HomeMy WebLinkAbout7727RESOLUTION NO. 7727
A RESOLUTION AUTHORIZING THE EXPENDITURE OF
ADDITIONAL FUNDS FOR THE CONSTRUCTION OF A
SHELL BUILDING AT PUEBLO MEMORIAL AIRPORT
INDUSTRIAL PARK
WHEREAS, the City Council by Resolution No. 7278 approved an Agreement dated
December 27, 1993 between the City and Pueblo Development Foundation relating to the
construction of a shell building at Pueblo Memorial Airport Industrial Park (the "Building ") and
authorized the transfer of $365,000 therefor, and
WHEREAS, the construction cost of the Building including the installation of a concrete
floor was $415,423, and
WHEREAS, the Building and land upon which it is situated were transferred by the City to
JRC, Limited Liability Company in conjunction with the Hyd -Mech transaction for a job creating
capital improvement project; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
An amount not to exceed $50,423, in addition to the $365,000 previously approved and
transferred by Resolution No. 7278, is hereby authorized to be transferred from Projects To Be
Determined Account of Sales and Use Tax Capital Improvement Fund to the Pueblo Development
Foundation account for the specific purpose of paying the cost of constructing the Building.
SECTION 2
The Agreement dated December 27, 1993 between the City and Pueblo Development
Foundation relating to the construction of the Building is hereby cancelled and City and Pueblo
Development Foundation are hereby released from all future obligations thereunder.
INTRODUCED: October 23, 1995
By Al Gurule
Councilperson
Councilperson
ATTES t.
City Cler
X�, / L L
resident of the City Council
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