HomeMy Public PortalAbout2019.127 (10-01-19) RESOLUTION NO. 2019.127
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
AUTHORIZING THE SEGREGATION OF SB 1 MONIES FROM THE CITY'S GAS TAX
FUND, ESTABLISH A NEW FUND FOR SB 1 MONIES, AND TRANSFER
UNEXPENDED SB 1 REVENUE FROM FY 2017-18 AND FY 2018-19 AND THE FY
2019-20 PROJECTED REVENUE TO THE NEW FUND AS PART OF THE FY 2019-20
OPERATING BUDGET
WHEREAS, as part of the FY 2017-18 operating budget, SB 1 revenue accounts
specific to road maintenance rehabilitation and loan repayment were added under Gas
Tax Fund 2101; and
WHEREAS, as of FY 2019-20, revenue received from the State Highway Fund to
cover cost of street and traffic signal maintenance have been projected and recorded
under the Gas Tax Fund.
WHEREAS, in efforts to streamline the recording of SB1 (road maintenance
rehabilitation and loan repayment) revenue, staff is recommending that the revenues be
segregated and recorded under a newly established fund; and
WHEREAS, recording SB1 revenues in its own fund will ensure observance of
limitations and restrictions placed on the use of the resource, in addition to ensuring better
tracking of these two SB 1 revenues and associated expenditures.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY FIND, ORDER, AND RESOLVE AS FOLLOWS:
Section 1. The City Council authorizes the segregation of SB 1 monies from the
City's Gas Tax Fund, establish a new fund for SB 1 monies, and transfer unexpended SB
1 revenue from FY 2017-18 and FY 2018-19 and the FY 2019-20 projected revenue to
the new fund as part of the FY 2019-20 operating budget.
Section 2. The City Council authorizes the following transfer of SB 1 revenue in
the newly established fund:
Fiscal Year Amount Transfer From: Transfer To:
$421,870 2101.45.32140
2017-18 $81,848 2101.45.36241 Newly Established
$1,208,741 2101.45.32140 Segregated SB 1
2018-19 $81,212 2101.45.36241 Fund (Fund No. To
$1,191,966 2101.45.32140 Be Determined)
2019-20* $81,212 2101.45.36241
*Projected Revenue
Section 3. This resolution shall become effective immediately upon its adoption.
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PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the
City of Lynwood, California this 1st day of October 2019.
I O /
Jo.e Luis Solache, Mayor
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ATTEST:
i / ! --
Maria Quinonez, Jose E.'meteotl,
City Clerk OF City Manager
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
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(...___-
Noel Tapia, I J Downs, j
City Attorney i ance Director
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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 said City at its
regular meeting thereof held in the City Hall of the City on the 1st day of October, 2019
and passed by the following vote:
AYES: COUNCIL MEMBERS ALATORRE, CASANOVA, SANTANA, MAYOR
PRO TEM CASTRO, AND MAYOR SOLACHE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE �--
aria Quinonez,
City Clerk
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 foregoing is a full, true and correct copy
of Resolution No. 2019.127 on file in my office and that said resolution was adopted on
the date and by the vote therein stated. Dated this 1st day of October, 2019.
Maria Quinonez,
City Clerk
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