo Development Foundation for the remodeling of the 51,500 square foot
building on 4.80 acres of land at Pueblo Memorial Airport ( "Remodeling Project ") to be leased to
Lan Technologies, Inc. and authorized the expenditure of funds therefor, and
WHEREAS, the Remodeling Project has exceeded its original cost estimates and additional
funds are required to complete the Remodeling Project; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The amount of $500,000 (in addition to the $940,000 authorized and approved by Resolution
No. 7391 adopted May 23, 1994 and the $960,000 authorized by Resolution No. 7397 adopted June
13, 1994) is hereby authorized to be expended and made available out of the 1992 Sales and Use
Tax Capital Improvement Project Fund for the Remodeling Project and shall be released by the
Director of Finance upon receipt of requests for payment as provided in paragraph 1(b) of the June
13, 1994 Agreement between the City and Pueblo Development Foundation.
SECTION 2
The June 13, 1994 agreement between the City and Pueblo Development Foundation and
the May 23, 1994 agreement between the City and Lan Technologies, Inc. shall be modified upon
terms and conditions approved by the City Council after completion of the Remodeling Project to
reflect the changes in the cost of the Remodeling Project.
INTRODUCED: August 22, 1994
By CHARLES JONES
Councilperson
ATTEST: APPROVED:
d-tFCIerk PeoenVof the City Council
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