HomeMy WebLinkAbout1997 Resolution No. 075•
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RE SO LUTJO. • l!\O . f/j
SERIES OF 1997
A RESOLUTlO •• FOR THE TRANSFER OF FUN"i, ~ FROM THE GENERAL FUND TO
THE CAPITAL P!ROJECTS FUND AND THE Al'i? if'MUATION OF CAPITAL
PR'JJECTS Fl"!NDS FOR THE CITY OF ENGL,1 . .-:ooo ·s SP.ARE OF THE
CINDERELLA CITY SITE COSTS .
WHEREAS, tilae City Council of the City ofEng -"w:,d, Colorado, desires to make ce rtain
additions to the I.Sl97 Annual Budget which ware n ,t .,,c1u• ed in the original 1!197 Budget as
adopted on Nov='bos 1 ,. 1996; and
WHEREAS . tf>e Englewood City Council has supported the redev elopm en~ of the
Cinderella City s= and has agreed to use $1,100 ,000 of City funds for redevelopment; and
WHEREAS , try the pllllllage of this resolution will allow for the transfer and
appropriating of om ds for the City's portion of the Cinderella City site costa;
NOW , THEREFORE , BE rr RESOLVED BY THE CITY COUNC IL OF THE CITY OF
ENGLEWOOD , C OLORADO , THAT:
~-The Ci :ty of Englew ood 1997 Budget is hereby amended lS follows .
GENERAL FUND.
Snu rcc af l''und.!:
Fund B.tlance
Use qf Fi:Inds ;
Transf=!s Out
CAPITAL PROJECTS FUND:
Source ni Funds :
Transfers In
C '-e of ;;-;mds :
Cinderelli City Site Costs
$1,100,000
$1,100,000
$1 ,100,000
$1.100,000
~-11,,e City :'danage r and the Di rector of Financial Servic es are hereby
outhorized to =ke the above changes to t~e 1997 Budget of th e City of Englew ood .
ADOPTI:D A.'iD APPROVED this 7~b day of July, 1997 .
Loucnsh,a .-\. ulis, City Cle rk
I, Lo~criahia A. Ellis , City Clerk f~• City ofEnelewood,
above io • truo copy of Reoolution No\~ Se ries of 1997.
o, hereby certify t ho
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COUNCI L COMMUNICATI ON
Cate Agenda Item Subject
.July , 1997 Transfer of runds from the Gtnaral
10 C i Fund to the Capltal Projects Fund, and
approprlaUon of Capltal Pro jects Funds
fo r the City of Engl
0
~hare of the
Cinderella Citv site costs .
Initiated By I Stall Source
.:r.v 1=11 Ena le'INOod , Flna.ncial Services Oepanment Frank Grvcilewicz. Di rector
<COUNCIL GOAL ANO PRf\/lOUS COUNCIL ACTION
-he c:iuncd approved the 1997 Budget on nnal reading 'Jy approving Ordi nance 60 , 3enes of 1996 on final readi ng
'Ncr,,,,ernber 18, 1996. Ccuncil has supported the redeve opment of the Cinderella City : ite , and has agreed to use $1,100,000
.:,f =:, funds to clean up the !rte and other expenses rr,lated to the redevelopment.
~COMMENDED ACTI ON
stat: ·ecommends the c.-:y Co un ci l approve the attached resolution transfering, and approp riatin g fu nds for the City's portion
.:Jf tN! Cinderena City ct un-up and other redevelopment expenses . The City should rer.oup its portion ot th e costs by
.:::,Hec::ing lncrHsed sa les taxes from the site. The origi na l 1997 Budget did not include this project
-ne sources and uses of these fun ds are:
• GENERAi.FUND :
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$:nl~ Of r:,Jr' .:lS '
.::unc :Oa1 ance
J!5~ ~ =unds:
-~ers 01..t
CAP .:.t. PROJECTS FUN D:
:::,:iut'Of ~f =-:J nc s·
-,ma.rs Jn
.roe of = un gs:
::maerella City Clea n-lip
$1,100,000
$1,100,000
$1 ,100,000
$1 ,100,0 00
-,e -:.ry of Eng l~ood 1~ reau 1red by City Charter to ensure th at expenoitu res -J o no t exceed legally adopted appropnat1ons .
-")I! ~::nea resolution acpropriates funds to ensure tha l the City of Engl ewood complie s with lega l restncti on s govemmg
o=aJ :ud~etmg. No other a ernat ives were 1d ent1fied .
l"l!I.AM~IAL IMPACT -,s s ... --=i:oi emental appro~.rat1on will reduce the Gene ral FunlJ's reserves by Sl.100 COO.
U ST Q.F ATTACHMENT S
;:-=,:,,cs.ea re,olution
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Pnntf'O on Recycled Pa:::e,. ;_~.