CC RES 2007-095 RESOLUTION NO. 2007- 95
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES, AMENDING RESOLUTION 2007-70, THE BUDGET APPROPRIATION
FOR FISCAL YEAR 2007-08, FOR A BUDGET ADJUSTMENT TO THE CITY'S STREET
IMPROVEMENT PROGRAM WITHIN THE GENERAL FUND.
WHEREAS, Section 3.32 of the Rancho Palos Verdes Municipal Code provides that all expenditures in
excess of budgeted allocations must be by supplemental appropriation of the City Council; and
WHEREAS, on June 19, 2007, the City Council of the City of Rancho Palos Verdes adopted Resolution
2007-70, approving a spending plan and authorizing a budget appropriation for the 2007-08 fiscal year;
and
WHEREAS, it is necessary for the City to allocate additional funds to upgrade Traffic Signals on
Crenshaw Blvd at Crestridge Road intersection, for a total cost of$236,000 in advance, so that at the
completion of the project a 90% reimbursement through a grant in the amount of$212,400 approved by
the State Highway Safety Improvement Program will be realized; and
WHEREAS, a budget increase in the Traffic Management Program is necessary to authorize the
expenditure of additional funds to cover the required costs in the amount of$236,000 for installation of
phased traffic signals on Crenshaw Blvd. at the intersection of Ridgecrest Road.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES:
The following adjustment(s) be made to the following fund(s):
General fund:
Transfers Out 101-6000-491-91-00 To CIP$ 23,600
Capital Improvement Projects (CIP)fund:
Street Imp. 330-3031-334-10 State Grant Revenue $212,400
Street Imp. 330-3031-391-10 Transfers In $ 23,600
Street Imp. 330-3031-461-73 $236,000
PASSED, APPROVED, AND ADOPTED on September 4, 2007.
Mayor
ATTEST:
74/ b
City Clerk
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, hereby certify that the above
Resolution No. 2007- 95 was duly and regularly passed and adopted by the said City Council at a
regular meeting thereof held on September 4, 2007.
C--2/2
R
City Clerk