HomeMy WebLinkAboutORD 3317• • ORIGINAL
ORDINANCE NO. 3317
ORDINANCE OF 'rHE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 1981-82 TO
ESTABLISH CAPITAL IMPROVEMENT PROJECT NO. 81-92
"ACQUISIT:tON OF' TERMAN SCHOOL SITE" AND TO PROVIDE
FUNDING FOR THE INITIAL PAYMENT OF THE TERMhN SCHOOL
SITE
WHEREAS, pursuant to the provisions of Section 12 of Article III
of the Charter of the City of Pa]o Alto, the Council on June 22, 1981,
did adopt a budget for fiscal year 1981-82; and
WHEREAS, on November 23, 1981, the City Council authorized exec~
tion of a lease/purchase agreement with the Palo Alto Unified School
District for the acquisition of the Terman School site, and
~·HlEREAS, in accordr~!:ce wU:h said agreement, initial payment for
the site is One Mjllion 8ollars ($1,000,000) plus the sum of Four Hun
dreJ Eleven Dollars ($411) per day beginning November 9, 1981, through
t h c d a t c~ o f d e 1 i v e r· y o f s a i d payment on or be fore J an u a r y 6 , 1 9 8 2 ;
NOW, THEREFORE, the Council of the City of Palo Alto does ORDAIN
as follows:
SECTION 1, Capital Improvement Project No. 81-92 is hereby estab
lished for ''Acquisition of 'l'erman School Site."
SECTION 2. The sum of One Mi 1.1 ion Twenty-four Thousand Two Hun
dred F1fty Doll3rs ($1,024,250) is appropriated to Capital Improvement
Project No. 81-92 "Acguisitivn of Terman School Site." Offsetting this
appropr 1 at ion, the Communi t~' Development Block Grant appropriation for
capita 1 lmp roverr:Jen t P roj e<::t No. 7 9-96 "Landbank" is decreased by Six
Hundred Seventy-five Thousand Dollars ( :?675,000) and Three Hundred
2orty-nine Thousand Two Hundred f'ifty D0llar.s ($349,250) is appropr:.i.
ated from the k0serve for Speci~l In-Lieu Housing (Industrial).
SECTION 3. This ordinance shall become effective immediately as
provided 1n Section 12 of ArticlP. III of the Charter and Section 2.04.
375 of the Palo Alto Municipal Code.
INTRODUCED AND PASSED: November 23, 19~~
A YES: Bechtel 1 Eyerly 1 Paz zino, Fletcher, Henderson, Klein, Levy .•
Renzel, Witherspoon
NOBS: None
ABSTENTIONS: None
ABSENT: None
APPROVED AS TO FORM:
~!J__2h_~-=:;:;..<"-Clty Att<.Jrney
APPROVED:
1 ector, Budget and
Resource Management