The URL can be used to link to this page

Home My WebLink AboutCC RESO 8216HOUSING AND HOME FINANCE AGENCY COMMUNITY FACILITIES ADMINISTRATION RESOLUTION OF GOVERNING BODY OF APPLICANT RESOLUTION NO. 8216 Project No. CFA=1101-2a (9/62) (For HHFA use.) Resolution providing for increase in planned total expenditure for capital improvement projects. Whereas, under thy?. terms of Public Law 87-658, approved September 14, 1962, the United States of America has authorized the making of a grant to aid in financing the construction of a specific public works project, provided the proposed or planned total expenditure of the public body f-r its capital improvement projects is increased by an amount approximately equal to the non -Federal funds required to complete such public works project: Now, Therefore, 134! It Resolved BY THE CITY COUNCIL OF THE CITY OF NATIONAL CITY Governing Board of Applicant 1. That as of the date of filing of an application by CITY OF NATIONAL CITY (Exact Legal Corporate Name of Applicant) (hereafter called Applicant) with the Housing and Home Finance Agency, United States Government, fo7 a grant to aid in financing the construction of Drainag.e Project Northeasterly, Highland Avenue to "L" Avenue. (Brief Project Description) the Applicant had a capital improvements plan or capital improvement budget for the fiscal year or years during which construction of the proposed project is expected to occur; and that the total expenditure for capital improvements in said plan or. budget was $140,000 for the fiscal year ending June, 1963 and $65,000 for the fiscal year ending June, 1964 However, due to the present financial condition of the general and other funds of. the City of National City, as more fully explained in Exhibit A, attached hereto and incor- porated by reference the actual expenditures which could be made during such fiscal year is $0, 2. That, in the event that said Federal grant is approved by the United States of America, said capital improvements plan or capital budget will be /is hereby/ increased by $65,000 for the fiscal year ending June, 1963 and $65,000 for the fiscal year ending June, 1964 for a total increase of $65,000 in the proposed or planned total expenditure for capital improvement projects (exclusive of Federal funds). 3. That said total increase in the proposed or planned total expenditure for capital improve- ment projects is approximately equal to the non -Federal funds required to complete the public works project for which the application is to be submitted. This resolution is adopted pursuant to the authority provided by Government State Code, Title 5, Division 2, Part 1, Chapter 4, Article 3 (cite applicable State or LOCAL LAW) CERTIFICATE OF RECORDING OFFICER The undersigned duly qualified and acting of the?,,, (_ (Title y�f Officer) (Exa egal Corporate does hereby certify: That the attached resolution is a true and correct name of ppltK icant.) copy of the resolution, providing for an increase in the proposed or planned total expend- itures for capital7i�ejm+rovent projects, as regularly adopted at a legally con� 'ned meeting of the C (.6�.. ' duly held on the e day of (Name of Gov ning Body of Applicant) 19r- , and further that such resolution has been fully recorded in the journal of proceed- ings and records in my office. In Witness Whereof, I have hereunto set my hand this2,�_ ay of If the applicant has an official seal, ingress here j Signature of Recording Officer. Title of R fording Officer EXHIBIT"A" Concerning the resolution matters as related to the Drainage fund and the manner in which it is administered to in National City is hereby ex- plained. The Drainage fund can be considered as a holding fund for moneys, this supported by the General fund. This is to say that any moneys placed in the Drainage fund by the General fund are not necessarily allocated for any particular project, which is the case in the 1962-63 operating budget for the City of National City as applied to drainage. As this resolution indicates, the Drainage budget for this fiscal year is set forth as $140,000.00. No allocations were made to any specific projects, this only indicating that this would be the full amount of money which would be available to the Drainage fund as of June, 1963, providing