RESOLUTION NO. 70–02

 

AMENDING RESOLUTION NO. 37-02 THAT STATED THE CITY OF

GRAND JUNCTION’S FUND COMMITMENT FOR GRAND VALLEY

TRANSIT SERVICES FOR FISCAL YEARS 2002-2005

 

Recitals.

 

In Resolution No. 37-02 the City of Grand Junction adopted a formula for future funding for the Grand Valley Transit services that was different from that earlier adopted by Fruita and Palisade. After further review, the municipalities of Fruita and Palisade have concluded that they prefer the formula adopted by Grand Junction. The City Council hereby acknowledges such action by Fruita and Palisade.

 

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION: That this City presently intends to provide funding to Mesa County for expenditure by the Grand Valley Transit System, as shown. Grand Junction acknowledges the local matches contemplated by the other listed governments.

 

 

Expected Funding

 

FY 2002

 

FY 2003

 

FY 2004

 

FY 2005

 

Mesa County

 

$635,944

 

$652,920

 

$672,628

 

$699,533

 

Grand Junction*

 

200,809

 

208,841

 

217,195

 

255,833

 

Fruita

 

30,961

 

32,199

 

33,487

 

34,826

 

Palisade

 

12,321

 

12,814

 

13,327

 

13,860

 

Total Local Contributions

 

$880,035

 

$906,774

 

$936,637

 

$974,102

 

*Exception: The expected amount may be less if the growth for Grand Junction (calculated by adding Consumer Price Index and Local Growth) is less than 4% per annum. In such case the City’s expected contribution will be based only on the rate of growth of Grand Junction.

 

           GRAND JUNCTION CITY COUNCIL

 

 

           By:/s/: Cindy Enos-Martinez

          Cindy Enos-Martinez, Mayor

ATTEST:

 

/s/: Stephanie Tuin

Grand Junction City Clerk