2019/11/26 City Council Resolution 2019-143RESOLUTION NO. 2019-1.43
A RESOLUTION OF THE CITY COUNCIL OF'THE CITY OF ROHNERT PARK
AUTHORIZING THE CITY MANAGER TO APPROPRIATE ACCUMULATED INTEREST
FROM 2OO7R TAX ALLOCATION BOND PROCEEDS AND RETURN FUNDING TO
SPRECKELS PERFORMING ARTS CENTER CAPITAL FACILITY FUND
WHEREAS, the City Council approved the Expenditure Agreement (Agreement) for Excess
2007R Tax Allocation Bond Proceeds and authorized the use of proceeds on select projects through
Resolution 20 | 5 -024 ; and
WHEREAS, the Senior Center Restroom Renovation Project, the Performing Arts Center
(PAC) Roof Replacement Project, and the PAC Heating Ventilation and Air Conditioning (HVAC)
Replacement Project were among the projects selected; and,
WHEREAS, the Senior Center Restroom Renovation Project is in the preliminary stages of
development with the potential to utilize additional funding; and,
WHEREAS, the City Council subsequently authorized an appropriation of $30,000 from the
PAC Capital Facility Fund to help fund the PAC Roof Replacement Project and $70,000 from the PAC
Capital Facility Fund to help fund PAC HVAC Replacement Project; and,
WHEREAS, the PAC Roof Replacement Project and the PAC HVAC Replacement Project are
complete and are under budget with partial funding remaining from both funding sources; and,
WHEREAS, the 2007R Tax Allocation Bond Proceeds have earned 552,505.62 in interest that
needs to be appropriated for use consistent with the Agreement,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Rohnert Park
that it does hereby authorize the City Manager, or his/her designee, to appropriate $15,667.91 of 2007R
Tax Allocation Bond interest to the senior center Restroom Renovation Project' $14'268'33 to the
PAC Roof Replacement Project, and522,569.38 to the PAC HVAC Replacement Project.
BE IT FURTHER RESLOVED the City Manager is authorized to return S30,000 of unused
funds from the PAC Roof Replacement Project and $70,000 of unused funds from the PAC HVAC
Replacement Project to the PAC Capital Facility Fund.
DULY AND REGULARLY ADOPTED this 26th day of November 2019.
CITY OF
ATTEST:
M. Buergler, City
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