HomeMy WebLinkAboutRES 2016-31RESOLUTION 2016- 31
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
DIAMOND BAR AUTHORIZING AND APPROVING THE SALE OF
$600,000 OF PROPOSITION A FUNDS (LOCAL RETURN TRANSIT
FUNDS) TO THE CITY OF RANCHO PALOS VERDES
WHEREAS, the City of Diamond Bar wishes to transfer $600,000 of its
uncommitted Proposition A Local Return Transit Funds to the City of Rancho
Palos Verdes 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 Rancho Palos Verdes has offered to assign
$450,000 in General Funds to be deposited into the City of Diamond Bar's
General 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;
NOW, THEREFORE, the City Council of the City of Diamond Bar does
hereby resolve as follows:
SECTION 1. The exchange of $600,000 of Proposition A Local Return
Funds in exchange for the assignment of $450,000 in General Funds to be
deposited into the General 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.
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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 Rancho Palos Verdes.
PASSED, APPROVED AND ADOPTED this 16th day of August 2016.
NencA. Lyon ayor
A�''ST:
�l9Mr—
To ymm A. 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 16th day of
August 2016, by the following vote:
AYES: COUNCIL MEMBERS: Low, Tye, MPT/Lin, M/Lyons
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Herrera
ABSTAINED: COUNCIL MEMBERS: None
T MM E A. CRIBBINS, City Clerk
City of Diamond Bar
2016-31