2002/06/25 City Council Resolution (14)RESOLUTION NO. 2002 -143
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO PROCEED WITH TEMPORARY TRANSFER OF FUNDS
FROM THE ENDOWMENT RESERVE FUND
TO THE GENERAL FUND TO ASSIST IN BALANCING
THE 2001 -2002 BUDGET
WHEREAS, the 2001 -2002 Budget included the sale of the existing City Hall site
to the Community Development Agency for an affordable housing project; and
WHEREAS, the City Council has postponed the construction of the new City Hall
on City Hall Drive; and
WHEREAS, because of the postponement of the construction of the new City
Hall, the City is unable to consummate the sale of the existing City Hall until more
definite and concrete plans for its construction are finalized; and
WHEREAS, because of these recent events, the current General Fund balance
will be short by approximately $1 million; and
WHEREAS, it is the recommendation of the City Manager and City Finance
Director to temporarily fund this shortfall by a transfer of funds from the General Fund
Endowment Reserve to the General Fund, which funds shall be transferred back to the
General Fund Endowment Reserve on the earlier sale of the existing City Hall or the
sale of other city land assets.
NOW, THEREFORE BE IT RESOLVED that the City Manager is authorized to
transfer $1 million from the General Fund Endowment Reserve to the General Fund to
balance the 2001 -2002 Fiscal Year Budget.
BE IT FURTHER RESOLVED that the City Manager is instructed to transfer
back $1 million to the General Fund Endowment Reserve on the earlier of the date the
existing City Hall is sold or other city land assets are sold.
DULY AND REGULARLY ADOPTED this 25"' day of June, 2002.
CITY OF ROHNERT PARK
WIA ffA M/
ATTEST:
MACKENZIE: AYE REILLY: AYE VACANCY: N/A VIDAK- MARTINEZ: AYE FLORES: AYE
AYES: (4) NOES: (0) ABSENT: (0) ABSTAIN: (0)