HomeMy WebLinkAboutORD 3694~. . .
.. t ORIGINAL ORDINANCE NO. __ 3_6_94_
ORDINANCE OF THE C()UNCIL OF THE CITY OF PALO ALTO
P..MENOING THE BUDGET FOR THE FISCAL YEAR 1986-87 TO ESTABLISH
ANO PROVIDE FUNDING FOR CAPITAL IMPROVEMENT PROJECT NO. 86-20
nBELL. SAVINGS AND LOAN SITE ACQU 1 SIT ION"
WHEREAS, pursuant to the provisions of Section 12 of Article III of the
Charter of the City of Palo Alto, the Co~ncil on June 23, 1986 did adopt a bud9et
for fiscal year 1986-87; and
WHEREAS, the Council of the City of Palo Alto has been notified by Bell
Savings Jnd Loan of its intent to sell a parcel of land; and
WHEREAS, the Council of the City of Palo Alto desires to purchase this site
for a housing or mixed use project.
NOW, THEREFORE, the Council of the City of Palo Alto does ordain as
follows:
SECTION 1. Capital Improvement Project No. 86-20 is hereby established for
"8el1 Savings and Loan Site Acquisition".
SECTION 2. The sum of Nine Hundred Twenty-Five Thousand Dollars ($925,000)
is appropr1ated to Capita1 Improvement Project No. 86-20 11 Bell Savings and Loan
Site Acquisition" and the Reserve for In-Lieu Housing is correspondingly
decreased.
SECTION 3. The Council finds that this is not a project for purposes of the
California Environmental Quality Act and, therefore, no environmental assessment
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is necessary. ··
SECTION 4. This ordinance shall become effective i1001ediateJy as provided in
Section 12 of Article III of the Charter and Section 2.04.375 of the Palo Alto
Municipal Code.
INTRODUCED AND PASSED: July 7, 1986
AYES: Beohtel, Cobb, Fletcher, Klein, Levy, Patitucci, Renzel, Sutorius,
Woolley
NOES: None
ABSTENTIONS: None
ABSENT: None
APPROVED AS TO ·