RDA RES 2003-002 RESOLUTION NO. RDA 2003-02
A RESOLUTION OF THE RANCHO PALOS VERDES REDEVELOPMENT AGENCY,
AMENDING RESOLUTION RDA 2002-08, THE BUDGET APPROPRIATION FOR
FISCAL YEAR 2002-2003, FOR AN ADDITIONAL BUDGET APPROPRIATION TO THE
AGENCY'S DEBT SERVICE FUND
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 12, 2002, the Agency Board adopted Resolution 2002-08, approving
a spending plan and authorizing a budget appropriation for the 2002-2003 fiscal year; and
WHEREAS, the State of California adopted Chapter 1127, Statutes of 2002 requiring
California Redevelopment Agencies to shift property tax revenues to K-12 schools and
community colleges during FY 2002-2003; and
WHEREAS, FY 2002-2003 pass-thru expenditures, as described below, are expected to
exceed the amount budgeted; and
WHEREAS, the Board desires that the fiscal year 2002-2003 budget appropriation in the
Debt Service fund be increased as follows:
#210-610-92 Pass Thru to Other Agencies $ 19,046
BE IT, THEREFORE, RESOLVED BY THE BOARD OF THE RANCHO PALOS VERDES
REDEVELOPMENT AGENCY:
The following increase be made to the fiscal year 2002-2003 RDA budget:
#210-610-92 Pass Thru to Other Agencies $ 19,046
PASSED, APPROVED, AND ADOPTED THE 4TH DAY + ' RCH V03.
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Attest: Agency C air
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Agency Secretary
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, JO PURCELL, Secretary of the Rancho Palos Verdes Redevelopment Agency, hereby
certify that the above Resolution No. RDA 2003-02 was duly and regularly passed and
adopted by the said Board at regular meeting thereof held on March 4, 2003.
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A gency Secretary