HomeMy WebLinkAboutRES 2007-32RESOLUTION 2007- 32
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND BAR
AUTHORIZING, APPROPRIATING, AND APPROVING THE SALE OF
$500,000 OF PROPOSITION A FUNDS (LOCAL RETURN TRANSIT
FUNDS) TO THE CITY OF COMMERCE FOR GENERAL FUNDS TO BE
DEPOSITED INTO THE TRAFFIC IMPROVEMENT FUND
WHEREAS, the City of Diamond Bar wishes to transfer $500,000 of its
uncommitted Proposition A Local Return Transit Funds to the City of Commerce to
provide: ongoing operating funding and to improve the level, quality, safety, and/or
accessibility of transit services to the general public or to any group which requires
special transportation assistance; and
WHEREAS, the City of Commerce has offered to assign $382,500 in General
Funds to be deposited into the City of Diamond Bar's Traffic Improvement Fund; and
WHEREAS, the City Council of the City of Diamond Bar has determined that the
transit needs of the City can be adequately met if this fund exchange is approved; and
WHEREAS, the City of Diamond Bar plans to expend these funds to augment
the City's capabilities in providing traffic related improvements.
NOW, THEREFORE, the City Council of the City of Diamond Bar does hereby
resolve as follows:
,SECTION 1. The exchange of $500,000 of Proposition A Local Return Funds in
exchange for the assignment of $382,500 in General Funds to be deposited into the
Traffic Ilmprovement Fund is authorized and approved.
SECTION 2. The City Manager is authorized to execute, on behalf of the City,
any required documents to effectuate this exchange of funds.
2007-32
SECTION 3. The City Clerk shall certify to the adoption of this Resolution and
send certified copies to the City of Commerce.
PASSED, APPROVED AND ADOPTED this l..5 day of May, 2007.
i
Ma r
ATE
Tommye Cribbins, City Clerk
I, TOMMYE CRIBBINS, City Clerk of the City of Diamond Bar, do hereby certify that the
foregoing Resolution was passed, approved and adopted at a regular meeting of the
City Council of the City of Diamond Bar held on the 15th day of May, 2007, by the
following vote:
AYES: COUNCIL MEMBERS: Chang, Everett, ilerrere.,
ice.&T/Tanak6, M ✓Tye
NOES: COUNCIL MEMBERS: 1401=f=
ABSENT: COUNCIL MEMBERS: i+:one
ABSTAINED: COUNCIL MEMBERS: xone
TOMM CRIBBINS, City Clerk
City of Diamond Bar
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