HomeMy WebLinkAboutReso 2005-156
RESOLUTION NO. 2005-156
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA TRANSFERRING THE FUND BALANCE OF
THE INTERIM STATE ROUTE-125 DEVELOPMENT IMPACT
FEE FUND TO THE TRANSPORTATION DEVELOPMENT
IMPACT FEE FUND, AND FORGIVING THE $3.3 MILLION,
PLUS INTEREST, LOAN BETWEEN THESE FUNDS
WHEREAS, the Interim State Route-125 Development Impact Fee (SR-125 DIF) was
established in 1994 to ensure that sufficient funds would be avajiable to construct a north-south
transportation corridor should the State Route-125 freeway not be constructed in time to serve
impending development; and
WHEREAS, in December of2003, the City Council approved a loan of$3.3 million from
the Interim SR-125 DIF to the Transportation Development Impact Fee (TDIF) fund to finance a
capacity enhancement project widening the westbound to northbound 1-805 on-ramps at East H
Street; and
WHEREAS, in April of 2004, the City Council adopted Ordinance 2959 tolling the
Interim SR-125 DIF and amending Ordinance 2579 Section 1 (c) to authorize the expenditure of
Interim State Route-125 fees on transportation enhancing projects or transportation programs
related to State Route-125; and
WHEREAS, the Transportation Development Impact Fee (TDIF) program includes
facilities relating to State Route-125.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista hereby authorizes the transfer of the fund balance of the Interim State Route-125
Development Impact Fee fund to the Transportation Development Impact Fee fund and the
forgiveness of the $3.3 mi11ion loan between these funds.
Presented by
Approved as to form by
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s'Ohaib Al-Agha
City Engineer
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Ann Moore
City Attorney
Resolution 2005-156
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 10th day of May, 2005, by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Rindone and Padilla
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Davis
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ATTEST:
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Susan Bigelow, MMC, City C erk
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. 2005-156 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 10th day of May, 2005.
Executed this 10th day of May, 2005.
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Susan Bigelow, MMC, City Cler