HomeMy WebLinkAboutReso RDA 2-1992 RESOLUTION NO. 2-92
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION APPROVING BUDGET AMENDMENT 92-2
TO THE 1991-1992 OPERATING BUDGET
WHEREAS, a number of charges are being made to the various
Redevelopment funds that are causing the Agency to exceed its
budget;
WHEREAS, these charges are a result of accounting entries and
not purchases.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of
the City of South San Francisco that it hereby amends the Agency's
1991-1992 budget to transfer funds from the undesignated fund
balance to approve the following expenditures:
1. Two Hundred Forty Five Thousand Dollars ($245,000.00) to
pay interest on interfund loans advanced from the general fund.
2. Thirty Six Thousand Five Hundred Dollars ($36,500.00) to
pay interest on the loan from the City's self-insurance fund for
the repayment of the Gateway Tax allocation notes.
3. One Hundred Two Thousand Nine Hundred Ninety Five Dollars
($102,995.00) to pay tax increment sharing agreements for the
Downtown/Central Area.
4. Fifty Five Thousand Two Hundred Dollalrs ($55,200.00) to
pay an Internal Revenue Service arbitrage rebate.
I hereby certify that the foregoing Resolution was regularly
introduced and adopted by the Redevelopment Agency of the City of
South San Francisco at a re§u]ar meeting held on the 22nd
day of July , 1992 by the following vote:
AYES: Boardmembers Jack Drago, Joseph A. Fernekes, Robert Yee,
Roberta Cerri Teglia, and Chairman John R. Penna
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST:
'Clerk F/
Redevelopment Agency of the
City of South San Francisco
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