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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />RESOLUTION NO. 81-359 <br /> <br />APPROPRIATION OF EXCESS FUNDS TO <br /> CONTINGENCY RESERVE <br /> <br />WHEREAS, <br /> <br />on May 8, 1980, the City Council adopted the appro- <br />priation limit required by Article XIII B of the State <br />of California Constitution (Proposition 4) for fiscal <br />year 1981 in the sum of $7,086,197; and <br /> <br />WHEREAS, the city received total restricted tax revenues in <br /> fiscal year 1981 of $5,467,337; and <br /> <br />WHEREAS, the city is $1,618,860 below the adopted limit; and <br /> <br />the governing body is allowed to appropriate the <br />additional funds that are within the agency's limit to <br />a Contingency Reserve to meet existing contractual <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 PLEASAI~ON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: Appropriates the excess funds in fiscal year 1981 <br /> in the sum of $630,755 to Contingency Reserves to meet <br /> existing contractual obligations. <br /> <br />Section 2: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />THIS RESOLUTION ADOPTED OCTOBER 27, 1981 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers Butler, Kephart, Mohr, Wood and Mayor Mercer <br />NOES: None <br />ABSENT: None ~~_~ <br />ABSTAIN: None <br /> <br /> ~4~- KENNETH R. MERCER, MAYOR <br />James R. ~alker, C Clerk <br /> Doris George, Deputy City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />ine, City Attorneyrv <br /> <br /> <br />