HomeMy WebLinkAboutRES 2005-61RESOLUTION 2005-61-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND BAR
AUTHORIZING, APPROPRIATING, AND APPROVING THE SALE OF
$300,000 OF PROPOSITION A FUNDS (LOCAL RETURN TRANSIT
FUNDS) TO THE CITY OF COMMERCE FOR GENERAL FUNDS
WHEREAS, the City of Diamond Bar wishes to transfer $300,000 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 $225,000 in General
Funds to the City of Diamond Bar; 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 meeting the general public's needs and other City expenses.
NOW, THEREFORE, the City Council of the City of Diamond Bar does hereby
resolve as follows:
SECTION 1. The exchange of $300,000 of Proposition A Local Return Funds in
exchange for the assignment of $2?5,000 in General Funds 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.
2005--61
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 6th day of December, 2005.
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ATTEST: /Clerk—:�n Linda C. ryo , City
I, LINDA C. LOWRY, 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 Ilheld on the 6th day of December, 2005, by the
following vote:
AYES: COUNCIL MEMBERS: M/Herrera, MPT/Zirbes, C/Chang,
C/Tanaka, C/Tye
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAINED: COUNCIL MEMBERS: None