HomeMy Public PortalAbout2003.003 (01-07-03)RESOLUTION NO. 2003.003
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LYNWOOD AMENDING THE FISCAL YEAR 2002-2003 ANNUAL
BUDGET TO INCLUDE CERTAIN APPROPRIATIONS FOR THE
SECTION 108 LOAN FUNDS AND THE BEDI GRANT
WHEREAS, The City of Lynwood has received additional funds
from the CDBG Section 108 Loan Program; and
WHEREAS, The City of Lynwood has received approval for a BEDI
Grant; and ,
WHEREAS, The Lynwood Redevelopment Agency is the
subrecipient of the loan funds and Grant Funds; and
WHEREAS, Lynwood Redevelopment Agency has entered into
agreement to expend $1,850,000 00 for the Plaza Mexico Redevelopment
Project.
NOW, THEREFORE, the City Council does hereby resolve as
follows•
Section 1. The City Council approves the following
appropriations for the FY 2002-2003 Budget.
~FROM AMOUNT TO
Revenue
2002/Sec 108 Loan Funds $7,000,000 00 77-30521 Loan Proceeds
2002/Sec 108Loan Funds $ 40,000 00 77-30408 Interest Income
2002JBED1 Grant Funds $ 875,000 00 Fund 78 Grant Revenue
Section 108 Loan Funds $7,010,620.00 05-33077 Transfers-In
Ex~enditures
Sec 108 Unappropriated Fund Balance $1,850,000 00 05-5279 Plaza Mexico Project
Sec 108 Unappropriated Fund Balance $5,115;620 00
05-5279 Undesignated
BEDI Unappropriated Grant Balance $ 875,000.00 78 - Sec 108 Loan Repayment
Sec 108 Unappropriated Fund Balance $ 34,380 00 77-4683-4237 Issuance Cost
Transfers-Out from Sec 108 Loan Funds $7,010,620 00 77-6699-6605 Transfer-Out
Section 2. This resolution shall go into effect immediately upon
adoption ~by the City Council.
H~\WORDFILEIREDEVELP\SWOLFIBUDGET AMEND Sec 108.doc
tn PASSED, APPROVED and ADOPTED by the City Councii
this 7 day of January 2003.
ATTEST:
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'~Fernando Pedroza, Mayor
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Andrea L. Hooper, City Clerk
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Faustin on le , City ager
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`~~~~ ~`~''~~~~~~t~~~ r tta F. Earnest, Finance Dir.
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 a regular
meeting thereof held in the City Hall of the City on the 7th day of January 2003 and
passed by the following votes:
AYES: COUNCILMEN BYRD, REYES, RICHARDS,RODRIGUEZ, PEDROZA
NOES: NONE
ABSENT: yONE
STATE OF CALIFORNIA )
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COUNTY OF LOS ANGELES )
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Andrea L. Hooper, City Clerk
City of Lynwood
I, 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. 2003.003
on file in my office and that said resolution was
adopted on the date by the vote therein stated, dated this 7th day of
January
~~~~v ~, ~-~
Andrea L. Hooper, City Clerk
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; ~
H:\WORDFILEIREDEVELP\SWOLFIBUDGET AMEND Sec 108.doc