HomeMy WebLinkAbout2026/08/25 City Council Resolution 2026-067 RESOLUTION NO. 2026-067
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
AUTHORIZING A BUDGET AMEMDMENT FOR FY 2025-26 IN THE 2007R BOND 3
FUND IN THE AMOUNT OF $91,880 FOR THE CAPITAL PAVEMENT OVERLAY
PROJECT (CIP2508) AND ANY OTHER ASSOCIATED TRANSACTIONS
NECESSARY TO PROVIDE FUNDING AND CLOSE THE 2007R BOND FUND
WHEREAS, on August 25, 2015, the City Council approved the use of 2007R Tax
Allocation Bond funds ("Bond Funds") for a specified list of projects in the former
Redevelopment Project Area; and
WHEREAS, staff has from time to time requested that City Council add new projects to
be funded through Bond Funds; and
WHEREAS, staff recommends spending the remaining 2007R Bond 3 Funds as quickly
as possible to close out the fund in FY 2025-26; and,
WHEREAS, there is $91,880 remaining in the 2007R Bond 3 Fund accumulated from
interest earnings in FY 2025-26 that is not currently assigned to any projects; and,
WHEREAS, Staff has identified the Capital Pavement Overlay Project (CIP2508) as an
appropriate use of these funds.
NOW, THEREFORE, BE IT RESOLVED that the Finance Director is hereby
authorized to appropriate $91,880 of 2007R Bond Fund interest earnings to be used for the
Capital Pavement Overlay Project(CIP2508).
BE IT FURTHER RESOLVED that the Finance Director is hereby authorized to
initiate any other associated transaction necessary to provide funding and close the 2007R Bond
Fund.
DULY AND REGULARLY ADOPTED this 25th day of August, 2026.
CITY OF ROHNERT PARK
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ATTEST: it y Sanborn, Mayor
Sylvia Lopez Cuevas, City Clerk
APPROVED AS TO FORM: =`
Michelle M. Kenyon, City Attorney
ADAMS: 4 GIUDICE: Q RODRIGUEZ: ELWARD: SANBORN: �' i
AYES: (5- ) N S ( /JS ) ABSENT: ( q� ) ABSTAIN: ( ) Q
Docusign Envelope ID:A0966681-8604-87D0-83AF-DO1B572CFOFD
RESOLUTION NO. 2026-067
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
AUTHORIZING A BUDGET AMEMDMENT FOR FY 2025-26 IN THE 2007R BOND 3
FUND IN THE AMOUNT OF $91,880 FOR THE CAPITAL PAVEMENT OVERLAY
PROJECT (CIP2508) AND ANY OTHER ASSOCIATED TRANSACTIONS
NECESSARY TO PROVIDE FUNDING AND CLOSE THE 2007R BOND FUND
WHEREAS, on August 25, 2015, the City Council approved the use of 2007R Tax
Allocation Bond funds ("Bond Funds") for a specified list of projects in the former
Redevelopment Project Area; and
WHEREAS, staff has from time to time requested that City Council add new projects to
be funded through Bond Funds; and
WHEREAS, staff recommends spending the remaining 2007R Bond 3 Funds as quickly
as possible to close out the fund in FY 2025-26; and,
WHEREAS, there is $91,880 remaining in the 2007R Bond 3 Fund accumulated from
interest earnings in FY 2025-26 that is not currently assigned to any projects; and,
WHEREAS, Staff has identified the Capital Pavement Overlay Project (CIP2508) as an
appropriate use of these funds.
NOW, THEREFORE, BE IT RESOLVED that the Finance Director is hereby
authorized to appropriate $91,880 of 2007R Bond Fund interest earnings to be used for the
Capital Pavement Overlay Project (CIP2508).
BE IT FURTHER RESOLVED that the Finance Director is hereby authorized to
initiate any other associated transaction necessary to provide funding and close the 2007R Bond
Fund.
DULY AND REGULARLY ADOPTED this 25th day of August, 2026.
CITY OF ROHNERT PARK
ATTEST: ily Sanborn, Mayor
Sylvia Lopez Cuevas, City Clerk
APPROVED AS TO FORM:
Signed by:
MtchtP eN15. 6nyon, City Attorney
ADANIS: H CIUDIC£: RODRIGUEZ:G - ELWARD:, SANBORN: 427e,
AYES: ( ) DES: ( ) ABSENT: ( ) ABSTAIN: ( )