09/23/2008 Resolutions 2008-271RESOLUTION 2008-271
WHEREAS, Business Improvement District No. 5 was created in May, 2003, by
Ordinance No. 8812; and
WHEREAS, such district was created for the purpose of making improvements to the
downtown area; and
WHEREAS, Business Improvement District No. 5 will expire at the end of the 2007-
2008 budget year; and
WHEREAS, all improvements associated with such district have been completed; and
WHEREAS, it is anticipated that as of September 30, 2008, a balance of
approximately $7,500 will be remaining from Business Improvement District No. 5 operations; and
WHEREAS, it is recommended that such balance be transferred to Business
Improvement District No. 8, which encompasses the same general area as Business Improvement
District No. 5.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCII. OF
THE CITY OF GRAND ISLAND, NEBRASKA, that all funds remaining in Business Improvement
District No. 5 as of September 30, 2008, and any future payments received from Business
Improvement District No. 5 assessments shall be transferred to Business Improvement District No. 8.
Adopted by the City Council of the City of Grand Island, Nebraska, September 23, 2008.
Margare Hornady, Mayor
Attest:
_~~osz Z~.L~as~
RaNae Edwards, City Clerk
Approved as to Form ~ ~-
September 23, 2008 ~ City Attorney