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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 87-69 <br /> <br /> APPROPRIATION OF EXCESS FUNDS TO CONTINGENCY RESERVE <br /> <br /> WHEREAS, on May 1, 1985, the City Council adopted the <br /> appropriation limit required by Article XIII B of the <br /> State of California Constitution (Proposition 4) for <br /> fiscal year 1985-86 in the sum of $10,487,830; and <br /> <br /> WHEREAS, the City received total restricted tax revenues in <br /> fiscal year 1985-86 of $12,817,614; and <br /> <br /> WHEREAS, the City has excess funds in the General Fund of <br /> $1,128,415; and <br /> <br /> WHEREAS, the governing body is allowed to appropriate the <br /> additional funds to a Contingency Reserve to meet <br /> obligations which will allow the City to exclude these <br /> funds from the appropriations limit when the funds are <br /> disbursed in a future accounting period; <br /> <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br /> RESOLVES AS FOLLOWS: <br /> <br /> Section 1: Appropriates the excess funds in fiscal year 1985-86 <br /> in the sum of $3,458,199 to the Contingency Reserve to <br /> meet existing obligations <br /> <br /> Section 2: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br /> THIS RESOLUTION ADOPTED FEBRUARY 17, 1987 BY THE FOLLOWING VOTE: <br /> <br /> AYES: Councilmembers - Brandes, Butler, Mohr, Wilson and Mayor <br /> Mercer <br /> NOES: None T~ECER, M~ <br /> ABSENT: None <br /> ABSTAIN: None <br /> <br /> ATTEST: <br /> KENN <br /> <br />//'~ames R.'Waiker,'l~t'y Clerk <br /> By Doris George, Deputy City Clerk <br /> <br /> <br />