01-0852R

RESOLUTION APPROVING THE FISCAL YEAR JANUARY 1, 2002, TO DECEMBER 31, 2002, BUDGET OF THE DULUTH AIRPORT AUTHORITY.

BY COUNCILOR HOGG:

        RESOLVED, that the operating budget for the fiscal year January 1, 2002, to December 31, 2002, in the amount of $2,758,114 for the Duluth airport authority is hereby approved.

        FURTHER RESOLVED, that the authority included in the resolution shall submit to the city council its proposed budget in a prescribed format on or before November 1 of each year.



STATEMENT OF PURPOSE: This resolution adopts the 2002 operating budget for the Duluth airport authority. The finance committee reviewed the Duluth airport authority budget at its November 15, 2001, meeting. The 2002 budget represents an increase of $190,761 or 7.43% over the 2001 budget. Airport authority revenues fund the proposed budget without any property tax levy support from the city of Duluth.