CC RES 1999-034 RESOLUTION NO. 99- 34
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
RANCHO PALOS VERDES AMENDING RESOLUTION NO.
98-47, THE BUDGET APPROPRIATION FOR FISCAL YEAR
1998-99, FOR A BUDGET ADJUSTMENT TO THE CITY'S
CAPITAL PROJECTS AND PROPOSITION C FUND
WHEREAS, Section 3.32 of the City of Rancho Palos Verdes Municipal Code
provides that all expenditures in excess of budgeted allocations must by supplemental
appropriation of the City Council; and
WHEREAS, on June 3, 1998, the City of the Rancho Palos Verdes adopted
resolution 98-47, approving a spending plan and authorizing a budget appropriation for
the 1998-99 fiscal year; and
WHEREAS, it is advantageous to the City to allocate additional funds to
construct the street improvements Federal project STPL-5413 (002) and City project
9720 (Palos Verdes Drive East - Colt to Ganado (9720 &21) and Montemalaga - Silver
Spur to the West City limit (9722));and
WHEREAS, an increase in the Capital Projects Fund is necessary to authorize
the expenditure of additional funds for the project.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES:
That the following adjustment be made to the following fund budgets:
1. Increase budgeted grant revenue in the City's Capital Improvement Project fund
account (330-364.10) by $346,295 to include anticipated revenues from Federal
STP (ISTEA) funds of$373,000.
2. Increase the Proposition C fund balance as a result of doing a prior period
adjustment.
3. Increase professional/technical services in the City's Capital Improvement
Project fund account (330-930-560-00-35) by $26,705.
PASSED, APPROVED, AND ADOPTED THE 18TH DAY OF MAY, 1999.
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MAYOR f
ATTEST:
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410) / At _
I CLERK
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, JO PURCELL, City Clerk of the City of Rancho Palos Verdes, hereby certify
that the above Resolution No. 99-34 was duly and regularly passed and adopted by the
said City Council at a regular meeting thereof held on May 18, 1999.
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C CLERK
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