HomeMy Public PortalAbout2013.123 (09-17-13) RESOLUTION NO. 2013.123
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
AUTHORIZING STAFF TO APPROPRIATE $1 MILLION INITIAL FRANCHISE
FEE REVENUE AND SHARED RECYCLING REVENUE TO PAY DOWN $4
MILLION IN DEFICIT FUND BALANCES
WHEREAS, the City has 6 deficit funds which include the Traffic Safety,
Street Lighting Maintenance, Landscape Maintenance, TEA Grant, Park
Replacement, and Self-Insurance; and
WHEREAS, the total projected FY 13 year-end deficit fund balance as of
June 30, 2013 is $4 million; and
WHEREAS, the City needs to eliminate the deficit fund balances; and
WHEREAS, the City will receive a $1 million initial franchise fee from the
new waste hauler, Waste Resources, Inc. (WRI); and
WHEREAS, in FY 14 the City will receive $80K in shared recycling
revenue;
WHEREAS, staff recommends the appropriation of the $1 million initial
franchise fee and $80,000 of the shared recycling revenue to pay down the $4
million in deficit fund balances.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD •
DOES HEREBY RESOLVE AND DETERMINE AS FOLLOWS:
• SECTION 1. That the City Council finds and determines the foregoing
recitals to be true and correct and hereby adopts and incorporates them into this
Resolution.
SECTION 2. That City staff is authorized to appropriate the $1 million
initial franchise fee and $80K of shared recycling revenue to pay down the $4
million in deficit fund balances. The recommended appropriation is as follows:
Fund Recommended Appropriation
Traffic Safety $158,867
Street Lighting Maintenance 17,528
TEA Grant 219,446
Park Replacement 344,159
Self-Insurance 340,000
Total Appropriation $1,080,000
SECTION 3. That this Resolution shall take effect immediately upon its
adoption.
•
PASSED, APPROVED and ADOPTED this 17th day of September
2013.
Sa va:or Alatorre, Mayor
ATTEST:
Maria Quinonez, City Clerk /
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
Ice ,(0
Fred Gal!nte, City Attorney Richard N. Warne
Interim Ci Manager
Amanda Roberson, Director
Finance
STATE OF CALIFORNIA
) §
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, do hereby certify that
the above and foregoing Resolution was duly adopted by the City Council of the
City of Lynwood at a regular. meeting held in the City Hall of said City on the 17th
day of September 2013, and passed by the following vote:
AYES: COUNCIL MEMBERS CASTRO, SANTILLAN-BEAS, MORTON,
RODRIGUEZ AND ALATORRE
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
j4JL a.d
aria Quinonez, City Clerk j
STATE OF CALIFORNIA )
) §
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City
Council of said City, do hereby certify that the above and forgoing is a full, true
and correct copy of Resolution No. 2013.123 on file in my office and that said
Resolution was adopted on the date and by the vote therein stated. Dated this
17th day of September 2013.
aria Quinonez, City Clerk /
•
i I