RDA RES 2010-003 RESOLUTION NO. RDA 2010-03
A RESOLUTION OF THE RANCHO PALOS VERDES REDEVELOPMENT
AGENCY, AMENDING RESOLUTION RDA 2009-07, THE BUDGET
APPROPRIATION FOR FY09-10, TO ADJUST THE BUDGET IN THE DEBT
SERVICE AND HOUSING SET-ASIDE FUNDS OF THE REDEVELOPMENT
AGENCY.
WHEREAS, Section 3.32.070 of the Rancho Palos Verdes Municipal Code provides
that all expenditures in excess of budgeted allocations must be by supplemental
appropriation of the Board of the Rancho Palos Verdes Redevelopment Agency; and
WHEREAS, on June 30, 2009, the Agency Board adopted Resolution 2009-07,
approving a spending plan and authorizing a budget appropriation for FY09-10; and
WHEREAS, certain FY09-10 revenues and expenditures, as described below, are
expected to exceed the amount budgeted; and
WHEREAS, the Board desires that the FY09-10 budget be adjusted as follows:
Debt Service Fund
#410-2010-311-10-00 Tax Increment Revenue $ 26,000
Housing Set-Aside Fund
#218-4018-311-10-00 Tax Increment Revenue $ 6,500
#218-4018-391-10-00 Transfer from City Affordable Housing $1,766,368
#218-4018-441-73-00 Construction of Affordable Housing $2,426,543
PASSED, APPROVED, AND ADOPTED THE 2nd DAY OF MARCH 2010.
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ATTEST.
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Agency Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, Secretary of the Rancho Palos Verdes Redevelopment Agency,
hereby certify that the above Resolution No. RDA 2010-03 was duly and regularly
passed and adopted by the said Board at regular meeting thereof held on March 2,
2010.
Agency Secretary