HomeMy WebLinkAboutResolution-2006-0004
RESOLUTION 04
Series of 2006
TITLE:
A RESOLUTION AMENDING THE FISCAL YEAR
2005 GENERAL FUND BUDGET TO REFLECT
THE APPROVAL OF A SUPPLEMENTAL
BUDGET APPROPRIATION FOR THE ANNUAL
SALES TAX INCENTIVE PAYMENT TO THE
WHEAT RIDGE URBAN RENEWAL AUTHORITY
(WRURA) IN THE AMOUNT OF $40,000.00
WHEREAS, $60.000 was lIlcluded 111 the adopted 2005 Budget for the sales tax
mcentlve payment to WRURA based on the City's 2 percent sales and use tax rate: and
WHEREAS, the City of Wheat Ridge sales and use tax rate lIlcreased from 2
percent to 3 percent effective January I, 2005; and
WHEREAS, Resolution No 1559-1996 set the maximum sales tax lIlcrement to
be utilized by WRURA at $100,000 00; and
WHEREAS, sales tax increment revenue exceeded the budgeted amount by
$40,000 00 up to the cap of $1 00,000 00;
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Wheat Ridge, Colorado, as follows:
A. The City of Wheat Ridge fiscal year 2005 General Fund Budget be
amended accordingly, specifically transfernng a total of $40,00000 from
General Fund unreserved fund balance lIlto account #0 I-I 05-700-720
DONE AND RESOLVED THIS ....l11h day of February 2006.
,I
. ,
,V \_ r ..... I,
Jerry DUullio, Mayor
ATTEST:
(~n.nL ..
ill Anderson, CIty Clerk