IA RES 1998-006RESOLUTION NO. IA 98 -06
A RESOLUTION OF THE RANCHO PALOS VERDES JOINT POWERS
IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET
FOR FISCAL YEAR 1998 -99
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers Improvement
Authority desires to adopt the following resolution adopting the operating budget for the
1998 -99 fiscal year.
NOW, THEREFORE, BE IT RESOLVED, THAT THE COMMISSION OF THE RANCHO
PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES HEREBY
ADOPT THE FOLLOWING 1998 -99 OPERATING BUDGET WHICH IS HEREBY
ATTACHED AS EXHIBIT A, AND MADE A PART THEREOF.
SECTION 1: The 1998 -99 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
1998 -99
PROGRAM ADOPTED BUDGET
Maintenance - Portuguese Bend $ 751200
Maintenance - Abalone Cove 721500
TOTAL REVENUES $ 1471700
SECTION 2: An operating budget for Fiscal Year 1998 -99 is hereby adopted as
contained in the Annual Budget of the Rancho Palos Verdes Joint Powers Improvement
Authority attached hereto and incorporated and referenced as part of this resolution. The
following expenditure levels are hereby established:
1998 -99
PROGRAM ADOPTED BUDGET
Maintenance - Portuguese Bend $ 751200
Maintenance - Abalone Cove 1051600
TOTAL OPERATING EXPENDITURES $ 1801800
SECTION 2: Upon adoption of said Budget, the Authority may revise and /or update
said Budget in part or in its entirety, depending on the Authority's fiscal resources,
circumstances, and needs.
SECTION 3: The Chief Administrative Officer of the Rancho Palos Verdes Joint
Powers Improvement Authority shall be responsible for administration and execution of
said Budget.
PASSED, APPROVED, AND ADOPTED THE 3RD DAY OF JUNE, 1998.
AUTHORITY CHAIRPERSON
ATTEST:
A; SECRETARY
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, JO PURCELL, Authority Secretary of the Rancho Palos Verdes Joint Powers
Improvement Authority, hereby certify that the above Resolution No. IA 98 -06 was duly and
regularly passed and adopted by the said Joint Powers Improvement Authority at regular
meeting thereof held on June 3, 1998.
A HORITY SECRETARY
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