RESOLUTION: LRA 2005-6

SUBJECT: A resolution authorizing the Lakewood Reinvestment Authority to adopt the 2006 Annual Budget.

RECOMMENDATION: Approval

SUMMARY AND BACKGROUND OF SUBJECT MATTER: The resolution as submitted identifies all available financial sources, authorized financial uses, and ending Fund balances for the Annual Budget for the year 2004, as well as authorized budget revisions for the year 2005.

RESOLUTION ADOPTION DATE: September 26, 2005

ORIGINATED BY: Rebecca P. Clark, LRA Director

STAFF PERSON RESPONSIBLE: Rebecca P. Clark, LRA Director, 303-987-7525

DOCUMENTS ATTACHED: Resolution LRA 2005-6

NOTE: The 2006 Budget document is on file in the Community Planning & Development Department and the City Clerk's Office.

SUBMITTED BY:
Rebecca P. Clark, LRA Director

REVIEWED BY:
Michael J. Rock, Executive Director

LRA 2005-6

A RESOLUTION

AUTHORIZING A REVISED BUDGET FOR THE YEAR 2005 FOR THE LAKEWOOD REINVESTMENT AUTHORITY AND FURTHER ADOPTING THE ANNUAL BUDGET FOR THE LAKEWOOD REINVESTMENT AUTHORITY FOR THE FISCAL YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2006, AND ENDING ON DECEMBER 31, 2006, ESTIMATING THE AMOUNT OF MONEY TO BE DERIVED FROM TAX INCREMENT FINANCING AND SETTING FORTH THE APPROPRIATIONS FOR EACH FUND

WHEREAS, the Lakewood Reinvestment Authority, upon notice duly advertised, held a Public Hearing on said budget on September 26, 2005, pursuant to the Colorado State Statute.

NOW, THEREFORE, BE IT RESOLVED by the Lakewood Reinvestment Authority of the City of Lakewood, Colorado, that:

SECTION 1. There is hereby appropriated from the revenue derived from tax increment financing during the years 2005 and 2006, the amounts hereinafter set forth in the attached 2006 Budget.

SECTION 2. Pursuant to the Colorado State Statute, both the revised budget for the year 2005, and the budget for the Lakewood Reinvestment Authority, for the fiscal year beginning January 1, 2006, and ending December 31, 2006, as heretofore proposed to the Lakewood Reinvestment Authority, and the same are hereby approved as the Revised 2005/2006 Annual Budget.

SECTION 3. The budget herein approved shall be signed by the Chair and Executive Director and made part of the public records of the Lakewood Reinvestment Authority.

INTRODUCED, READ AND ADOPTED by a vote of 8 for and 0 against at a regular meeting of the Board of Commissioners of the Lakewood Reinvestment Authority on September 26, 2005, at 10:40 p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Stephen A. Burkholder, Chair

ATTEST:
Michael J. Rock, Executive Director

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