HomeMy WebLinkAboutRES-92-5516 (FUND/PROP A/EXCHANGE/W. HOLLYWOOD)1
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RESOLUTION 92- 5 516
A RESOLUTION OF THE CITY OF HERMOSA BEACH, CALIFORNIA,
AUTHORIZING THE TRANSFER OF $2007000 IN PROPOSITION A TRANSIT
FUNDS IN EXCHANGE FOR $106,000 IN GENERAL FUNDS FROM THE CITY OF
WEST HOLLYWOOD.
WHEREAS, the City has financed all of its current transit programs for
the fiscal year 1991-1992 and made the following findings;
A. The surplus funds to be transferred will be lost if not utilized within
the allocated time.
B. The City of West Hollywood has agreed to exchange $106,000
in General funds for $200,000 in Proposition A Transit funds
from the City of Hermosa Beach;
C The Los Angeles County Transportation Commission has granted
permission for the exchange of funds;
D. The proposed budget for 1991-1992 will not be in balance if this
exchange is not consummated;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Hermosa Beach, California:
1. The City Manager is authorized to execute an agreement with the
City of West Hollywood for the exchange of Proposition A transit
funds, amounting to exactly $200,000 for $106,000 in
General funds from the City of West Hollywood.
2. The City Manager of Hermosa Beach is authorized to execute and file
any other document required by the Los Angeles County
Transportation Commission.
3. The City Manager is authorized to furnish such additional
information as the Los Angeles County Transportation Commission
may require.
PASSED, APPROV D, an O ED this 14 day of January, 1992.
-President of the City Council and Mayor of the City of Hermosa Beach,
California.
ATTEST: _ _ APPR D O FO
City Clerk City Attorney
\%or,
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
CITY OF HERMOSA BEACH )
I, Naoma Valdes, Deputy City Clerk of the City
Council of the City of Hermosa Beach, California, do hereby
certify that the foregoing Resolution No. 91-5516 was duly and
regularly passed, approved and adopted by the City Council
of the City of Hermosa Beach at a Regular meeting of said
Council at the regular meeting place thereof on January 14,
1992.
`.►' The vote was as follows:
AYES: Benz, Edgerton, Essertier, Wiemans
NOES: Mayor Midstokke
ABSTAIN: None
ABSENT: None
DATED: January 14, 1992
Deputy City Clerk