HomeMy WebLinkAboutResolutions - No. 2002-43RESOLUTION NO. 2002-43
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO APPROPRIATE FUNDS FOR THE STREETLIGHT
COMPLETION PROJECT FROM THE ELECTRIC SYSTEM REVENUE
CERTIFICATES OF PARTICIPATION
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WHEREAS, one of the City's goals is to provide street lighting in unit portions of the
City; and
WHEREAS, this project is known as the Streetlight Completion Project, and is estimated
to install 1,000 — 1,200 lights over a period of 3-5 years at a cost of $3.5 — $4 million; and
WHEREAS, the funding source for this project is the Electric System Revenue
Certificates of Participation; and
WHEREAS, as the project progresses funds are appropriated from this source into the
assigned Business Unit. The City Council in the past has authorized appropriations of
$200,000 on August 16, 2000, and $550,000 on March 21, 2001 for Phase I and II, and for
other qualifying street lighting projects; and
WHEREAS, in order to proceed with Phase III of the project, i.e. design and easement
acquisitions, and fund incurred expenses such as street lighting on Stockton and Elm Streets,
staff recommends appropriating $125,000.00 at this time.
NOW, THEREFORE, BE IT RESOLVED, that the Lodi City Council does hereby
authorize the City Manager to appropriate funds for the Streetlight Completion Project from the
Electric System Revenue Certificates of Participation in the amount of $125,000.00.
Dated: February 20, 2002
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I hereby certify that Resolution No. 2002-43 was passed and adopted by the Lodi City
Council in a regular meeting held February 20, 2002 by the following vote:
AYES:
COUNCIL MEMBERS — Hitchcock, Howard, Land, Nakanishi, and Mayor
Pennino
NOES:
COUNCIL MEMBERS — None
ABSENT:
COUNCIL MEMBERS — None
ABSTAIN:
COUNCIL MEMBERS — None
SUSAN J. BLACKSTON
City Clerk
2002-43