HomeMy WebLinkAboutReso 2000-297 RESOLUTION NO. 2000-297
RESOLUTION OF THE CITY OF CHULA VISTA
APPROPRIATING $21,447,577 TO THE CORPORATION YARD
PROJECT (GG131) AND $1,500,000 TO THE 800MHz
COMMUNICATION PROJECT BASED ON ANTICIPATED
PROCEEDS FROM THE ISSUANCE OF CERTIFICATES OF
PARTICIPATION, APPROPRIATING AN ADDITIONAL
$2,503,636 TO THE CORPORATION YARD PROJECT FROM
UNANTICIPATED REVENUES IN THE TRANSIT FUND
($999,022) AND AVAILABLE FUND BALANCES IN THE
TRANSIT FUND ($1 MILLION) AND THE SEWER SERVICE
REVENUE FUND ($504,614), APPROPRIATING $454,438 FOR
THE FIRST SEMI-ANNUAL DEBT SERVICE PAYMENT FOR
THE CORPORATION YARD PROJECT FROM THE
AVAILABLE BALANCE IN THE PUBLIC FACILITIES
DEVELOPMENT IMPACT FEE (PFDIF) FUND, AND $26,539
FOR THE FIRST SEMI-ANNUAL DEBT SERVICE PAYMENT
FOR THE 800 MHZ PROJECT FROM THE AVAILABLE
BALANCE 1N THE RESIDENTIAL CONSTRUCTION TAX
FUND
WHEREAS, the Council has previously approved a capital project to acquire and construct
a new corporation yard and a second project to upgrade the existing 800MHz Communication
System and directed staff to return with recommended financing for these projects; and
WHEREAS, for the portion of these projects that will not be funded with existing resources,
staff is recommending approval of a long-term borrowing by issuing Certificates of Participation;
and
WHEREAS, staff has determined it is necessary to reallocate and appropriate funding.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby appropriate $21,447,577 to the Corporation Yard Project (GG 131 ) and $1,500,000 to the 800
MHZ Communication Project based on anticipated proceeds from the issuance of Certificates of
Participation, appropriating an additional $2,503,636 to the Corporation Yard Project from
unanticipated revenues in the Transit Fund ($999,022) and available fund balances in the Transit
Fund ($1 million) and the Sewer Service Revenue Fund ($504,614), appropriating $454,438 for the
first semi-annual debt service payment for the Corporation Yard project from the available balance
in the Public Facilities Development Impact Fee (PFDIF) Fund, and $26,539 for the first semi-
annual debt service payment for the 800 MHZ project from the available balance in the Residential
Construction Tax Fund.
Resolution 2000-297
Page 2
Presented by Approved as to form by
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 15th day of August, 2000, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilia, Salas, and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Shirley Horton, ~yor '
ATTEST:
Susan Bigelow, City Cl~c
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2000-297 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 15th day of August, 2000.
Executed this 15th day of August, 2000.
Susan Bigelow, City Clerk