HomeMy WebLinkAbout7534RESOLUTION NO. 7534
A RESOLUTION ESTABLISHING RESERVE INCREASES WITH
RESPECT TO FISCAL YEAR SPENDING FOR FISCAL YEAR
1994
WHEREAS, Article X, Section 20(2)(e) of the Colorado Constitution
defines "fiscal year spending" to include "reserve increases," and,
WHEREAS, it would be in the best interest of the City to
establish by action of the City Council that any and all 1994 reserve
increases be considered a part of the City's 1994 "fiscal year
spending" and that all year end fund balances be considered as a
"reserve." NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
Any and all 1994 increases to net fund balances shall constitute
and be considered "reserve increases" and therefore a part of 1994
"fiscal year spending" within the meaning of Article X, Section
20 (2) (e) of the Colorado Constitution.
SECTION 2
Any and all 1994 year end fund balances shall constitute and be
considered "reserves" and all subsequent expenditures and transfers
from such "reserves" shall be excluded from "fiscal year spending"
within the meaning of Article X, Section 20(2)(e) of the Colorado
Constitution.
INTRODUCED December 27 1994
BY JOHN CALIFANO
Councilperson
APPROVE
Pr sident f City Council
ATTEST:
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City Clerk