HomeMy WebLinkAboutReso 80-2009RESOLUTION NO. 80-2009
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROPRIATING $535,000 FROM THE
GATEWAY ASSESSMENT DISTRICT AND AMENDING THE
2009-2010 CAPITAL IMPROVEMENT PROGRAM BUDGET
FOR STREET IMPROVEMENTS WITHIN THE GATEWAY
ASSESSMENT DISTRICT
WHEREAS, the Gateway Assessment District (District) was established in 1981 to
develop the Gateway project area of approximately 175 acres; and
WHEREAS, the primary purpose of the District was to utilize bond funds to install
infrastructure, such as street, storm drainage, and sanitary sewer improvements, and to recover
assessments from District property owners to pay for those bond funds; and
WHEREAS, while the District is no longer active, the District is in need of improvements
on several streets including Gateway Boulevard and East Grand Avenue that were part of the
original improvements authorized by the District; and
WHEREAS, the District has existing bond reserve funds plus accumulated interest
earnings in the amount of $535,000.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of South San
Francisco that the City Council hereby appropriates $535,000 from the Gateway Assessment
District fund, and amends the 2009-2010 CIP to reflect this appropriation for street
improvements within the District, and other related public works improvements in the District,
such as sidewalks, curb and gutter, or storm drains
AND, THEREFORE, BE IT RESOLVED that the Finance Director is hereby authorized
to adjust the final budget amendment amount due to rounding due to the final interest allocation
and closing of the books for the 2008-2009 year.
* * * ~x
I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the City Council of the City of South San Francisco at a regular meeting held on the 14th day of
October, 2009 by the following vote:
AYES: Councilmembers Pedro Gonzalez, Richard A. Garbarino, and Kevin Mullin,
Vice Mayor Mark Addiego and Mayor Karyl Matsumoto
NOES: None
ABSTAIN:
ABSENT:
Nine
ATTEST: "w
1 C' v Cl