HomeMy WebLinkAboutReso 2023-109 - Adopting and approving the 19th Amendment to City Budget Resolution No. 2023-060 appropriating $2,698,000 for the revised Section 108 funding of the South City Park projectRESOLUTION NO. 2023-109
A RESOLUTION OF THE CITY OF REDDING APPROVING AND ADOPTING THE
19TH AMENDMENT TO CITY BUDGET RESOLUTION NO. 2023-060
APPROPRIATING $2,698,000 FOR THE REVISED SECTION 108 FUNDING OF THE
SOUTH CITY PARK PROJECT AND ESTABLISHNG A SECTION 108 PAYMENT
GUARANTEE FOR FISCAL YEAR 2023-2024
BE IT RESOL VED BY THE CITY COUNCIL OF THE CITY OF REDDING
THAT Budget Resolution No. 2023-060 be and is hereby amended as follows:
FUND
DIVISION
191
9161
101
1.091
DESCRIPTION
Community Development Block
Grant
General Fund Debt Service
INCREASE DECREASE
$2,458,000
$240,000
THAT account titles and numbers requiring adjustments by this Resolution are as follows:
Decrease (Increase) Fund Balance
191-9161-3742001-00000 Loan Proceeds
101-1091-2910000-00000 Fund Balance
Increase Expenditures
191-9161-6001304-00000 South City Park -Sec. 108
191-9161-5087502-00000 Loan Fees
101-1091-9000901-00000 Section 108 loan guarantee
USE SOURCE
$ 2,407,730
$ 50,270
$ 240,000
$ 2,458,000
$ 240,000
THAT the purpose is to appropriate $2,698,000 for the revised Section 108 Funding of the South
City Park Project and establishing a section 108 payment guarantee for fiscal year 2023-2024.
I HEREBY CERTIFY that the foregoing resolution was introduced at a regular meeting of the City
Council of the City of Redding on the 7th day of November, 2023, and was duly adopted at said
meeting by the following vote:
AYES: COUNCIL MEMBERS: Audette, Mezzano, Munns, and Winter
NOES: COUNCIL MEMBERS: Dacquisto
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
MICHAEL DACQUISTO, Mayor
ATTEST:
Mme~ n
11A"a
SHARLENE TIPTON, City Clerk
FORM APPROVAL:
BARRY E. DeWALT, City Attorney