HomeMy WebLinkAbout1991 02_Funds Deposited for Main St. Project_1991.05.21WHEREAS:
The citizens of Owasso have enacted a sales tax extension for the expressed
purpose of providing capital improvements; and
WHEREAS:
There appeared upon the ballot a proposition specifically setting aside
$100,000 for the purpose of Main Street renovation; and
WHEREAS:
The City Council of the City of Owasso has declared that the form and
substance of the Main Street renovation project shall be comprised of the
purchase of certain properties, the removal of structures located on those
properties, and the resale of the vacant land; and
EREAS®
It is the intent of this program to designate the proceeds from the sale of
such vacant land for the continuation of the Main Street Project; and
WHEREAS:
The clarification of the intended use of these proceeds will serve to assure
proper use of these funds in the future.
NOW, THEREFORE BE IT RESOLVED BY THE OWASSO CITY COUNCIL OF
THE CITY OF OWASSO, OKLAHOMA;
THAT: The City Council of the City of Owasso desires to formalize the understood
intent of the reinvestment of such proceeds for the continuation of the
adopted Main Street Project; and,
THAT: All proceeds from the sale of properties purchased with funds from the 1988
Sales Tax/Bond Issue be immediately deposited into a fund specified by the
City Treasurer and the City Attorney.
PPASSED AND APPROVED this 21 st day of May, 1991 -
'---J6 "inil �,ip
ps, Mayor
ST: Z,
ane Buchanan, City Clerk