HomeMy WebLinkAbout21456 - RESOLUTIONS - 11/16/2005 RESOLUTION NO. 21456
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, REPEALING AND REPLACING
RESOLUTION NO. 21373 AND SETTING THE RESERVATION
OF UNAPPROPRIATED FUND BALANCES IN VARIOUS CITY
OPERATING AND CAPITAL PROJECT FUNDS FOR THE
FISCAL YEAR ENDING JUNE 30, 2005.
WHEREAS, the City of Palm Springs has unappropriated fund balances in various
Operating and Capital Projects Funds; and
WHEREAS, the City of Palm Springs will require the funds composing these
unappropriated fund balances for future operations or projects; and
WHEREAS, the City Council of the City of Palm Springs desires to reserve these funds
for future use; and
WHEREAS, on July 20, 2005 the City Council adopted Resolution 21373 setting the
unappropriated fund balances, as of June 30, 2005; and
WHEREAS, appropriation limit established for the fiscal year ending June 30, 2005 was
calculated using an incorrect factor resulting in a lower appropriations limit then allowed
by statute; and
WHEREAS, the City desires to formally correct the appropriations limit and the
reservation of unappropriated fund balances in various operating and capital project
funds.
THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. The Council hereby repeals Resolution 21373 in its entirety.
Section 2. The City Council hereby authorizes the Finance Director to appropriate from
unappropriated fund balances, as of June 30, 2005, funds for the following reserves
indicated, provided the appropriations do not result in the City exceeding its
appropriation limit of $94,962,486.
Fund Reserves
General Reserve for Contingencies, $1,000,000
Reserve for Capital Projects, remainder
Community Promotion Reserve for Capital Projects, Libraries and Parks
Special Gas Tax Reserve for Capital Projects
Capital Projects Reserve for Capital Projects
Drainage Reserve for Capital Projects
Resolution No. 21456
Page 2
Section 3. The City Clerk shall certify to the adoption of the Resolution, and thenceforth and
thereafter the same shall be in full force and effect.
ADOPTED this 161h day of November, 2005.
David H. Ready, City klagw
�y
ATTEST:
James Thompson, City C16rk
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. 21456 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 November 16, 2005, by the following vote:
AYES: Councilmembers Foat, Mills, Pougnet, Mayor Pro Tern McCulloch and Mayor
Oden
NOES: None
ABSENT: None
ABSTAIN: None
/James Thompson, City Clerk
ity of Palm Springs, California