City of Albuquerque
File #: R-12-22   
Type: Resolution Status: Enacted and Published
File created: 2/6/2012 In control: City Council
Final action: 2/6/2012
Enactment date: 2/27/2012 Enactment #: R-2012-022
Title: F/S Amending The Scope Of The Reserve Within The Sales Tax Refunding Debt Service Fund (405) To Strengthen The City's Commitment To Funding The Paseo Del Norte/I-25 Interchange Improvement Project (Sanchez, Lewis, Winter)
Sponsors: Ken Sanchez, Dan Lewis, Brad Winter
Attachments: 1. R-22.pdf, 2. R-22fs.pdf, 3. R-22fsfinal.pdf, 4. FS R-22Enacted.pdf
Date Action ByActionResultAction Details
2/27/2012 City Clerk Published  Action details
2/23/2012 Mayor Signed by the Mayor  Action details
2/14/2012 City Council Sent to Mayor for Signature  Action details
2/6/2012 City Council SubstitutedPass Action details
2/6/2012 City Council Introduced (Immediate Action Requested)  Action details
2/6/2012 President Immediate Action Requested  Action details
2/6/2012 City Council Do Pass as SubstitutedPass Action details
CITY of ALBUQUERQUE
TWENTIETH COUNCIL
 
 
COUNCIL BILL NO.    F/S R-12-22     ENACTMENT NO.   ______________________
 
SPONSORED BY:  Sanchez, Lewis, Winter
 
 
RESOLUTION
t
F/S Amending The Scope Of The Reserve Within The Sales Tax Refunding Debt Service Fund (405) To Strengthen The City's Commitment To Funding The Paseo Del Norte/I-25 Interchange Improvement Project (Sanchez, Lewis, Winter)
b
AMENDING THE SCOPE OF THE RESERVE WITHIN THE SALES TAX REFUNDING DEBT SERVICE FUND (405) TO STRENGTHEN THE CITY'S COMMITMENT TO FUNDING THE PASEO DEL NORTE/I-25 INTERCHANGE IMPROVEMENT PROJECT.
      WHEREAS, the City Council approved in F/S R-11-204 a transfer of $3 million in recurring revenue to the Sales Tax Refunding Debt Service Fund (405); and
      WHEREAS, R-11-296 (Enactment No. R-2011-115) reserved these funds "pending 2012 State legislative action to be used for a possible City of Albuquerque match" (emphasis added) for the Paseo del Norte/I-25 Interchange project; and
      WHEREAS, the City Council desires to strengthen that reserve language to ensure that the funding will be used for the Paseo del Norte/I-25 Interchange project.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
      Section 1.  That Section 1 of R-11-296, Enactment No. R-2011-115, is hereby amended to read as follows:
      "Section 1.  That three million dollars ($3,000,000) in the Sales Tax Refunding Debt Service Fund (405) is hereby reserved to be used to provide cash or bond funding of $50 million for the Paseo del Norte/I-25 Interchange project."
 
 
 
X:\SHARE\Legislation\Twenty\R-22fsfinal.doc