HomeMy WebLinkAboutresolution.council.010-04RESOLUTION NO.
SERIES OF 2004
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
APPROVING THE 2004 EOTC BUDGET FOR THE PITKIN COUNTY 1/2 CENT TRANSIT
SALES AND USE TAX
WHEREAS, the Aspen City Council, the Pitkin County Board of County Commissioners
and the Town Council of Snowmass Village (the "Parties") have previously identified general
elements of their Comprehensive Valley Transportation Plan (the "Plan") which are eligible for
funding from the Pitkin County one-half cent transit sales and use tax; and
WHEREAS, by intergovernmental agreement dated September 14, 1993, the Parties agreed:
a. to conduct regular public meetings to continue to refine and agree upon
proposed projects and transportation elements consistent with or complimentary to
the Plan; and
b. that all expenditures and projects to 'be funded from the County-wide one-
half cent transit sales and use tax shall be agreed upon by the Parties and evidenced
by a resolution adopted by the governing body of each party; and
WHEREAS, at a public meeting held on January 15, 2004, the Parties considered and
approved the attached initial budget for the year 2004 for the Pitkin County one-half cent transit
sales and use tax; and
WHEREAS, the City of Aspen wishes to ratify the approval given at the January 15th
meeting by adoption of this resolution.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Aspen,
Colorado, that the attached initial one-half cent transit sales and use tax budget for the year 2004 is
· hereby approved as summarized below:
Total Revenues
Total Expenditures
$3,591,850
$4,715,672
RESOLVED, APPROVED, AND ADOPTED this ? day of~
the City Council for the City of Aspen, Colorado.
2004, by
!, Kathryn S. Koch, duly apPointed and acting City Clerk, do certify that the foregoing is a
true and adcUrate copy of that resolution adopted by the City
Colorado, at a r~ee;dng held ~~~. ~/~?.tg~z--/ Council of the City of Aspen,
Kathryn S. Koch, City Clerk
2004 Initial Budget
EOTC Transit Project Funding
EOTC SOURCES:
a) Pitkin County 1/2% sales tax 2,880,850
b) Pitkin County 1/2% use tax 455,000
c) Grants
d) Investment income & misc. 256,000
e) Reimbursement of expenditures
Total EOTC Sources
3,591,8_50
EOTC USES:
1) RTA contribution (48.04% of 1/2% sales tax beginning 2001)
2) Use tax collection costs
3) Project design, mgmt, & admin
4) Bus stop safety [mprvs / cab ride in-lieu
5) Federal funding consultant
6) RFTA operating shortfall
7) RFTA capital contributions:
- 4 hybrid-electric buses 1,200,000
8) X-Games transit subsidy 20,000
9) Garfield County regional traffic pattern study 30,000
10) Maroon Creek Bridge engineering 1,500,000
11) Brush Creek Parking Design 160,000
Total EOTC Uses
1,383,960
67,360
39,352
17,000
60,000
238,000
4,715,672
EOTC ANNUAL SURPLUS/(DEFIClT) (1,123,822)
EOTC CUMULATIVE SURPLUS/(DEFICIT) 11,644,475
02/03/2004 2004 budget.xls
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