HomeMy WebLinkAbout21251 - RESOLUTIONS - 5/4/2005 RESOLUTION NO. 21251
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS AUTHORIZING THE ESTABLISHMENT OF
A NEW SPECIAL REVENUE FUND TO BE CALLED THE
SPECIAL DEVELOPMENT FUND AND AUTHORIZING THE
DIRECTOR OF FINANCE TO CREATE THE APPROPRIATE
ACTIVITIES (COST CENTERS) AND ACCOUNT NUMBERS
WHEREAS, the City and/or the Community Redevelopment Agency has entered
into Subdivision Improvement Agreements with various developers; and
WHEREAS, one of the provisions of these agreements is the establishment of
special building fees for the affected tracts; and
WHEREAS, the City is required by State law to track the revenue received from
those fees, and the expenditures made from them; and
WHEREAS, the most efficient method of segregating the revenue and
expenditures is to record the transactions in a separate fund.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. To create a new special revenue fund to be called the Special
Development Fund.
SECTION 2. To direct the Director of Finance & Treasurer to record the
appropriate receipts and expenditures in this fund.
SECTION 3. To authorize the Director of Finance & Treasurer to create the
appropriate activities (cost centers) and account numbers, as necessary.
ADOPTED•THIS 4tn day of May, 2005.
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David H. Ready, City , ager
ATTEST:
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1 J r�S s Thompson, City Cl rk
CERTIFICATION '
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF PALM SPRINGS )
I, JAMES THOMPSON, City Clerk of the City of Palm Springs, hereby certify that
Resolution No. 21251 is a full, true and correct copy, and was duly adopted at a
regular meeting of the City Council of the City of Palm Springs on May 4, 2005, by
the following vote:
AYES: Members Foat, McCulloch, Mills, Pougnet and Mayor Oden
NOES: None
ABSENT: None
ABSTAIN: None
mes Thompson, City IerG k
City of Palm Springs, California