HomeMy WebLinkAbout1996-12-16 Ordinance 4394ORDINANCE NO.
4394
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 1996-97 TO ACCEPT
A GRANT AND PROVIDE AN ADDITIONAL APPROPRIATION FOR
CAPITAL IMPROVEMENT PROJECT NO. 19411, ALMA STREET BIKE
BRIDGE
WHEREAS, pursuant to the provisions of Section 12 of Article
III of the Charter of the City of Palo Alto, the Council on June
24, 1996 did adopt a budget for fiscal year 1996-9±; and
WHEREAS, Capital Improvement Project No. 1941_, .._r -a street
Bike Bridge, was originally approved in the 1993-94 adopted budget,
and project expenditures were increased in the 1996-97 adopted
budget to $298,000; and
WHEREAS, the Joint Powers Board has decided to provide in -kind
rather than financial support for a portion of the project, and
therefore project revenues and expenditures adopted in 1996.97 for
CIF 19411, Alma Streit Bike Bridge, need to be reduced by $16,000;
and
WHEREAS, based upon bids received for CIP 19411, A?rna Street
Bike Bridge, the cost of the project will be $440,000, necessitating
an increase in authorized expenditures of $158,000; and
WHEREAS, the Bay Area Air Quality Management District has
awarded a grant to the City of Palo Alto for $98,000 to pay for a
portion of the increased cost of CIP 19411, Alma Street Bike Bridge;
and City Council authorization is needed to accept and expend the
grant receipts; and
WHEREAS, City Council authorization is needed to amend the
1996-97 budget as hereinafter set forth.
NOW, THEREFORE, the Council of the City of Palo Alto does
ORDAIN as follows:
SECTION 1. Project expenditures in CIP 19411, Alma Street Bike
Bridge, are increased by a total of $142,000, which is the net of
the following transactions:
a. Grant revenue in the Capital Improvement Fund is decreased
by Sixteen Thousand Dollars ($16,000), and expenditures for Capital
Improvement Project No. 19411, Alma Street Bike Bridge, are
correspondingly decreased from $298,000 to $282,000.
b. Project expenditures in CIP 19411, Alma Street Bike Bridge,
are increased by One Hundred Fifty -Eight Thousand ($158.000), and
expenditures are correspondingly increased from $2£32,000 to
$440,000.
SECTION 2. To fund the $158,000 increase in expenditures, the
following transactions are hereby approved:
a. The sum of $98,000, received from BA.AQMD, is hereby
appropriated to the Street Improvement Fund. The sure. is transferred
to the Capital Improvement Fund, which is correspondingly increased.
b. CIP 19411 is hereby increased by the sum of $98,000.
c. The sum of Fifteen Thousand Dollars ($15,000) is hereby
transferred within the Capital. Improvement Fund from CIP 19414,
Irrigation Improvements, to CIP 19411.
d. The sum of Five Thousand Dollars ($5;000) is hereby
transferred frorn the Street Improvement Fund to CIP 19411.
e. The sum of Forty Thousand Dollars ($40,000) is hereby
transferred from the Budget Stabilization Reserve to CIP 19411.
SECTION 3. These transactions will have the following impact:
a. Expenditures in CIP 19414, Irrigation Improvements, will
be reduced from $285,000 to $270,000.
b. The Street Improvement Fund Reserve will be reduced by
$5,000.
c. The Budget Stabilization Reserve will be reduced from
$16,427,196 to $16,387,196.
SECTION 4. A, specified in Section 2.28.080(a) of the Palo
Alto Municipal Code, a two-thirds vote of the City Council is
required to adopt this ordinance.
SECTION 5. On December 4, 1995, Council approved a Negative
Declaration (95-EIA-16) for this project.
SECTION 6. As provided in Section 2.04.350 of the Palo Alto
Municipal Code, this ordinance shall become effective upon adoption.