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RESOlUTION NO. 58
SERIES 1996
VI"
A RESOLUTION APPROVING PROJECTS AND EXPENDITURES TO BE FUNDED WITH
REVENUES DERIVED FROM THE COUNTY-WIDE ONE-HALF CENT USE TAX FOR
TRANSPORTATION PURPOSES
WHEREAS, the Pitkin County Board of Commissioners, Aspen City Council and the
Town Council of Snowmass Village have previously adopted an Intergovernmental
Agreement adopting the Comprehensive Valley Transportation Plan; and,
WHEREAS, the previous joint resolutions have identified general elements of :the
Comprehensive Valley Transportation Plan which are eligible for funding; and,
WHEREAS, the Intergovernmental Agreement specifies that all expenditures and
projects to be funded from the County-wide one-half cent use tax shall be agreed upon by all
three parties and verified by a resolution adopted by each party. The one-half cent use tax is
specifically dedicated to the purchase of the Denver & Rio Grande Railroad right-of-way;
and,
WHEREAS, Pitkin County estimates that, at the low end, remaining one-half cent 'use
tax moneys to date are $502,817.83, and projected 1996 third and fourth-quarter one-half
cent use tax revenues are $135,000.00, for a total available revenue base of $637,817.83'.
WHEREAS, all parties wish to comply with the provisions of the Intergovernmental
Agreement adopted in 1993 concerning the Comprehensive Valley Transportation Plan.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Aspen, Colorado, ~hat
these following projects are approved to be funded through the one-half cent use tax for'the
purchase of the Denver & Rio Grande Railroad Right-of-way as follows:
1.
Upper-Valley Share of Earnest Money
$ 280,000
TOTAL
$ 280,000
NOW, THEREFORE, BE IT FURTHER RESOLVED that the City Council of Aspen,
Colorado, that it authorizes staff to use the avai lable revenue base of the half-cent use tax to
fully fund the $500,000 earnest money payment required immediately for the purchase of
the right-of-way with the knowledge that the other governments participating in the purchase
will reimburse the County for their share of the earnest money payment based on the cost
sharing formula within the Intergovernmental Agreement (see Exhibit UAU),
INTRODUCED, APPROVED AND ADOPTED by the City Council for the City of Aspen,
Colorado, on thelS day of O~1996.
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John S. Bennett, Mayor
I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoing
is a true and accurate copy of that resolution adopted by the City Council of the City of
Aspen, Colorado, at a meeting held ~ 1.s;-1996.
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Kathyrn S. och, City Clerk
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EXHillIT "A"
Formula to Split Earnest Money Participation
~ Amount
Aspen 23% $ 115,000
Snowmass Village 13% $ 65,000
Pitkin County 20% $ 100,000
Basalt 1% $ 5,000
Eagle County 6% $ 30,000
Carbondale 4% $ 20,000
e Glenwood Springs 16% $ 80,000
Garfield County 17% $ 85,000
TOTAL 100% $ 500,000
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