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File #: 19-473    Version: 1 Name:
Type: Resolution Status: Mayor's Office
File created: 8/2/2019 In control: City Council
On agenda: 11/26/2019 Final action: 12/5/2019
Title: A Resolution Summarizing Expenditures and Revenues, Adopting a Budget, and Appropriating Funds for the Colorado Springs Marketplace at Austin Bluffs General Improvement District, Colorado Springs, Colorado, for the Calendar Year Beginning on the First Day of January 2020 and Ending on the Last Day of December 2020 Presenter: Charae McDaniel, Chief Financial Officer
Attachments: 1. MAB GID 2020 Budget, 2. 02_Res to Adopt Budget for MAB GID_11 26 19, 3. Signed Resolution 147-19.pdf

 

 

Title

A Resolution Summarizing Expenditures and Revenues, Adopting a Budget, and Appropriating Funds for the Colorado Springs Marketplace at Austin Bluffs General Improvement District, Colorado Springs, Colorado, for the Calendar Year Beginning on the First Day of January 2020 and Ending on the Last Day of December 2020

 

  Presenter: 

Charae McDaniel, Chief Financial Officer

 

Body

  Summary:

Following the Public Hearing on November 26, 2019, the attached resolution is now presented for approval by City Council, sitting as the Board of Directors of the Colorado Springs Marketplace at Austin Bluffs General Improvement District (GID), to adopt its budget and appropriate the funding for the 2020 calendar year.

 

  Previous Council Action: 

Council created this GID in 2006 (Ordinance No. 06-138), and, as its Board, approved issuance of $2,790,000 in bonds in 2008 (Ordinance No. 08-175).  The Board annually sets and certifies the mill levy, and then adopts the budget and appropriates the funding for the District.

 

  Background:

City Council sits as the Board of Directors for each of the General Improvement Districts and is required to conduct a public hearing, set and certify the mill levy, adopt an annual budget, and appropriate the funding for the District.

 

  Financial Implications:

Since the Colorado Springs Marketplace at Austin Bluffs GID is a separate entity, and its indebtedness is not an obligation of the City, there are no direct financial implications for the City of Colorado Springs.

 

  Board/Commission Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

 

Recommended Action

  Proposed Motion:

Move to approve the attached resolution to adopt the 2020 budget and appropriate the funding for the 2020 budget year for the Colorado Springs Marketplace at Austin Bluffs General Improvement District.

 

Summary of Ordinance Language

N/A

 




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