HomeMy WebLinkAboutRES 2004-44RESOLUTION 2004-44
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND BAR
APPROVING THE SALE OF $400,000 OF PROPOSITION A FUNDS
(LOCAL RETURN TRANSIT FUNDS) TO THE CITY OF INDUSTRY FOR
GENERAL FUNDS.
WHEREAS, the City of Diamond Bar wishes to transfer $400,000 of its
uncommitted Proposition A Local Return Transit Funds to the City of Industry to provide
for public transit purposes 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 Industry has offered to assign $300,000 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 $400,000 of Proposition A Local Return Funds in
exchange for the assignment of $31; 0,000 in General Funds is authorized and
approved.
SECTION 2. The Mayor is zuthorized to execute, on behalf of the City, any
required documents to effeci:iate thl-, exchanao of funds.
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SECTION 3. The City Clerk shall certify to the adoption of this Resolution and
send certified copies to the City of Industry.
The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 3rd day of August, 2004.
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•,•/�:Mayor
ATTEST:
Linda C.16wry, City Clerk
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 held on the 3`d day of August, 2004, by the
following vote:
AYES: COUNCIL MEMBERS: Chang, Huff, O'Connor
MPT/Herrera, M/Zirbes
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAINED: COUNCIL MEMBERS: None
t!NCA C. l OWRY, -,kV Clerk
amity of Dia,m:.ond Bar
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