HomeMy Public PortalAboutResolution 06-44021
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RESOLUTION NO. 06 -4402
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMPLE CITY,
CALIFORNIA, APPROVING THE AGREEMENT BETWEEN THE FIRST
SUPERVISORIAL DISTRICT OF THE COUNTY OF LOS ANGELES, CALIFORNIA AND
THE CITY OF TEMPLE CITY, REGARDING THE EXCHANGE OF COMMUNITY
DEVELOPMENT BLOCK GRANT (CDBG) FUNDS FOR GENERAL FUNDS
THE CITY COUNCIL OF. THE CITY OF TEMPLE CITY DOES HEREBY RESOLVE AS
FOLLOWS:
WHEREAS, the-City Council of the City of Temple City considered on February 21, 2006, the
exchange of Community Development Block Grant (CDBG) Funds for General Fund monies with the 1st
Supervisorial District of the County of Los Angeles; and
WHEREAS, the use of CDbG Funds is strictly limited by law; and
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WHEREAS, the City af Temple City desires to exchange CDBG Funds for General Funds with
the 1st Supervisorial District of the County of Los Angeles at a rate of $0.65 of general funds on the dollar
of CDBG funds; and ,
WHEREAS, the 1st Supervisorial District of the County of Los Angeles is a recipient of CDBG
Funds and desires to exchange $315,666 of General Fund Monies for $485,640 of Temple City CDBG
Funds.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TEMPLE CITY DOES FIND,
DETERMINE AND DECLARE AS FOLLOWS:
SECTION 1. An Agreement between the 1st Supervisorial District of the County of Los Angeles
and the City of Temple City is hereby approved.
SECTION 2. In accordance with the Agreement, the 1st Supervisorial District of the County of
Los Angeles will exchange General Fund Monies for CDBG Funds with the City of Temple City at a rate
of no less than $0.65 on the dollar.
SECTION 3. The 1st Supervisorial District of the County of Los Angeles will exchange $315,666
of General Fund Monies for $485,460 of Temple City CDBG Funds.
SECTION 4. The City Manager is authorized and directed to execute any and all documents
necessary to complete the exchange of CDBG Funds on behalf of the City of Temple City.
SECTION 5. This resolution shall take effect immediately.
SECTION 6. The City Clerk shall certify to the adoption of this resolution.
PASSED, APPROVED and ADOPTED on this 21st day of February, 2006.
ATTEST:
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City Clerk
Adr(YAle
MAYOR
Resolution No. 06 -4402
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I hereby certify that the foregoing resolution, Resolution No. 06 -4402, was duly passed, approved
and adopted by the City Council of the City of Temple City at a regular meeting held on the 21st day of
February, 2006 by the following vote:
AYES: Councilmember - Gillanders, Wilson, Wong, Capra, Arrighi
NOES: Councilmember -None
ABSENT: Councilmember -None
ABSTAIN: Councilmember -None
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