that the General fund was able to support it in it's entirety. The attached two charts should show a clearer picture as to the manner in which the Drainage fund would have to operate during this fiscal year without using matching funds,and its counterpart shows the Drainage fund as it could operate utilizing the matching funds available under the Public Works Acceleration Act. In the chart showing the fund whereby matching funds would not be used, the following is set forth. As of July 1, 1962, $65,000.00 were on hand. It was immediately necessary to borrow $25,000.00 from this fund to help support the General fund, making a balance on hand of $40,000.00. No moneys were used from the Drainage fund until October 16, 1962, at which time another $30,000.00 were loaned to the General fund, making a balance in the Drainage fund of $10,000.00. Since taxes and other moneys available to the City which would ordinarily come into the General fund are not available during the forthcoming months, the Drainage fund would have a balance of only $10,000.00 until approximately May of 1963, at which time the General fund would repay the entire loan of $55,000.00. This, of course, means that there is a dormant period as far as drainage construction activities are concerned from mid October of 1962 until May, 1963. Also during the period between May and June, 1963, an additional $75,000.00 would be transferred into the Drainage fund by the General fund for further use during the 1963-64 budget; once again with no specific projects designated. The other chart which shows utilization of matching funds paints this picture. Once again as of July 1, 1962, $65,000.00 were available in this fund. The $25,000.00 loan to the General fund, of course, was made as previously indicated, as well as the $30,000.00 loan to the General fund. Because of a very recent sale of City lands it is now possible to replace the borrowed moneys totaling $55,000.00 which would at this time give us a balarce of $65,000.00, on hand for specific projects. We have two specific projects in mind at this time which total a $130,000.00 expenditure, this being the request for the matching funds. One of the projects is the: Highland Avenue Northeasterly to "L" drainage project which will require a total expenditure of $90,000.00. The other project is Seventh Avenue from "Q" to "T" which requires a $40,000.00 total expenditure. -2- It is to be noted here then that should matching funds not be available, we would not be able to undertake either of these projects at this time or construct any drainage of any magnitude by virtue of the previous explana- tion, and the Matching funds would be of great public service to this City as well as creating many jobs. Once agai°n, some time during the period of May or June, 1963, we would transfer into the Drainage fund from the General fund, $75,000.00 (even though matching funds had been acquired) for drainage operations for the fiscal year 1963-64. orloW le w 1 0 i o 4 $ i , IN k8 0 f. x4eav7 000 s7 000 S9 ti� qe 00n 07/ f113POd�/ ,P9I'N/da' ' J/!/7_ad5 d'o ' 5?/,t47G/' $37Nl 7N0'7 1Ns'J�� 9N/f/ hair./ 9M2 / J91 / / /Y �-./ y 0 00'0 Z 000y aeo g0o'0Q 000'00/ 000'O7 / .7Nrrti• lJev.rsi S E.,6s.' vecer6e,• t%OnMe/y ts6Ruer) L He, N so i q H i \ D all' 1\ ,y 0 a� e cI p I \ o sSaoa Rep y.»ai.e,-/ fenr denBld/ •wwd sE4ivj i..,,,dJ Gir-,LbO '.. i. + i /7 !/ / / — 11 —+ I r� / / / / /�aP yP +3 / ,a / a'�� d // ti / / 9[9 / / / }/ / J 0 iYs iSf r ,..-' 'O/d✓/,e 4ro,r, Gexre/ Fr.H, p / '.. ii $e° o a ti PASSED AND ADOPTED by the City Council of the City of National City, California, this day of October 19 62 , by the following vote, to -wit: AYES: Councilmen Colburn, Hart, Gautereaux 20th NAYS: Councilmen Morgan ABSENT: ATTEST: City Clerk I hereby approve the foregoing Allen Resolution Ore ayor of the' City o 'tional City, California this 20th day of..-..OctrQl2Qi , 19 62 Mayor of the City of ational City, Califor la Resolution hereby certify that then -above and foregoing is a full and true copy of - Ordinance No Resolutions of the Ordinances City City,California,p b of the of National as adopted the CityCouncil of said y City, and approved by the Mayor of said City, on the day of , 19 City Clerk of the City of National City, California. Deputy