City Council Minutes 2005 04 05 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes April 5, 2005 Page 8 of 12 Mayor Sisk requested a Staff presentation. Finance Director Patty Leslie explained Resolution No. 12, Series 2005 authorizes a supplemental appropriation to the 2005 budget for additional expenditures related to the construction of the new library. She summarized the change for each of the funds: Fund 2005 Appropriation Addition 2005 Amended Appropriation Library Capital Canst. Fund $7,001,327 $1,856,000 $8,857,327 Library Debt Ser. $ 511 ,434 $ 0 $ 511 ,434 Total Appropriations $7,512,761 $1,856,000 $9,368,761 The additional $1.6 million dollars in appropriations will be covered equally by inter-fund loans from the Capital Projects and Fleet Management Funds. The loans will be repaid upon the closing of the sale of the library building at 950 Spruce Street. The remaining $106,000 appropriation is carried forward from the encumbered 2004 budget of expenditures. The interest revenue received from investment of the loans proceeds over the next two years will cover the remaining $150,000. Mayor Sisk requested public comment. There were no comments. MOTION: Council member Van Pelt moved for Council approval of Resolution No. 12, Series 2005, seconded by Council member Levihn. Roll call vote was taken. The motion carried by a vote of 7-0. ORDINANCE No. 1464, SERIES 2005 - AN ORDINANCE OF THE CITY OF LOUISVILLE, BOULDER COUNTY, COLORADO, GRANTING A NON- EXCLUSIVE FRANCHISE TO PUBLIC SERVICE COMPANY OF COLORADO, ITS AFFILIATES, SUCCESSORS AND ASSIGNS, OF THE RIGHT TO USE THE STREETS WITHIN THE CITY TO FURNISH, SELL, TRANSMIT, TRANSPORT AND DISTRIBUTE GAS AND ELECTRICITY TO THE CITY AND TO ALL RESIDENTS OF THE CITY, GRANTING THE RIGHT TO ACQUIRE, CONSTRUCT, INSTALL, LOCATE, MAINTAIN, OPERATE AND EXTEND INTO, WITHIN AND THROUGH THE CITY ALL FACILITIES REASONABLY NECESSARY TO FURNISH, SELL, TRANSMIT, TRANSPORT AND DISTRIBUTE GAS AND ELECTRICITY WITHIN AND THROUGH THE CITY, AND GRANTING THE RIGHT TO PROVIDE STREET LIGHTING SERVICE TO THE CITY; AND FIXING THE TERMS AND CONDITIONS THEREOF - 1st reading - set public hearing 4/19/05 Mayor Sisk requested a City Attorney introduction.