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HomeMy WebLinkAbout1997 Resolution No. 075• • 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 .... • • • I 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 : • $: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 r-. Pnntf'O on Recycled Pa:::e,. ;_~.