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4 - JOINT - RESO - 2011 BONDS
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4 - JOINT - RESO - 2011 BONDS
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Last modified
9/29/2016 3:10:14 PM
Creation date
9/29/2016 2:59:21 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
4
Date
10/4/2016
Destruction Year
2021
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REQUEST FOR <br />COUNCIL / <br />SUCCESSOR <br />AGENCY ACTION <br />CITY COUNCIL MEETING DATE: <br />OCTOBER 4, 2016 <br />TITLE: <br />RESOLUTION APPROVING A PLAN FOR <br />SPENDING EXCESS 2011 SERIES A TAX <br />ALLOCATION BONDS AND AUTHORIZING A <br />BOND PROCEEDS EXPENDITURE <br />AGREEMENT; APPROPRIATION <br />ADJUSTMENT TO TRANSFER 2011 SERIES <br />A BOND PROCEEDS TO THE CITY <br />(STRATEGIC PLAN NOS. 4, 1 & 6, 1G) <br />`�a 4, /In;r/ <br />CITY MANA R <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />CLERK OF COUNCIL USE ONLY: <br />IG1�:Zi��l <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1s' Reading <br />❑ Ordinance on 2 "d Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution approving a plan for spending excess tax allocation bond proceeds from <br />the 2011 Series A Tax Allocation Bonds, authorizing a bond proceeds expenditure <br />agreement with the Successor Agency, and making certain findings in connection therewith. <br />Authorize the City Manager and the Clerk of the Council to execute the Bond Proceeds <br />Expenditure Agreement with the Successor Agency to the former Community <br />Redevelopment Agency to receive current excess bond proceeds in the amount of $260,695 <br />and any future excess bond proceeds, and to expend the funds for capital improvements, <br />subject to non - substantive changes approved by the City Manager and City Attorney. <br />Approve an appropriation adjustment recognizing $260,695 in the Successor Agency's 2011 <br />Series A Bonds prior year carry forward account (no. 65418002 - 50001) and appropriating <br />same to the expenditure account (no. 65418020 - 69142); approve an appropriation <br />adjustment recognizing $260,695 in the Parking Fund in revenue account (no. 02710002- <br />59899) and appropriating same to expenditure account (no. 02710132- 66200). <br />SUCCESSOR AGENCY ACTION <br />Adopt a resolution approving a plan for spending excess tax allocation bond proceeds from <br />the 2011 Series A Tax Allocation Bonds, authorizing a bond proceeds expenditure <br />4 -1 <br />
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