HomeMy WebLinkAboutResolution - 3869 - Reallocation Of Funds - Hotel & Motel Tax Revenue - Improvements, Civic Center - 04_23_1992Resolution No. 3869
April 23, 1992
Item # 19
RESOLUTION
WHEREAS, the present debt service payments for Civic Center
improvements will be completed in fiscal year 1993-94; and
WHEREAS, the Civic Centers Board of the City of Lubbock has
recommended that the excess portion of the hotel/motel tax revenue
allocated for debt service, which is not necessary to retire the debt
service, be reallocated for Civic Center improvements; and
WHEREAS, the Civic Center continues to provide for the entertainment
needs of the citizens of Lubbock through events and activities which
promote culture and improve the qualify of life; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the hotel/motel tax revenue currently devoted to debt service
which exceeds the amount necessary to retire such debt service shall hereby
be reallocated for Civic Center improvements.
Passed by the City Council this 23rd
ATTEST:
aneme
ecretar
APPROVED AS TO CONTENT:
Rita Harmon, Assistant City Manager
for Public Safety and Services
APPROVED AS TO FORM:
Linda L. C ama es, Assistant City
Attorney
LLC: d a/AGENDA-D 1 /C i V ICC NT. res
day of April , 1992.
r
/F /// ./�el