HomeMy WebLinkAboutAgenda Report - October 4, 1989 (54)COUNCIL COMM UNICHTION
TO: THE CITY COUNCIL
FROK: THE CITY MANAGERS OFFICE
OJJN ., MEETING DATE
OCTOBER 4, 1989
SUBJECT: TRANSFER OF $1,500,000 FROM RATE STABILIZATION FUND TO
E ECIW UTILITY OUTLAY RESERVE FUND
PREPARED BY:
City Manager
RECOMMENDED ACTION That the City Council authorize the transfer of
$1,500,000 from the Rate Stabilization Fund to the
Ele,tric Utility Outlay Reserve Fund to provide for
disbursements in connection with L he construction of
%helndustrial Subs to t i cn.
BACKGROUND INFORMATION: The Industrial Substation to be located or E. Lodi
Respectfully subr i tted,
Thomas A. Peterson
City Manager
TAP :b r
CSN C 551
Avenue near the intersection
of C1 uff
Avenue will
soon be under construction.
The City
Council has
already approved the purchase
of various
pieces of
equipment for this project most
of which will not be
delivered for several
weeks or months. The Finance
Director
and Electric
Utility Director have
established a number of accounts to
which these'
acquisitions will be
charged. This transfer will provide for
the initial
funding of this project
fism the appropriate accounts.
Respectfully subr i tted,
Thomas A. Peterson
City Manager
TAP :b r
CSN C 551