Title:
Title
Establishment of Multi-year Operating Project for the Habitat Project and Transfer of Funds
End
FileID
File ID: 2019-00696
Location
Location: Districts 4 and 6
Recommendation:
Recommendation
Adopt a Resolution: 1) establishing a Multi-year Operating Project for the Habitat Project (I01000600); 2) establishing an expenditure budget in I01000600 by transferring $30,000 from the General Fund (Fund 1001) available fund balance; and 3) appropriating $27,000 in the McKinley Village Alt Trans Imp Project (T15185100) by transferring from the General Fund (Fund 1001) the available fund balance for McKinley Park Street Lighting Project.
Contact: Claudia Lara, Treasury Analyst, (916) 808-2267; Brian Wong, Debt Manager, (916) 808-5811, Office of the City Treasurer
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Resolution
Description/Analysis
Issue Detail: At its meeting on November 13, 2018, the City Council adopted Resolution No. 2018-0438 declaring as surplus the remaining bond proceeds (and accrued interest) for Midtown Street Lighting Assessment District No. 2003-05 (the "Midtown AD") and Tahoe Park West Street Lighting Assessment District No. 2003-06 (the "Tahoe Park West AD"), a total of about $58,000, and ordering that the surplus be transferred to the General Fund. The City Council also directed during the meeting that the surplus funds for the Midtown AD be applied to the Midtown Streetlighting Project currently underway and that City staff work with District 6 on using the surplus for Tahoe Park AD to fund an appropriate project in that district.
The City Treasurer's Office worked with the City Council and the Public Works Department to identify the McKinley Park Street Lighting Project (the "McKinley Project") as the project that could be funded in part from the surplus for the Midtown AD. The McKinley Project (T15185102) is one of the priorities of the McKinley Village Alt Trans Imp Project (T15185100), which include...
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