CC Resolution 10536
RESOLUTION NO.
10536
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
ADOPTING THE CITY'S OPERATING & CAPITAL BUDGET
FOR FISCAL YEAR 2005-06 (FY 06)
WHEREAS, there has been submitted to the City Council a preliminary budget
for the operation of all departments and facilities of the City of Campbell for FY 06, and
there has been submitted to the City Council a preliminary budget for the capital
expenditures related to City projects, and
WHEREAS, the City Council held meetings to review the proposed operating
and capital budget; and the City Council took action to adopt the proposed budget;
WHEREAS, it is necessary to utilize a portion of the Compensated Absences
Reserve to balance the FY 06 operating budget;
NOW, THEREFORE, BE IT RESOLVED by the City Council that as of July 1,
2005 the amount of $40,915,115 be fixed as the amount necessary to meet all
municipal operating requirements (excluding any further changes resulting from the
meet and confer process, this public hearing, and/or any miscellaneous corrections),
and that the amount of $9,941,000 be fixed as the amount necessary to meet the
capital requirements of the City and that the same is hereby approved, confirmed and
adopted at the combined total of $50,856,115; and,
BE IT FURTHER RESOLVED that the City Council approve the usage of
$500,000 from the Reserve for Compensated Absences to balance the FY 06 operating
budget as necessary, thereby granting an exception to the existing financial policy; and,
BE IT FURTHER RESOLVED that the Finance Director is hereby authorized to
make any changes resulting from the public hearing to adopt the FY 06 operating and
capital budget, modifications resulting from the meet and confer process, or any
miscellaneous corrections due to more refined estimates be incorporate these changes
into the final published FY 06 operating and capital budget document; and,
BE IT FURTHER RESOLVED that pursuant to Section 33445 of California
Redevelopment Law, the City Council finds that the payment of all or part of the value
of the land for and the cost of installation and construction of any buildings, facilities,
structures or other improvements contemplated in the Redevelopment Agency's FY 06
budget are of benefit to the project area, that no other reasonable means of financing
such buildings, facilities, structures, or other improvements are available to the
community, that the payment of funds for the acquisition of land or the cost of buildings,
facilities, structures, or other improvements contemplated in the Agency's FY 06 budget
will assist in the elimination of one or more blighting conditions inside the project area or
provide housing for low or moderate income persons; and that the payment of funds for
the acquisition of land or the cost of buildings is consistent with the Redevelopment
Agency's implementation plan adopted in accordance with California Redevelopment
Law; and,
RESOLUTION NO.
10536
(Continued)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
ADOPTING THE CITY'S OPERATING & CAPITAL BUDGET
FOR FISCAL YEAR 2005-06
BE IT FURTHER RESOLVED that based on the foregoing findings, the City
Council consents to the payment of the Agency for the cost of land and the cost of
buildings, facilities, structures, or other improvements contemplated in the Agency's FY
06 budget.
PASSED AND ADOPTED the 21st day of June, 2005, by the following roll call
vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
Burr, Furtado, Watson, Kennedy
None
Hernandez
APPROVED:
ATTEST: