HomeMy WebLinkAboutReso RDA 17-1993 RESOLUTION NO. 17-93
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION APPROVING INTERIM FUNDING FOR
FISCAL YEAR 1993-1994 FOR THE REDEVELOPMENT
AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
AND ADOPTING CORRESPONDING APPROPRIATIONS
WHEREAS, the State of California has indicated its
intention to make up some of its revenue shortfall by raiding
a significant portion of Redevelopment Agency revenues; and
WHEREAS, the actions of the State have created a great
deal of uncertainty with regards to the amount of revenue which
will be available to the Agency; and
WHEREAS, the Board is not willing to make a final
commitment on the 1993-94 Operating Budget until the confusion
created by the State is cleared up; and
WHEREAS, it is the intention of the Board to grant interim
spending authority to allow for the continued orderly operation
of the Agency for a period of sixty (60) days; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of the
Redevelopment Agency of the City of South San Francisco that it
finds:
1. Interim spending authority is hereby granted for a
period of sixty (60) days from July 1, 1993 through August 29,
1993 to allow for the continuation of operations of the Agency
and its various project areas.
2. All amounts necessary for the continued operation of
Agency for the sixty (60) day period set forth in paragraph 1
are hereby appropriated for expenditure. Such appropriation
shall be based upon the 1992-93 Operating Budget in a ratio of
365 to 60.
3. All annual contracts, leases and obligations
previously entered into and agreed to by the City may be
renewed. The funds necessary to finance such renewals are
hereby appropriated.
4. The Director of Finance is hereby authorized and
directed to distribute the appropriations, transfers, and
reserves to the various accounts of the Agency in accordance
with generally accepted accounting practices and consistent
with the approved budget.
5. The Director Finance is hereby authorized and
directed to rollover any outstanding encumbrances from Fiscal
Year 1992-93 into Fiscal Year 1993-94.
6. Appropriations for the proposed E1 Camino Corridor
project area shall be equal to remaining unencumbered
appropriations from Fiscal Year 1992-93 for that project area.
7. Consistent with the limitations set forth herein any
and all expenditures for, and agreements relating to, the
programs and materials described in the budget, may be expended
or entered into under authority of or by the Executive
Director, are hereby approved and authorized, and payments
therefor may be made by the Director of Finance.
I hereby certify that the foregoing Resolution was
regularly introduced and adopted by the Redevelopment Agency of
the City of South San Francisco at regular meeting held
on the 14th day of July , 1993 by the following
vote:
AYES: Boardmembers Jack Drago, Joseph A. Fernekes, John R. Penna,
Robert Yee, and Chairwoman Roberta Cerri Teglia
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST:
Redevelopment Agency of the
City of South San Francisco
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