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RES 95068
City of Pleasanton
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RES 95068
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/20/1995
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the loan payments will be on a variable basis consistent with average investment rates offered by the <br />Local Agency Investment Fund (LAIF). Staff feels this interest rate is appropriate since there are no <br />expansion projects which will require the revenue that is recommended to be loaned during the <br />repayment period. As a result, the revenue, if not loaned, would be earning comparable LAW interest <br />rates as part of the City's ongoing investment practices. The loans are necessary due to insufficient <br />revenue in the Sewer Replacement and Improvement Fund. <br /> <br />Transfers from the General Fund <br /> <br />The program includes a net transfer of approximately $1,156,594 from the General Fund during FY <br />1995/96 and $1,730,331 in FY 1996/97 of the program. A total of $6,665,425 is estimated for all five <br />years of the program. These funds will be used to pay for a variety of projects, including the <br />replacement and addition of equipment and debt service payments and is generally used to pay for the <br />replacement and improvement portion of miscellaneous projects. The expansion portion of these <br />projects is paid for with development revenue. A distribution of General Fund contributions over the <br />five years of the program is as follows. <br /> <br /> GENERAL FUND CONTRIBUTIONS <br /> <br /> 199.~/96 19~619'/ 19~'/198 1998199 19991110 TOT,~kL <br /> II <br /> $1,156,594 $1,730,:B1 $1,~22,500 $1,:~24,500 $1,231,500 $6,6f~,425 <br /> <br /> It should also be noted that projects determined to be scheduled routine replacement, i.e., trucks, <br /> vehicles and equipment and routine engineering studies which have traditionally been included in this <br /> program, have been moved to the City's Operating Budget. This move is done to reflect the fact that <br /> these projects are funded without the assistance of development revenue. In addition, by including these <br /> projects in the Operating Budget, the City gets a clearer picture of ongoing replacement costs. <br /> <br /> Trnn~fers from the Park Renovation Fund <br /> <br /> Also included in this year's pwgram, is $876,300 from the City's Park Renovation Fund to the <br /> Miscellaneous Project Category to fund Park Rehabilitation Projects. Pwjects scheduled for FY <br /> 1995/96 include: Fairlands Park Renovation - $334,000; Moeller Park Sidewalk Replacement - <br /> $93,000; Play Equipment and Park Furniture - $28,500 (ongoing each year of the program); Wayside <br /> Park Bandstand Impwvements - $10,000 (FY 1995/96), $40,000 (FY 1996/97); Sport Court Resurfacing <br /> - $38,000 and Hansen Park Pathway Repair ($19,200). Pwjects included for 1996/97 include: The <br /> Interior Redecoration of Century House - $20,000; Road Repairs on Sports Park Drive - $140,000. <br /> <br /> Assuming the inclusion of funded projects for 1995/96 and 1996/97, the City's Park Renovation Fund <br /> is expected to have a balance of $126,498. <br /> <br /> vul <br /> <br /> <br />
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