HomeMy WebLinkAboutResolutions - No. 96-95RESOLUTION NO: 96- 95
A RESOLUTION OF THE LODI CITY COUNCIL
AUTHORIZING THE INVESTMENT TRANSFER OF $350,000 FROM THE ELECTRIC UTILITY
FUND TO THE GENERAL GOVERNMENT CAPITAL OUTLAY
WHEREAS, the City Council was provided with background information on the financing plan and strategy
for construction of Hutchins Street Square and other general government projects between 1995 and 2001: and
WHEREAS, the information given at the shirtsleeve presentation listed approximately $10 million worth of
capital improvement projects and debt service to be funded by General Fund Revenue over the next five years;
and
WHEREAS, the investment transfer is needed to supplement the property tax distribution to the Capital Outlay
Fund to give the City flexibility in addressing capital improvement needs; and
WHEREAS, the investment transfer will be brought forward annually for Council approval; and
WHEREAS, Council has approved similar investment transfers from the Electric Utility Rate Stabilization
Fund in the past;
NOW, THEREFORE, BE IT RESOLVED, by the Lodi City Council approval of an investment transfer of
$350,000 from the Electric Utility Fund to the General Government Capital Outlay fund.
Dated: July 17, 1996
I hereby certify that Resolution No. 96 -95 was passed and adopted by the Lodi City Council in a
regular meeting held July 17, 1996 by the following vote:
Ayes: Council Members - Davenport, Mann, Pennino, Sieglock and Warner (Mayor)
Noes: Council Members - None
Absent: Council Members - None
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nifer Penin
City Clerk